Perth, Australia - 8 April 2024 – Pantera Minerals Limited (ASX:PFE), an emerging leader in the exploration and development of lithium resources, is well-placed to take advantage of the burgeoning demand for lithium in the United States. According to a recent article by Fastmarkets, US lithium demand is expected to surge, fueled by the rising popularity of electric vehicles (EVs) and renewable energy storage solutions.
Fastmarkets, has highlighted the critical role of lithium in powering the green energy revolution. As the US shifts towards a clean energy future, lithium-ion batteries are becoming increasingly indispensable, serving as the backbone for EVs, grid-scale energy storage systems, and other applications. In an article published on the 3rd April, Fastmarkets forecasts a significant growth in demand for lithium in the US of 487% to almost 412,000 tonnes of lithium carbonate equivalent by 2030.
Pantera recognises this significant market opportunity and is committed to leveraging its expertise and resources to meet the growing demand for lithium. With a strategic focus on exploration and development, aiming to contribute to the sustainable transition to renewable energy sources.
In the heart of America's new lithium super-highway, a significant expansion is underway. Welcome to the Smackover Lithium Brine Project, where Pantera is leading the charge in lithium exploration. With a focus on the Pantera Lithium Brine Project in Southwest Arkansas, the company is rapidly expanding its total landholding and exploration efforts to tap into the region's promising lithium resources.
Since its initial investment, Pantera has achieved remarkable growth, increasing its total landholding by an impressive 219% to encompass 17,000 acres, with negotiations underway for an additional 9,400 acres. This expansion underscores the company's commitment to securing a leading position in America's most sought-after lithium address.
The Pantera Lithium Brine Project boasts a material exploration target of 436,000 to 2,966,000 tonnes of contained Lithium Carbonate Equivalent (LCE), demonstrating the project's potential for world-class scale. A drilling program scheduled for Q2 2024 aims to validate this exploration target and pave the way for the generation of a maiden JORC resource.
Bolstering its strategic position, Pantera recently completed the 100% acquisition of the Daytona Lithium Arkansas Smackover Project in February 2024. This acquisition, coupled with a board comprising seasoned industry experts, including Barnaby Egerton-Warburton and Tim Goldsmith, positions Pantera for significant growth and success in the lithium market.
The Pantera Lithium Brine Project benefits from its proximity to major players in the region, such as Exxon Mobil, Standard Lithium, and Albemarle Corporation. Moreover, its location close to end users in the North American Lithium Industry, including prominent car manufacturers, underscores its strategic advantage in supplying the burgeoning electric vehicle market.
"We are excited about the rapid progress we've made at our Smackover Li Brine project," said Barnaby Egerton-Warburton, CEO of Pantera Minerals Limited. "The next 6-8 months will deliver significant positive news flow, marking a pivotal period for our company as we advance towards our goal of establishing a robust lithium resource."
Key Facts:
Pantera Investor Presentation (March 2024) https://wcsecure.weblink.com.au/pdf/PFE/02788924.pdf
About us:
Pantera’s Superbird Lithium Project is situated in the Smackover Formation in South-West Arkansas (Fig. 1), a renowned high-grade brine formation. This area is home to various lithium brine explorers and producers, including industry leaders such as Exxon Mobil (NYSE: XOM), Standard Lithium (NYSE: SLI), Tetra Technologies’ (NYSE: TTI) and Albemarle Corporation (NYSE: ALB). Arkansas offers an ideal jurisdiction for the development of a lithium brine project, situated strategically in the heart of the United States. With exceptional logistics and transportation links, a skilled labor force, and a proactive and supportive state government, it provides all the necessary ingredients for successful lithium-brine project. Pantera will utilise conventional oil and gas drilling methods to access lithium-rich saltwater from reservoirs about 10,000 feet underground, which will then be pumped into a direct lithium extraction (“DLE”) plant to separate lithium from the saltwater.
The lithium will then be converted onsite to battery-grade material. The remaining saltwater will be re-injected into the underground reservoirs. The DLE process produces fewer carbon emissions than hard rock mining and requires significantly less land.
Contact details:
For further information, please contact:
Jane Morgan
jm@janemorganmanagement.com.au
