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The Wildcat Resources Ltd (ASX: WC8) share price has made a significant upward move, surging 21% to reach a 52-week high of $1.01. This strong performance comes after the company reported assay results from the Tabba Tabba Lithium Project in Western Australia, indicating the discovery of a tier-1 lithium deposit.
The assay results specifically confirm that Wildcat is uncovering a substantial lithium deposit at Tabba Tabba, and the Leia Pegmatite is just one of six significant pegmatite prospects within the 3.2-kilometer-long field. Tabba Tabba is strategically located near some of the world's largest hard-rock lithium mines, with close proximity to the Pilbara Minerals Ltd (ASX: PLS) owned Pilgangoora Project and Mineral Resources Ltd (ASX: MIN) Wodgina Project. This demonstrates the significant potential within the region for lithium mining companies like Wildcat.
Wildcat is currently awaiting results for 34 holes from Leia and continues with its aggressive exploration campaign, completing approximately eight holes per week. The thick and high-grade assay results from Leia have led the company to conclude that Tabba Tabba hosts a significant lithium deposit. The project's favorable location on Mining Leases and its proximity to infrastructure in a prolific hard rock lithium district solidify it as one of the most promising lithium development opportunities in the industry.
The Wildcat Resources managing director, Samuel Ekins, expressed his satisfaction with the assay results from the Leia Pegmatite, reinforcing the project's potential as an outstanding lithium development opportunity.
