10 holes for approximately 1,500m will test the Davis, Stewart and May prospects.
First known modern subsurface test of mineralisation beneath Gillham’s historic mine workings.
High grade surface results include up to 19.2% antimony and 63.8g/t silver, supported by coherent soil anomalies.
Assay results will be released progressively, helping Pantera assess and rank potential follow up and step out drilling targets.
19 August 2026 – Perth, WA | Pantera Minerals Limited (ASX: PFE) has begun the first known modern drilling at its 100% owned Gillham Project in southwest Arkansas, moving the historic antimony and silver district from surface exploration into direct testing of mineralisation at depth.
Drilling started on 18 August after Dycus 3D Drilling Company mobilised to site, with Pantera planning about 1,500 metres of diamond drilling across 10 holes.
The campaign will focus on the Davis, Stewart and May prospects, where historical mine workings, high grade rock chip samples and soil geochemistry have been used to define the company’s initial drill targets.
For Pantera, the program represents the first opportunity to determine whether the antimony, silver and polymetallic mineralisation identified at surface continues beneath the historic workings, while also providing geological and structural information needed to assess any potential follow up drilling.
That makes the drilling an important test of the geological case built through Pantera’s 2026 surface exploration program.
At Stewart and May, rock chip sampling returned antimony grades of up to 19.2% alongside 12.25 grams per tonne silver, while another sample returned 7.55% antimony, 63.8g/t silver, 7.44% lead and 8.6% zinc.
Soil sampling has also defined two coherent antimony anomalies extending for approximately 400 metres and 500 metres along the Stewart and May trend, within a broader antimony trend stretching for about two kilometres.
The company cautions that rock chip samples are selective point samples and are not considered representative of the average grade or width of the mineralised structures.
Pantera Executive Chairman and CEO Barnaby Egerton-Warburton said:
“With the rig now turning, Gillham has moved from surface exploration into the first direct modern test of the mineralised system at depth. Our 2026 sampling programs identified a compelling combination of high grade rock chip results, coherent soil anomalies and historical mine workings, including rock chips grading up to 19.2% antimony and 63.8g/t silver, and soils peaking at 2,660ppm Sb. ”
The Davis Mine provides a separate polymetallic target within the program.
It is the largest historical operation within the Gillham Project area and contains extensive underground development. Previous sampling has identified copper, zinc, lead and silver mineralisation, including a rock chip sample grading 1.96% copper and 1.465% zinc.
The current drilling will provide the first known modern subsurface test of the Davis mineralised system and is intended to improve Pantera’s understanding of the geological and structural controls beneath the historic workings.
The broader Gillham Project covers approximately 5,000 acres across the Gillham East and Gillham West areas and contains more than 18 historical antimony and silver workings and mines. Historical activity dates to the late 1800s and early 1900s and was generally limited to shallow and near surface mining.
The project also sits within Pantera’s broader US critical minerals strategy. Antimony is designated as a critical mineral in the United States and is used across industrial, defence and energy related supply chains.
While the maiden campaign is concentrated on Davis, Stewart and May, Pantera has identified additional exploration targets across Gillham.
Core from the drilling will be progressively logged, processed and sent for assay, with results to be reported as they are received, validated and interpreted.
Those results will then be incorporated into Pantera’s geological and structural model for Gillham and used to assess and rank potential follow up and step out drill targets across the wider project.
About us:
ABOUT PANTERA MINERALS
Pantera Minerals Limited (ASX: PFE OTCQB: PTMLF) is a forward-looking critical minerals exploration and development company focused on advancing projects in critical minerals across the United States with a particular focus on Arkansas. The Company is committed to leveraging modern exploration methods – including geochemistry, geophysics, and advanced modelling – to unlock value in regions historically mined for critical minerals, which are recognised by the U.S. government as essential to supply chain security.
Contact details:
For further information, please contact:
Barnaby Egerton-Warburton
Executive Chairman and CEO
E: [email protected]
P: +61 (0) 437 291 155
Jane Morgan
Investor Relations
E: [email protected]
P: +61 (0) 405 555 618
