Wildcat Resources Limited (ASX:WC8) Reports Major Lithium Resource Upgrade
Major Resource Estimate
Wildcat Resources Limited (ASX: WC8) announced the maiden Mineral Resource Estimate (MRE) for the Tabba Tabba Lithium Project, confirming Australia’s largest undeveloped lithium resource, with a total of 74.1 million tonnes grading 1.0% lithium oxide (Li2O). Approximately 94% of this resource is classified as Indicated, showcasing the project’s high confidence in mineralisation.
Geological Confidence and Exploration Success
The MRE was achieved following over 115,000 metres of drilling since Wildcat acquired the project 18 months ago, demonstrating the effectiveness of Wildcat’s exploration strategy. According to Managing Director AJ Saverimutto, “We have now confirmed Wildcat has the largest and highest confidence undeveloped publicly reported lithium resource in Australia which was delivered in record time.” He emphasised the significance of the resource in positioning Wildcat as a leading global lithium developer.
Mining Viability and Infrastructure
The Tabba Tabba Project is located just 80 km from Port Hedland, the world’s largest bulk export port. This advantageous location, combined with granted mining leases and substantial mineral thicknesses, indicates strong potential for a bulk-tonnage, open-pit mining operation. The company also reported a robust cash position of $69.3 million as of September 30, 2024, facilitating accelerated project development.
Future Plans and Tantalum Resource Update
Wildcat intends to complete Pre-Feasibility Studies (PFS) and Definitive Feasibility Studies (DFS), focusing on expanding the lithium resource and further advancing the Tabba Tabba Tantalum Mineral Resource Estimate, which has seen a significant increase of 278% in tonnage to 1,202 kilotonnes at 482 parts per million tantalum pentoxide (Ta2O5). This tantalum resource lies directly above the lithium deposit, potentially enhancing project economics.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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