Pantera gears up for maiden exploration in the world-class Smackover lithium district

Smackover is a fast-emerging lithium brine precinct in Arkansas
Exploration target to follow
WA exploration drilling to kick off in 2024 at Weelarrana (manganese, iron)

Intensive exploration work will commence this year and into 2024 across Pantera Minerals’ lithium, iron ore, manganese and base metals assets in North America and WA.

Superbird is Pantera Minerals’ (ASX:PFE) flagship lithium brine project in North America’s emerging Smackover Formation in Arkansas, where resources majors are descending upon to develop projects for our clean energy transition.

Superbird directly abuts ExxonMobil’s (NYSE:XON) 120,000 lithium brine project and is along trend from other big players Standard Lithium (NYSE:SLI), Tetra Technologies (NYSE:TTI) and Albemarle Corporation (NYSE:ALB).

Exxon is targeting 75,000-100,000tpa of lithium carbonate equivalent (LCE), while Standard Lithium expects first production in 2025 for an average of 5,400tpa LCE over a minimum 25-year operating life.

Tetra currently produces bromine out of its Magnolia project and is investing US$540m to build a DLE test facility in the region.

Arkansas Governor Sarah Huckabee underlined her ambitions to make the State a leading hub for the development of North America’s battery supply chain, saying its government is “moving at breakneck speed to become the lithium capital of America.”

Pantera Minerals (ASX:PFE) — Pantera is in good company at the Smackover Formation in Arkansas. Pic supplied: (PFE)

Superbird expansion and exploration target incoming

Pantera first acquired a 35% interest in Daytona Lithium in August. Since then, the two companies have increased the land position of Superbird by a massive 77%, from Daytona’s initial 5,325 acres up to 9,440 acres.

It’s also planning to add another 7,000 acres which are currently under negotiation.

Pantera says it would seek to increase ownership in the Superbird Project at the Smackover Formation, subject to successful negotiations and any required & regulatory shareholder approval.

Meanwhile, the company says discussions with Direct Lithium Extraction technology providers will begin “imminently”.

Weelarrana

The Weelarrana project covers 957km2 of ground prospective for manganese, iron and precious metals 80km south of Newman, WA.

Here, a 3100m RC drill program has been planned and approved over the high grade Channel Iron mineralisation targets while a 750m RC drill program is planned over manganese targets.

Before drilling commences, heritage surveys are expected to be conducted in early 2024 and tenements E52/3892 and E52/4173 are expected to be granted later this year with fieldwork to commence in early 2024.

Yampi & Hellcat

Geophysical modelling has confirmed a large and significant magnetic porphyry-type anomaly at Yampi with pathfinder elements of copper-gold mineralisation.

At the Hellcat base metals project, Pantera has engaged an independent review of the general prospectivity and subject to review expects to undertake a combination of airborne VTEM and ground gravity surveys.

Sampling has been completed and shows grades of 1.9% Pb, 0.3% Zn and 95g/t Ag.

Drill programs will be planned once the results of the geophysical surveys have been received and processed.

This article was developed in collaboration with Pantera Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.