Rig Agreement for Smackover Well re-Entry

Pantera Minerals Limited (ASX: PFE) has signed a rig agreement with Production Services Inc. for the re-entry of its first well at the Smackover Lithium Brine Project in Arkansas, USA. Initial work is set to commence in mid-October, with re-entry operations beginning in late October. The testing procedure is designed by SLB and aims to collect brine samples from the upper Smackover formation to determine lithium grades. This data will enhance the understanding of the resource and inform the exploration target, facilitating optimal planning for a second well. The well location is strategically chosen to support both lithium production and disposal, paving the way for a pilot plant operation anticipated in 2025.

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