PFE: Drilling set to commence at Hellcat

Investment Memo: PFE Memo

General: Exploration activity

Our early stage exploration investment Pantera Minerals (ASX:PFE) is preparing the drill rig for its most recent acquisition.

This morning, PFE announced the completion of a heritage survey at its Hellcat polymetallic project in WA’s Edmund Basin, thus paving the way for its maiden drilling programme. An 1,800 metre diamond drilling program is set to commence early next month.

Hellcat is located ~100km from one of the region’s most significant discoveries of the past two decades, namely the ‘Abra’ polymetallic deposit - owned by Galena Mining (ASX:G1A). The project is currently in construction, with first lead and silver production slated for 2023.

We like that Hellcat has the same stratigraphic and structural setting as Abra, and also shares a similar geophysical signature.

PFE acquired 80% interest in the Hellcat Project in December 2021.

This fits in with our #2 Objective we want to see PFE deliver this year.

Next will be the actual drilling activity next month, followed by assay results, which we will await with interest.