Wildcat Resources (ASX: WC8) has inked an agreement for non-gold rights with Fairplay Gold Pty Ltd to earn in to their Bullabulling Project, located approximately 23km west of Coolgardie in Western Australia.
Bullabulling is described by Wildcat as an under-explored project prospective for lithium, caesium, and tantalum, with solid infrastructure including road, rail, and power.
Under the terms of the agreement, Wildcat will drill 1,000m and pay $50,000 for an exclusive 6-month option period, earning up to 75% of the non-gold rights of the project. The company’s priority target is a drill-ready 450m x 250m sub-cropping lithium-caesium-tantalum (LCT) pegmatite body named Red Panda.
“Fairplay have done a great job identifying Red Panda, which has … the potential to be a massive body rather than a narrow dyke”
Wildcat Resources CEO Samuel Ekins said: “Fairplay have done a great job identifying Red Panda, which has a unique surface expression and the potential to be a massive body rather than a narrow dyke, and as such it could be highly evolved and enriched in economic minerals.”
Red Panda was discovered by Fairplay when prospecting a vegetation anomaly associated with acacia scrub in bushland near Bullabulling. The vegetation anomaly correlated with sub-cropping pegmatite, forming a pear-shaped body with a surface expression 450m long and 250m wide.
Red Panda (top left) with surrounding LCT projects and occurrences in the Eastern Goldfields. Image: Wildcat Resources LimitedXRD analysis on the margin of Red Panda returned a sample including 1% spodumene, indicating that the pegmatite could contain spodumene in a zone internal to the lepidolite-rich margin.
Geochemical analysis of costean samples returned high lithium, caesium, tantalum, rubidium, and niobium values. Importantly, the caesium and tantalum results with maximum readings of 0.27% Cs and 0.18% Ta represent high values for the margins of an LCT pegmatite.
Wildcat notes that these features lend support for the potential for Red Panda to be a tantalum-rich analogue of the Sinclair caesium deposit located approximately 35km north of the town of Norseman.
