- Wildcat Resources (WC8) is beginning reverse circulation drilling at the Red Panda lithium, caesium, and tantalum pegmatite near the Bullabulling Project in WA
- Six holes over 1000 metres are scheduled to be completed in two traverses across the pegmatite to assess the composition, mineral zonation, depth extend and geometry
- The drilling is part of an option agreement to commence a joint venture (JV) with Fairplay Gold to earn in to its Bullabulling Project
- Wildcat Resources last traded at 3 cents each
Wildcat Resources (WC8) has begun reverse circulation drilling at the Red Panda lithium, caesium, and tantalum pegmatite near the Bullabulling Project in WA.
Six holes over 1000 metres are scheduled to be completed in two traverses across the pegmatite to assess the composition, mineral zonation, depth extend and geometry.
The reverse circulation program is designed to provide a continuous heel-to-toe traverse across Red Panda.
CEO Samuel Ekins explained two holes were set to be drilled at right angles to the central traverse to confirm the lateral margins and the pegmatite’s geometry.
“Inspection of the costean and outcrop confirms that the pegmatite is fractionated and zoned, with coarse lepidolite and zinnwaldite in the costean on the southwest margin, progressing to massive microcline and then to plagioclase with perthitic quartz and possible disseminated tantalite observed in subcrop when traversing towards the centre of the pegmatite,” Mr Ekins said.
The drilling is part of an option agreement to commence the recently announced joint venture (JV) with Fairplay Gold to earn in to its Bullabulling Project.
Through the JV, Wildcat will pay $50,000 for an exclusive option period to drill at Red Panda and in return will earn an interest of up to 75 per cent in the non-gold rights of Fairplay’s 65 square kilometres Bullabulling project.
Before market open on Thursday, Wildcat Resources last traded at 3 cents on September 29.