Pantera Minerals has increased its Smackover landholding by 20% up to 22,270 acres
Acquisition target of 25,000 acres on the horizon
More acreage is under negotiation and exploration of the project continues
Special Report: Pantera Minerals has increased its landholding by 20% within the prolific Smackover Formation in Arkansas, where majors such as ExxonMobil and Albemarle are pouring in billions of dollars into developing a world-class lithium-brine mining jurisdiction.
Surrounding Pantera Minerals’ (ASX:PFE) acreage to the east, north and northwest and contiguous with the project, Exxon Mobil (US$419 billion market cap) continues to conduct drilling operations on their leased acres.
Exxon’s strategic plan includes the construction of a sizeable lithium brine processing facility, aimed at advancing their project into full-scale production.
Other majors such as Standard Lithium and Tetra Technologies also have stakes in the region, looking to develop lithium operations to feed the insatiable demand of the emerging North American lithium supply chain.
Recently, Norway’s Equinor, a world-class energy company, has partnered up with US major Standard Lithium, investing US$160m for a 45% interest in two lithium businesses across the Smackover territory.
Pantera’s landholding and surrounding resources majors with projects in the prolific Smackover Formation. Pic supplied: (PFE)
Project development
Within PFE’s Smackover landholding lies its Lithium Brine play, where the explorer has already defined a 436,000-2.96Mt of contained LCE exploration target and multiple re-entry wells within its footprint.
It recently engaged world-leading subsurface technology company SLB to identify the potential of its Smackover lithium brine project ahead of drilling the first well.
SLB is the world’s leading subsurface expertise and technology company in the oilfield sector – easily translatable to exploring for lithium brine projects using DLE tech.
Acreage increase
PFE has added 3700 new leased acres within the company’s flagship Smackover lithium brine project area, taking the total to 22,270 acres.
The project is now a whisker away from its 25,000-acre target.
“This is an outstanding result as we continue to lease in the USA’s new ‘lithium heartland’, the Smackover play in Arkansas,” PFE exec chair Barnaby Egerton-Warburton says.
“Our exclusive abstract agreement continues to allow us to lease with little to no competition as our focus moves towards drilling, exploration and resource definition.”
Negotiations are ongoing to further increase Pantera’s footprint in the region.
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.
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