Key Highlights

  • Pantera completed the acquisition of a 100% interest in the 470km2 Corona Gold Project on 27 October 2026 for $200,000 total consideration.
  • Historical aircore drilling defined an 8km gold-in-bedrock anomaly, with intercepts including 6m at 1.50g/t Au from 66m, and only one RC hole has been drilled in the prospect area.
  • Untested auger anomalies at the western end of the project peak at 128ppb Au, and about 30% of the project has never been geochemically sampled.
  • Pantera holds about $1.7 million in cash at last quarter end, with a further $2 million due from EnergyX in April 2027.

Pantera Minerals Limited (ASX:PFE) has completed the acquisition of a 100% interest in the Corona Gold Project in the Albany Fraser Orogen of Western Australia, with all conditions satisfied on 27 October 2026. The project covers about 470km2 across exploration licences E28/3555 and E28/3556, roughly 200km east of Kalgoorlie, and Ministerial consent for the transfer of E28/3555 was received within a month of the deal being signed on 29 September. Total consideration is $200,000, with 80% paid in Pantera shares.

How the Corona Deal Was Structured

Cash of $40,000, or $20,000 per vendor, was paid on execution, and 10,568,030 shares were issued on completion at a deemed price of $0.01514, the 10-day VWAP before the agreements. That equals 5,284,015 shares per vendor and satisfies $160,000 of consideration. The E28/3555 shares are escrowed for six months, and 2,642,007 of the E28/3556 shares are escrowed for three months. A further 396,301 shares at the same price were issued to introducer MinExchange Pty Ltd towards a $12,000 fee, bringing total issues to 10,964,331 shares under ASX Listing Rule 7.1 and leaving 504,138,656 shares on issue.

Each vendor also received a 1.0% gross revenue royalty over its tenement, or 2.0% in aggregate, and Pantera may acquire 0.5% of each royalty for $1,000,000. Both tenements are in good standing with no encumbrances, dealings or third-party royalties. The company also clarified that its 29 September announcement had overstated the share numbers, escrow terms and due diligence period, noting the executed agreements provide for 5,284,015 shares per vendor, with a 14-day due diligence period, and that consideration was unaffected.

The 8km Aircore Anomaly and Auger Targets

The project sits in the same structural corridor as the Tropicana gold mine, which hosts 7.89Moz at 2.08g/t Au, and BPM Minerals' Beachcomber discovery. Historical aircore drilling aimed at paleochannel gold intersected bedrock gold at the base of numerous holes along an 8km interpreted structure at the Corona prospect. Results include 6m at 1.50g/t Au from 66m, including 2m at 2.55g/t Au, 11m at 0.29g/t Au from 93m, 2m at 0.83g/t Au from 104m to end of hole and 4m at 0.42g/t Au from 62m. Only one RC hole has been drilled in the prospect area, about 250m from the peak anomaly, and no systematic RC or diamond drilling has tested bedrock gold across the project. More than 20 Corona aircore holes exceed the peak aircore result that led to the Hercules deposit, which holds 71koz at 4.8g/t Au.

On E28/3555, first-pass auger sampling by FMG on 100m by 800m lines defined coherent anomalies above 50ppb Au, peaking at 128ppb Au, including consecutive samples of 128, 87 and 79ppb Au and more than 450m of strike above 50ppb. None were infilled or drilled. Beachcomber was found beneath a 74ppb Au infill auger anomaly, and BPM's ultra-fine fraction soil sampling raised historical auger values by about 50%. These results are regional context only and are not necessarily indicative of mineralisation at Corona.

Where the Acquisition Leaves Pantera

Pantera now holds Corona outright through E28/3555, held by its subsidiary Chevelle Minerals Pty Ltd, and E28/3556, whose owner Shiloh Resources Pty Ltd is now a wholly owned subsidiary. About 30% of the project has never been geochemically sampled. Heritage work is under way with the Upurli Upurli Nguratja native title holders, where no registered heritage sites exist on the project, and close-spaced ultra-fine fraction soil sampling planned over priority auger and aircore anomalies. The company reported about $1.7 million in cash at last quarter end, with $2 million due from EnergyX in April 2027, and said Corona does not divert funding or focus from its United States critical minerals projects.