Pantera Minerals (ASX:PFE) has engaged oilfield services company SLB (NYSE:SLB) to define the subsurface geology and reservoir characteristics of the Pantera Lithium Brine Project in Arkansas, US.
SLB will develop a 3D static geological model, which is a critical step in de-risking and optimising the exploration planning and workflow, as well as project development.
The goal, Pantera says, is to advance previously identified leads and re-entry wells to drill-ready prospects.
Pantera says the model will be defined over a 40,000-acre area of interest covering the extent of the 18,570 acres of mineral claims currently held by Daytona Lithium.
Existing data will be gathered and reviewed to establish a baseline understanding of the subsurface geology and existing brine resource within the Smackover Formation at the area of interest.
From there, 2D seismic data will be imported into a 3D modelling platform. A 3D grid will be generated representing the subsurface top and base of the Smackover Formation.
Pantera Chairman and CEO Barnaby Egerton-Warburton says SLB’s proven track record will provide Pantera with an enhanced understanding of subsurface characteristics to better inform decision making.
He adds that the project’s exploration target has a grade range between 225 to 450 milligrams per litre (mg/L), with a median grade value of 338mg/L.
“We hope to further refine and enhance that as we move through to the initial exploration phase,” Egerton-Warburton says.
“With the Arkansas Smackover boasting some of the highest grade lithium brines globally, supporting oilfield services and infrastructure are now being established for America’s emerging lithium-brine industry, which includes Albemarle, Standard Lithium, Exxon Mobil and now Norway’s Equinor.”
In August 2023, Pantera acquired a 35% interest in the Pantera Lithium Brine Project which lies in the Smackover Formation in Arkansas. That ownership was increased to 100% in February 2024.
Write to Aaliyah Rogan at Mining.com.au
Images: Pantera Minerals
