Pantera Minerals has expanded its Lithium Brine Project in Arkansas, US, by an additional 3,728 acres, marking a 16.7% increase in its total acreage.

The company now has more than 25,998 net acres leased in a region, known for high-grade lithium brine deposits.

With ongoing negotiations for more land, Pantera continues to strengthen its position in the lithium sector.

The Smackover Formation in Arkansas, where Pantera's project is located, comprises lithium-rich brine resources.

The project's exploration target, within the 50,000-acre Exclusive Abstract Area, estimates a potential yield of 436,000–2,966,000t of contained lithium carbonate equivalent (LCE).

These figures are based on lithium concentrations ranging from 225 milligrams per litre (mg/litre) to 450mg/litre, with a median of 338mg/litre, indicating the project's world-class scale potential.

A key factor in the project's advancement is the Exclusive Abstract Agreement with the sole commercial provider of mineral ownership abstract information for the area.

Pantera Minerals executive chairman Barnaby Egerton-Warburton said: “Our exclusive abstract agreement has continued to deliver for the company with over 25,998 acres now under lease in America’s new “Lithium Capital “as other groups in the play now surround us to the east, north, north-west and west of our acreage position.

“The significant investments by leading companies such as ExxonMobil, Equinor and Standard Lithium in the Smackover region highlight the immense potential in this area.

“Our partnership with global technology company SLB and the imminent arrival of the advanced subsurface modelling will accelerate Pantera’s progress as we prepare for the first re-entry test well.”

Earlier this year, Pantera acquired Daytona Lithium, gaining sole ownership of the Superbird Lithium Brine Project in Arkansas.