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Pantera Minerals (ASX: PFE) has started its first modern drilling campaign at the 100%-owned Gillham Project in southwest Arkansas, targeting high-grade antimony and silver mineralisation beneath historic mine workings.
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The program began on August 18, with about 1,500 metres of diamond drilling planned across 10 holes at the Davis, Stewart and May prospects. The campaign is designed to test whether mineralisation identified through Pantera’s 2026 surface exploration continues at depth, while providing geological and structural information to guide follow-up drilling.
Surface sampling has produced high-grade results at Stewart and May, including rock chips grading up to 19.2% antimony and 63.8g/t silver. Another sample returned 7.55% antimony, 63.8g/t silver, 7.44% lead and 8.6% zinc.
Pantera cautioned that the rock chip results are selective samples and should not be considered representative of average mineralisation grades or widths.
The Davis prospect provides a separate polymetallic target and contains the largest historical mine workings within the project area. Previous sampling has identified copper, zinc, lead and silver mineralisation, including a sample grading 1.96% copper and 1.465% zinc.
The current drilling is expected to provide the first known modern subsurface test of the Davis system and the broader mineralised structures beneath the historic workings.
Pantera CEO and Executive Chairman Barnaby Egerton-Warburton said the company had now moved from surface exploration to directly testing the system at depth after identifying high-grade rock chips, soil anomalies and historical workings.
The Gillham Project covers about 5,000 acres across the Gillham East and Gillham West areas, with more than 18 historical antimony and silver workings and mines. Historical mining largely focused on shallow and near-surface mineralisation.
Core from the new drilling will be progressively logged and submitted for assay, with results to be released as they are received and interpreted.
The results will be used to update Pantera’s geological model and determine potential follow-up and step-out drilling targets across Gillham.
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