Pantera (ASX:PFE) will start drilling at the historic Gillham antimony project in August. The maiden program targets high-grade silver and antimony below old workings. First results due in H2.
Pantera Minerals (ASX:PFE) has signed a drilling contract with Dycus 3D and will begin the first-ever drilling at the historic Gillham project in southwest Arkansas next month. The maiden program of 10 diamond core holes for about 1,500 metres will test mineralisation beneath the Davis, Stewart and May mines. The company previously reported high-grade rock chips up to 19.2% antimony and 63.8 g/t silver, and soil anomalies extending over 2 km.
CEO Barnaby Egerton-Warburton said the drilling marks a major milestone. "Within weeks we will commence the first known drilling ever undertaken at the Gillham project," he said. "Our 2026 sampling programs delivered exceptional grades – rock chips up to 19.2% antimony and 63.8g/t silver, and soils peaking at 2,660ppm antimony – and every one of these 10 holes is designed to test mineralisation at depth beneath the historic Davis, Stewart and May mines."
Egerton-Warburton called antimony a designated critical mineral in the United States. "With the rig turning in the third week of August, shareholders can look forward to a steady flow of news through the remainder of the year," he added.
The Stewart and May mines historically produced stibnite, an antimony ore. Soil sampling along the Stewart/May trend defined two coherent antimony anomalies, each about 400 m and 500 m long, linked by a broader trend over 2,000 m of strike. The Davis mine is the largest historical operation in the area, with extensive underground development.
The US relies on imported antimony, with China supplying more than 70% of global output. No domestic antimony mines are currently active, though some small operations exist. A high-grade discovery at Gillham could help reduce that dependency. The silver grades are also significant, with silver prices near multi-year highs.
Pantera shares last traded at A$0.017, giving it a market cap of about A$8.4 million. The drilling program is fully funded, the company said. The rig is scheduled to start turning in the third week of August, with results expected to be released as they come in.
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