Pantera agrees to buy WA gold project with 8km historical anomaly

Pantera could add an Australian gold exploration project to its US critical minerals portfolio for $200,000 cash and shares, subject to completion conditions.

Pantera Minerals (OTCQB:PTMLF)

NEW SOUTH WALES, AUSTRALIA, September 28, 2026 /EINPresswire.com/ -- Pantera Minerals (ASX: PFE; OTCQB: PTMLF) has entered into binding agreements to acquire the Corona Gold Project in Western Australia, gaining access to an 8-kilometer historical gold anomaly and several soil targets that have not been drill tested.
The proposed acquisition covers approximately 470 square kilometers about 200 kilometers east of Kalgoorlie. It gives Pantera a gold exploration position alongside its U.S. critical minerals portfolio, where drilling is underway at the Gillham antimony-silver project in Arkansas.

Historical aircore drilling at Corona returned results including 6 meters at 1.5 grams per metric ton of gold. Only one deeper reverse-circulation hole was drilled in the immediate prospect area, about 250 meters from the strongest historical aircore anomaly. Soil sampling in the western project area returned gold values as high as 128 parts per billion, but those targets have not been followed up with closer-spaced sampling or drilling.

Corona is in the Albany Fraser Orogen, along strike from BPM Minerals’ Beachcomber discovery. Results from neighboring projects provide regional context; they do not indicate what further exploration at Corona will find. Pantera has not confirmed Corona’s historical results through its own drilling or sampling.
The purchase price comprises $40,000 in cash and $160,000 in Pantera shares. The vendors will also receive royalties over their respective tenements, totaling 2% across the project. Pantera has the right to buy back half of each royalty for $1 million per vendor.

Completion remains subject to conditions including due diligence and any required ministerial consent. Pantera expects completion in October 2026. After that, it plans to address heritage and access arrangements, validate historical data, conduct closer-spaced soil sampling and seek approvals to drill its highest-priority targets.

Pantera Executive Chairman and CEO Barnaby Egerton-Warburton commented:
“While our primary focus is the U.S. when a project like Corona becomes available that is cheap, with real targets already defined and a clear path to drilling – we will take it. Eighty percent of the consideration is in Pantera shares, the royalty carries a fixed-price buyback, and our first-year spend goes into soils and drilling rather than the purchase price. We will keep doing deals like this whenever the entry cost is low and the upside is obvious."

“BPM has shown, just 25 kilometers along strike, that tight-spaced ultra-fine fraction soils over historical auger anomalies followed by RC drilling works in this part of the Albany Fraser. Their Beachcomber deposit sits under a single 105ppb soil point. Corona carries multiple auger points above that level on wider-spaced lines, together with an eight-kilometer bedrock anomaly that has seen one RC hole in its history. We intend to apply the same method, quickly.”

Jane Morgan
Jane Morgan Management
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