Wildcat Resources Limited (ASX:WC8) Announces Strong Drilling Results for Lithium and Gold Projects
Exploration Updates
Wildcat Resources Limited (ASX:WC8) reported robust drilling results from its Tabba Tabba Lithium Project in Western Australia. Near-surface drilling at the Hutt and Chewy pegmatites returned intercepts of 33.0m @ 1.4% Li₂O from 29.0m, 27.6m @ 1.1% Li₂O from 8.4m, and 18.0m @ 1.6% Li₂O from 53.0m. The company is advancing lithium and gold targets across its extensive Pilbara landholdings, with drill planning underway for the Bolt Cutter Central prospect, which has shown rock chip results up to 4.67% Li₂O.
Mt Adrah Gold Project
At the Mt Adrah Gold Project in New South Wales, Wildcat updated its Mineral Resource Estimate to 20.5Mt @ 1.1 g/t Au, containing 770,000oz of gold. Previous drilling at the Hobbs Pipe and other reefs returned significant gold intercepts, including 886.0m @ 1.2 g/t Au from surface and 826.0m @ 1.3g/t Au from surface, as well as high-grade intercepts such as 10.0m @ 17.7 g/t Au. The company has allocated up to $1.3m for exploration in CY2025 to continue advancing these opportunities.
Financial Position
Wildcat maintains a strong cash balance of $63.6 million as of December 31, 2024. This robust financial position ensures the company is well-funded to continue exploration and development activities at both the Tabba Tabba and Mt Adrah projects.
Executive Comments
Torrin Rowe, Geology Manager at Wildcat, stated, “Exploration is a part of Wildcat’s DNA, resulting in the successful discovery of the flagship Tabba Tabba lithium deposit. While progressing the newly defined resource through a PFS, the team continues to advance targets with exploration drilling planned in the Pilbara, WA as well as at Mt Adrah, NSW. Continued exploration success is critical to the growth of Wildcat and the team is committed to expanding the mineral footprint at both projects.”
Motley Fool contributor Lauren Surplice 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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