- Wildcat Resources (WC8) enters an agreement to earn into Fairplay Gold’s Bullabulling Project in Western Australia
- Under the agreement, Wildcat will pay $50,000 for an exclusive option period and can earn up to 75 per cent of the project
- The company will also drill 1000 metres at the lithium-caesium-tantalum pegmatite body known as Red Panda
- After a few months, Wildcat will undertake mapping and sampling of Bullabulling to define more drill targets
- Shares in Wildcat are up eight per cent, trading at 2.7 cents at 2:08 pm AEST
Wildcat Resources (WC8) has entered an agreement to earn into Fairplay Gold’s Bullabulling Project in Western Australia.
The Bullabulling Project lies roughly 23 kilometres west of the town of Coolgardie and is close to infrastructure, road, rail and power.
It is underexplored and is prospective for lithium, caesium and tantalum (LCT) mineralisation.
Under the agreement, Wildcat will pay $50,000 for an exclusive option period and can earn up to 75 per cent of the project.
Wildcat will also drill 1000 metres at the LCT pegmatite body named Red Panda.
Red Panda was discovered by Fairplay when prospecting a vegetation anomaly which correlates with sub-cropping pegmatite.
Geochemical analysis returned high lithium, tantalum, caesium, niobium and rubidium values with up to 0.27 per cent caesium and 0.18 per cent tantalum intersected.
CEO Samuel Ekins is excited to begin drilling at Bullabulling.
“This is an excellent opportunity to be the first to drill a compelling LCT pegmatite target named Red Panda,” Mr Ekins commented.
“Fairplay has done a great job identifying Red Panda, which has unique surface expression and the potential to be a massive body rather than a narrow dyke, and as such it could be highly evolved and enriched in economic minerals.
“The geometry and potential for significant mineral differentiation makes Red Panda a possible analogue of the Sinclair caesium deposit located north of Norseman, and it is similarly located close to road, rail and power infrastructure.”
After a few months, Wildcat will undertake mapping and sampling of Bullabulling to define more drill targets.
Shares in Wildcat are up eight per cent, trading at 2.7 cents at 2:08 pm AEST.