In the mineral-rich landscapes of Western Australia's Pilbara, Wildcat Resources has made a spectacular leap with a significant lithium find at the historical Tabba Tabba tantalum workings. The exploration endeavors around this area have been fruitful, catapulting Wildcat into the spotlight of the mining sector with their thick lithium hit.
Impressive Intercepts Signal Major Lithium Deposit
Since securing the Tabba Tabba ground in May through a share exchange with Resource Capital Funds' Global Advanced Metals, Wildcat Resources initiated drilling in July and has since reported outstanding results. The most notable being a 180-meter intercept at 1.1% lithium from 206 meters depth, which includes an even higher-grade section of 55 meters at 1.4% lithium.
The Leia pegmatite, the site of these intercepts, extends over 1.65 kilometers in length and up to 180 meters wide. It continues to show potential both along strike and at depth beyond 350 meters, with exploratory drilling hinting at abundant spodumene reaches down to at least 500 meters.
Strategic Location and Infrastructure Advantage
Situated within granted mining leases, Tabba Tabba's proximity to the globally recognized Pilgangoora and Wodgina operations is a strategic boon. The existing infrastructure that serves these mining giants also supports access to the crucial Port Hedland, making Tabba Tabba a standout lithium development opportunity.
Bold Vision Backed by Drilling Confidence
With over 30,000 meters of drilling completed, Samuel Ekins, the managing director of Wildcat Resources, envisions Tabba Tabba evolving to rival its well-known neighbors in the lithium domain. Wildcat has now introduced a second diamond core drilling rig to delve deeper into the Leia orebody, while another RC rig explores the wider pegmatite system.
Market Impact and Future Prospects
Analysts from Argonaut Securities forecast that Tabba Tabba could host an impressive 100 million tonnes of ore, grading 1% lithium, amounting to approximately 961,000 tonnes of contained lithium. This anticipation has propelled Wildcat's market capitalization from $20 million to about $1 billion post-acquisition. The company's shares surged by 16% today, with peaks reaching a record high of $1.01.
Wildcat's growth trajectory, from trading at 2c per share just over a year ago to its current valuation, is underscored by the acquisition of a 20% stake by Mineral Resources, which operates the neighboring Wodgina mine, through a strategic $170 million investment.
For comprehensive coverage and in-depth analysis of the impact of Wildcat's lithium discovery on the mining sector, visit mininginsights.org.
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