Explorers sometimes add low-cost projects near recent discoveries. Pantera Minerals (ASX:PFE; OTCQB:PTMLF) announced on 29 September 2026 binding agreements to acquire the Corona Gold Project in Western Australia.

Company overview

Pantera Minerals (ASX:PFE) is focused on United States critical minerals. It describes the Corona Acquisition as opportunistic and low cost, not diverting funding or focus from that strategy.

The acquisition

Pantera will acquire 100% of granted exploration licences E28/3555 and E28/3556 (about 470 square kilometres), 200 kilometres east of Kalgoorlie. Consideration is A$200,000, made up of A$40,000 cash and A$160,000 in Pantera shares, plus a 2% gross Revenue Royalty with a buy-back right.

Exploration case

Corona has an 8 kilometre continuous gold-in-bedrock aircore anomaly with historical intercepts including 6 metres at 1.5 g/t gold from 66 metres, with only one RC hole near the peak anomaly. Auger gold anomalies peak at 128 ppb and have not been drill tested. The project is 10 to 25 kilometres along strike from BPM Minerals’ Beachcomber discovery, which returned 3 metres at 65.8 g/t gold, though Pantera notes neighbouring results are for context only.

Terms and strategic framing

Consideration of A$200,000 comprises A$40,000 in cash and A$160,000 in Pantera shares, with a 2% gross revenue royalty and a buy-back right. The company describes the acquisition as low cost with defined drill targets, and states that it does not divert funding or focus from Pantera’s United States critical minerals strategy. Pantera is also quoted on the OTCQB market under the code PTMLF.

Corona prospect and historical data

The Corona prospect is an 8 kilometre continuous gold-in-bedrock aircore anomaly along a major interpreted structure. Historical intercepts include 6 metres at 1.5 g/t gold from 66 metres (including 2 metres at 2.55 g/t), 11 metres at 0.29 g/t from 93 metres and 2 metres at 0.83 g/t from 104 metres to end of hole. Only one RC hole has been drilled in the immediate prospect area, about 250 metres from the peak historical aircore anomaly.

In the western project area, auger gold anomalies peak at 128 ppb, including consecutive samples of 128, 87 and 79 ppb that have not been infilled or drill tested.

Regional context cited

The tenure lies in the same structural corridor as the Tropicana gold mine, about 200 kilometres to the north-east, which the release cites at 7.89 million ounces at 2.08 g/t. BPM Minerals’ June 2026 first-pass RC drilling of ultra-fine fraction soil anomalies intersected gold at every target tested, including 1 metre at 85.61 g/t and 9 metres at 7.77 g/t. Pantera notes these results are for regional context only.

Sector backdrop

The Albany Fraser Orogen has attracted exploration after recent discoveries, and nearby results do not indicate outcomes at other projects.

The Albany Fraser Orogen has attracted new exploration since recent discoveries, with companies applying soil geochemistry techniques to find gold under cover. Large regional anomalies need drilling to determine whether they reflect economic mineralisation.

Royalties with buy-back rights are used in tenement purchases to defer cost, though they reduce potential future returns.

Risks shareholders should weigh

The project is early stage and untested by modern drilling. The royalty reduces future returns.

Share consideration and conditions apply, and the project is a secondary focus.

Exploration needs funding.

The acquisition is a secondary focus for Pantera, whose core strategy is United States critical minerals, so exploration at Corona may compete for management time.

Historical intercepts are modest in grade, and no modern systematic drilling has tested the anomaly.

What’s next

Pantera will complete the acquisition and plan drilling. Shareholders may wish to watch for settlement and work programs.

Shareholders may wish to watch for completion of the acquisition, any Shareholder approvals for the shares and the design of a first drilling program.