Pantera begins drilling of maiden test well at Smackover

Pantera Minerals Ltd (ASX:PFE) has kicked off drilling at its first test well at its Smackover Lithium Brine Project in Arkansas, seeking to sample and test both lithium and bromine grades from the Smackover formation.

The testing – which is expected to be completed within 10 days – will be conducted through the re-entry of a previously drilled and completed well, focusing on the upper and middle Smackover formation brine.

Samples will be immediately dispatched for lab and DLE analysis, with analytical results expected before the years’ end.

Pantera executive chairman Barnaby Egerton Warburton said the testing would provide important indicators about the quality of lithium at the project.

“Having built a relevant acreage position in the Smackover play we are now extremely pleased to be testing lithium and bromine grades in the heart of our acreage position,” he said.

“This first test not only will provide us with lithium grade but the site we are testing from provides both a supply and disposal well for a future planned pilot plant test.”

Pantera is the as the largest listed acreage holder outside of industry majors like Exxon, Albemarle, Standard Lithium and Equinor.

Pantera shares rose on the news, and at 12:34 AEDT, they were trading at 2.2 cents – a rise of 4.76% since the market opened.

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