Wildcat Resources (ASX:WC8) unveiled a high-confidence updated mineral resource estimate for its Tabba Tabba lithium project in Western Australia.
The company reported a mineral resource of 74.1 million tonnes grading 1 percent lithium oxide at a cut off of 0.45 percent, for a total resource of 740,200 tonnes of lithium.
The MRE, updated on November 28, highlights that 94 percent of the resource is classified as indicated.
“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,” Managing Director AJ Saverimutto said in the press release.
The update also raised the project’s tantalum resource by 278 percent, bringing it to 1.28 million pounds of contained tantalum pentoxide from 1.2 million tonnes grading 428 parts per million at a 200 ppm cutoff.
The MRE is derived from nearly 115,000 meters of drilling, with 45 percent being diamond drilling, in addition to a variety of other analysis techniques. Drilling at the project began in July 2023, shortly after Wildcat announced its acquisition.
Located just 80 kilometers from Port Hedland, the world’s largest bulk export port, Tabba Tabba benefits from strategic proximity to key infrastructure and established lithium operations. Tabba Tabba includes granted mining leases that were previously used for tantalum production, most recently in 2015.
It is also near major hard-rock lithium mines, including Pilbara Minerals’ (ASX:PLS,OTC Pink:PILBF) Pilgangoora mine and Mineral Resources’ (ASX:MIN,OTC Pink:MALRF) Wodgina mine.
Wildcat said that the next steps for the project include completing the pre-feasibility study and ore reserve and progress project approvals, as well as a series of other test work and studies.
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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