Wildcat Resources (ASX:WC8) has reported another round of ‘exceptional’ drilling results from the Leia pegmatite within its Tabba Tabba Lithium Project in Western Australia.
The results include a 119.2m hit @ 1% Li2O from 334.3m in hole TADD010, which included a 31m zone grading 1.7% Li2O from 336m and a 34.5m zone @ 1.2% Li2O from 418.5m.
Wildcat says with these new results, the ‘giant’ Leia pegmatite is now over 2.2km long, with mineralisation from surface and continuing at depth.
However, it seems investors may have been expecting something more from today’s results; Wildcat shares were down 8.387% to $0.710aas of 3.30om AWST today (5 March 2024).
Despite this dip, Wildcat shares are still trading some 2,100% higher than they this time last year when shares were at about $0.030.
Wildcat has completed 24 diamond holes and 4 reverse circulation (RC) holes in the area since mid-January 2024, meaning all up, the company has now drilled 202 holes for 54,276m at Tabba Tabba since launching its maiden drilling campaign in mid-2023.
The company says it’s still awaiting assay results for 27 holes and 3,294 samples from the area.
Leia, which remains Wildcat’s core focus, represents just one of 6 pegmatite prospects within the 3.2km-long lithium-caesium-tantalum field at Tabba Tabba. Wildcat says all prospects — which induce Boba, Chewy, Tabba Tabba Ta, Han, and Hutt — remain open in all directions.
Wildcat has 2 diamond rigs spinning at Leia to explore the pegmatite to its extent and 2 more diamond rigs completing infill work to increase data density for geological and resource modelling. Further to these, the company has an RC rig on site to drill pre-collars for the diamond work.
Alongside its recent drilling work, Wildcat has completed high-resolution ground gravity and magnetic surveys, drone aerial imagery and light detection and ranging (LiDAR) work, and geological mapping work across the area over January and February.
Meanwhile, drilling is also underway at the Hutt and Han pegmatites to follow up on the company’s discoveries in the areas in 2023.
Tabba Tabba lies nearby to some of the world’s largest hard-rock lithium mines, including Pilbara Minerals’ (ASX:PLS) 414-million-tonne Pilgangoora Project and Mineral Resources’ (ASX:MING) 259Mt Wodgina Project.
Images: Wildcat Resources
