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Wildcat Resources Ltd (ASX:WC8) has delivered a mineral resource estimate (MRE) for its Tabba Tabba lithium project in Western Australia which it believes is the country’s biggest underdeveloped hard rock spodumene resource publicly reported.
The MRE for Tabba Tabba – built around almost 115,000 metres worth of drilling – is 74.1 million tonnes at 1.0% lithium oxide (Li2O), at a cut-off grade of 0.45% Li2O, with 94% of the resource estimate being in the higher-confidence ‘indicated’ category.
Wildcat is looking ahead to growing the resource, with this being underpinned by some of the exploration work already conducted at the project. Of the drilling done to date, 45% was diamond drilling, which is expected to facilitate detailed structural interpretation.
Given what is known about the Tabba Tabba project- which is built around the 100-metres thick Leia pegmatite, with mineralisation starting at surface – Wildcat is anticipating the option of a bulk-tonnage, open-pit mining operation.
Managing director AJ Saverimutto said the parameters of the project were impressive.
“We have now confirmed Wildcat has the largest and the highest confidence undeveloped publicly reported lithium resource in Australia which was delivered in record time,” he said.
“With significant other advantages including granted Mining Leases, proximity to port,
outcropping mineralisation, and excellent metallurgical recoveries we believe we are the best potential lithium developer globally.”
At 10:38 AEDT, Wildcat was trading at 24.5 cents – a fall of 2% since the market opened.
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