- Wildcat Resources (WC8) announces a major lithium discovery at its Tabba Tabba project in WA
- The company reported two thick intersections at depths of less than 100 metres
- Results were on the lower end of high-grade cut-offs at 1.1 per cent and 0.8 per cent lithium respectively
- A batch of assay results for 66 drill holes are expected in the coming weeks and months
- A diamond drill rig will be arriving on-site in October to further test mineralisation
- A cluster of lithium targets has been grown to more than one kilometre in strike length supported by positive lithium hits
- WC8 shares are up more than 80 per cent, trading at 43.5 cents at 3:10 pm AEST
Wildcat Resources (WC8) caught the market’s attention in early trades on Monday as it announced a major lithium discovery at its Tabba Tabba project in Western Australia.
It’s an impressive result for the company which was worth less than 5 cents this time last year. Today, it’s taking a run at 50 cents.
One-year performance is up more than 1000 per cent.
High-grade lithium mineralisation at significant intersections was found at sub-100 metres depth on-site at the central cluster target. The results, Wildcat reports, are evidence of a potential large-scale lithium system.
The best result highlighted reflected an 85-metre thick intersection at 1.1 per cent lithium. A second 218-metre-thick 0.8 per cent lithium was found starting at 16 metres depth.
That was the central cluster. The northern cluster target returned a 21-metre-thick intersection at 1.1 per cent lithium from 42 metres of depth; the second best was a 20-metre-thick intersection at 1.3 per cent lithium.
The results effectively expand the size of Wildcat’s premiere targets.
The central pegmatite target zone is now perceived as exceeding a 1.2 kilometre-long strike at widths of 50 metres generally and up to 132 metres in some sections.
Over 66 drill holes are still pending assay results with over 15,000 metres drilled across Wildcat’s total 2023 exploration campaign.
A diamond drill rig, which returns whole cores to surface, will be on-site in October. A stream of assay results is expected to make its way to Wildcat management’s desk in the coming weeks and months.
“Over 95 per cent of all holes to date have intersected pegmatites and we eagerly await further assays … given our proximity to major lithium projects, we see plenty of potential,” Wildcat Managing Director Samuel Ekins said.
“[We bring] our first diamond rig onto site in early October, with more results from our initial drilling expected also.”
WC8 shares were up more than 80 per cent, trading at 43.5 cents at 3:10 pm AEST.