Pantera’s net leased acreage position at Superbird now totals +17,000 acres
The project is rapidly approaching the 20,000 leased acres, paving the way for the unitisation process
PFE believes it has an opportunity to participate in a new foundational industry in Arkansas
Special Report: Pantera Minerals believes it now has a scalable project it can execute on with an additional 3,553 acres (14.37km2) under its wing within the Smackover brine play.
Pantera Minerals (ASX:PFE) is amongst the ASX companies seeking to progress lithium exploration in Arkansas’s prolific Smackover region.
Smackover has a long history of oil production, which means it hosts many historical producing wells that have been plugged and abandoned after the reservoir or part of the reservoir they serviced became depleted.
For PFE, the only listed junior in the area, these wells represent a massive opportunity to carry out exploration at a much lower cost, compared to other lithium brine areas, as re-entering an existing well can be done quickly and cheaply.
The explorer has been carefully building up its acreage with a target of 20,000, which according to executive chairman Barnaby Egerton-Warburton is the total needed to quantify as a real, commercial project.
Landholding totals +17,000 acres
PFE has now increased its footprint at Superbird to +17,000 acres with a key mineral owner forming the bulk of the addition.
According to Egerton-Warburton, the signing of this additional lease means the company now has an opportunity to participate in a new foundational industry in the state.
“That the Superbird project boasts an impressive total of more than 17,000 net leased acres is a significant achievement made possible through the strategic utilisation of the exclusive 50,000-acre abstract agreement,” he says.
“With significant additional acres currently under negotiation and strategic high value mineral leases being secured weekly, the project is rapidly advancing towards its initial goal of securing 20,000 acres, a crucial milestone that will enable the commencement of the unitisation process”.
In the right neighbourhood
The Superbird project is directly adjacent and on trend from Exxon Mobil’s DLE-style 120,000-acre property, where it is aiming to produce enough lithium for more than 1 million EVs a year from 2030.
Their strategic plan includes the construction of a sizable lithium brine processing facility, aimed at advancing their project into full-scale production.
Also in the area is Standard Lithium (NYSE:SLI), Tetra Technologies’ (NYSE:TTI) and Albemarle Corporation (NYSE:ALB).
Standard Lithium recently finalised a PFS and has successfully operated a pilot plant for over 12 months to confirm the viability of its project where production is slated for 2027.
The Smackover region has government support too, with Arkansas Governor Sarah Huckabee recently throwing her support behind the development of a critical minerals hub, pledging to move at “breakneck speed” for the state to become the lithium capital of America.
What’s next?
Negotiation is currently under way for significant project growth through the acquisition of additional project acreage.
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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