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Pantera Minerals Limited (ASX:PFE) has announced the successful completion of a 3D Static Geological Model for its Smackover Lithium Brine Project. The model, delivered by SLB, is a crucial development for the company, providing detailed insights into the subsurface geology and reservoir characteristics of the Upper Smackover Formation. This marks an important milestone as Pantera moves toward de-risking and optimizing its exploration plans and project development.
The 3D model covers Pantera’s Area of Interest (AOI), which includes all leased acres within the Smackover Formation. By integrating data from multiple sources, the model offers a comprehensive understanding of the project’s geological potential, laying the foundation for resource definition and future drilling activities. The completion of this model is a critical step in advancing the company’s lithium brine exploration, positioning Pantera to capitalize on its project’s promising resource potential.
The 3D Static Geological Model incorporates data from 38 wells that penetrate the Upper Smackover Formation, along with 13.34-line miles of 2D seismic data and 481 gravity stations. The analysis of this extensive dataset has confirmed that Pantera’s Smackover Project holds the potential to host a large, world-class lithium brine resource, comparable to neighboring Arkansas-based lithium brine projects run by super majors like Exxon Mobil and Equinor/Standard Lithium. These companies are working on advanced lithium brine projects in the region, making Pantera’s exploration efforts even more promising.
The model provides detailed estimates of the thickness and porosity of the Upper Smackover Formation within Pantera’s AOI. It also identifies fault locations and the depth to the basement, which are key factors in understanding the resource potential and optimizing future exploration efforts. The company plans to update this 3D model with additional data once it obtains lithium brine geochemistry and permeability information from a well re-entry scheduled for late October.
Moving forward, Pantera Minerals is focused on several key activities to advance its Smackover Lithium Brine Project. The re-entry of its first well will be a significant milestone, as it will allow the company to test the lithium brine grade through independent laboratory analysis. This data will then be used to update the resource model, providing a more precise estimation of the project’s lithium potential.
In addition to the well re-entry and testing, Pantera plans to collaborate with multiple Direct Lithium Extraction (DLE) technology providers to test samples from the re-entry well. The company is also engaging in discussions with these providers to potentially establish a pilot plant for on-site testing, with the goal of initiating pilot operations by early 2025.
Pantera is also actively pursuing further growth of the Smackover Project through the acquisition of additional acreage. Recent leasing activity to the north and west of Pantera’s existing position has intensified, with multiple parties competing for new leases in the region. This heightened interest underscores the strategic importance of the Smackover Formation as a potential lithium brine resource.
