Highlights

  • Maiden diamond drilling at Gillham, which Pantera owns outright, began on 18 August and finished on 16 October 2026.
  • The company also lists a close-out report and ranking of follow-up targets as next steps.
  • Pantera notes the historical results are unverified and should not be relied on until confirmed.
  • The company's next steps are heritage and access engagement, data validation, soil sampling and work approvals before any drilling.

Pantera Minerals (ASX:PFE) has reported on the quarter to 30 September 2026. The main items are the completion of its first drilling programme at the Gillham Antimony-Silver Project in Arkansas, the acquisition of the Corona Gold Project in Western Australia, and an update on its unlisted shareholding in lithium developer EnergyX. No drilling assay results have yet been received.

Gillham Drilling In Arkansas

Maiden diamond drilling at Gillham, which Pantera owns outright, began on 18 August and finished on 16 October 2026. The programme comprised nine HQ-diameter holes totalling 906 metres. The company describes it as the first known modern subsurface test of the historic district, with holes aimed at structures beneath and beside the old Davis, Stewart and May mines to test whether surface mineralisation continues at depth.

Earlier surface rock chips returned up to 19.2 per cent antimony and 63.8 grams per tonne silver, but the company says these were selective samples and are not representative of average grade or width. Soil sampling defined two antimony anomalies of about 400 and 500 metres, linked by a trend of more than one part per million over about two kilometres.

Fifty-four samples have been sent for multi-element assay. Pantera expects results in late November 2026 and will consider further sampling afterwards. The company also lists a close-out report and ranking of follow-up targets as next steps.

Corona Gold Project

Acquisition of 100 per cent of Corona, about 470 square kilometres in the Albany Fraser Orogen roughly 200 kilometres east of Kalgoorlie, completed on 27 October 2026, after quarter-end. Consideration was A$200,000, made up of A$40,000 in cash and A$160,000 in shares, issued as 5,284,015 shares to each vendor at A$0.01514 with escrow periods. Each vendor holds a 1.0 per cent gross revenue royalty.

Targets include an aircore gold-in-bedrock anomaly of about eight kilometres, with a historical intercept of 6 metres at 1.50 grams per tonne gold from 66 metres, and auger anomalies of up to 128 parts per billion gold that have not been drill-tested. Pantera notes the historical results are unverified and should not be relied on until confirmed. The tenure overlaps the Cundeelee Aboriginal Reserve and the Queen Victoria Spring Nature Reserve, so access requirements remain to be confirmed. The company's next steps are heritage and access engagement, data validation, soil sampling and work approvals before any drilling.

Energyx Holding

Pantera holds about 2.34 million shares in EnergyX, with an unaudited indicative carrying value of about A$42 million based on the latest priced capital raising; the holding has no quoted market price. Pantera reports that EnergyX signed a binding ten-year take-or-pay offtake with Trafigura on 15 October 2026 for 100,000 tonnes of battery-grade lithium. EnergyX's revenue estimate of about US$2 billion rests on an assumed price and is not a contract value. Pantera is not a party to the offtake, has no direct entitlement to its proceeds and has not revised its valuation. EnergyX's commercial production targets of 2028 and 2029 are development targets only.

Financial Position

Cash at 30 September was A$1.615 million, up from A$517,000 on A$2.0 million received from the Smackover Lithium sale. Operating outflow was A$560,000, and exploration spending was A$364,000. A further A$2.0 million is due from EnergyX on 1 April 2027.

The Appendix 5B indicates funding of about 1.84 quarters at current outgoings. Pantera says it has capacity to address further funding needs but does not specify how, so additional capital may be required.

Next Milestones

The company expects to receive and report Gillham assays in late November 2026, and to complete its close-out report and assess follow-up drilling. At Corona it will advance heritage and access discussions ahead of drilling.