PFE samples 19.2% antimony and 63.8g/t silver from US project

Our US critical minerals Investment Pantera Minerals (ASX: PFE | OTCQB: PTMLF) just announced a batch of sampling results from its critical minerals and silver project in southwest Arkansas, USA.

PFE's project hosts 18+ historic antimony and silver mines that produced from shallow surface workings from the late 1800s into the 1900s.

Despite that history, the project has had no modern exploration - no geophysics and no drilling.

Since picking up the assets in October last year, PFE’s completed a few rounds of sampling now with these results being “follow up” samples from “Phase 2 exploration”.

Today PFE announced a batch of results from rock chips taken across the project - returning grades up to 19.2% antimony and 63.8g/t silver.

(source)

The rock chip sampling work is all part of the work leading up to PFE’s first drill program on the project - the first drill program on the project in almost 100 years.

PFE’s plan is to be drilling in July/August.

Next, PFE will use these final sampling results to refine the final drill drill target ranking ahead of drilling expected in coming months.

(source)

PFE's US lithium Investment funding the exploration

While PFE’s active focus is the antimony/silver project in Arkansas.

PFE still holds shares in unlisted US lithium developer EnergyX, which bought PFE's Smackover lithium project last year.

At EnergyX's most recent raise pricing (and current exchange rate), that stake is worth ~A$44.3M - well above PFE's current $7.9M market cap (at 1.6c).

We covered the latest on that shareholding here when EnergyX signed a non-binding MoU to add a project to its portfolio :PFE - update on $42.6M US lithium Investment - EnergyX.

PFE is also due an A$2M deferred cash payment in July 2026 (with another A$2M to follow in April 2027).

So this cash is expected to land just as PFE moves toward drilling, helping fund the next phase of work and its maiden drill program.

With an additional $2m cash due in April, we should see activities funded here for a while and give PFE a bit of runway to explore the project.

What do we want to see PFE do next?

Target Generation on US critical minerals project

We want to see PFE sample, map and run geophysics on its US asset to identify drill targets.

Here are the milestones we are tracking:

• 🔄Mapping and sampling
• 🔲 Geophysics
• 🔄 Drill targets confirmed (confirmed being refined today)

After PFE has identified priority drill targets, we want to see the company drill test the project.