PFE to drill US antimony-silver project in July
Our Investment Pantera Minerals (ASX: PFE | OTC: PTMLF) just completed a sampling program at its 100%-owned Silver-Antimony Project in Arkansas, USA.
This is the final sampling program before PFE’s first drill program on the asset (planned for July/August).
And it will be the first time the project has been drilled for almost 100 years…
PFE’s project hosts 18+ historic antimony and silver mines that produced from the late 1800s into the 1900s, all from shallow surface workings.
Despite that history the project has no modern exploration history - no geophysics or drilling…
Today PFE confirmed that a phase 2 sampling program over the project had been completed taking 75 soil samples and 30 additional rock chip samples.
Mostly across four key target areas:
- Andrew Gold anomaly (Phase 1 returned 1.59 g/t gold here)
- Antimony Bluff (Phase 1 returned 0.85% antimony)
- May Prospect (where the first ever rock assays are now being run)
- Stewart mine area
(source)
Importantly, PFE has also located and sampled several additional undocumented historic mines during this round of fieldwork.
So the picture of just how many historic workings are sitting across this district continues to get bigger.
Assays are expected in ~4 weeks and will be used to refine the maiden drill program planned for July/August.
Here is a look at some of the historic workings included in today’s announcement:
(source)
This one (May prospect) is a target where there is a series of historic shallow pits ~300m east-west.
Phase 1 soil sampling from this target actually threw up antimony mineralisation and now there is another 14 rock chips samples taken (as part of the phase 2 program) - so we will be looking forward to seeing what comes from here.
So on top of the planned July/August drilling, there’s a chance the May Prospect data adds a new high-priority drill target to the program when assays come back.
PFE also had an update out on its lithium Investment
The other thing worth PFE confirmed today was the scheduled payments that are due from the sale of its lithium assets last year.
(source)
PFE sold its Arkansas lithium assets to EnergyX back in July last year, completing the sale in October.
At the price EnergyX last raised funding - PFE’s stake was worth ~A$42.6M+. (source)
PFE is due 2 further cash payments from the sale:
- A$2M in July 2026, and
- A$2M in April 2027.
So PFE will have more cash than the quarterly suggests to drill its silver-antimony project in the coming months. (PFE had $941K cash at 31 March 2026). (source)
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.
Milestones:
🔄Mapping and sampling (soil and rock chips assays received recently) (source), further samples taken today
🔲 Geophysics
🔲 Drill targets confirmed
Drilling on PFE’s US critical minerals project
After PFE has identified priority drill targets, we want to see the company drill test the project.
Milestones:
🔲 Drill permitting
🔲 Drilling
🔲 Drilling results
