![]() The company’s share price responded in turn, climbing 73 per cent from a close of 7.8c the previous week to touch 13.5 cents. That drill intersection included a 12m thick lens grading a staggering 12,366ppm TREYO. Credit: Fileįurther south in WA’s Wheatbelt, Codrus Minerals unveiled some eye-watering rare earths air-core (AC) drill hits as high as 29m at 5915 parts per million total rare earth oxides and yttrium oxide (TREYO) at its Karloning project. Camera Icon Outcrop at Wildcat Resources’ Tabba Tabba project in the Pilbara. ![]() Management also plans to deploy a diamond drill rig to the site early next month to accelerate its evaluation of the new discovery. Wildcat says it has also received assays for the first 17 holes drilled in its northern pegmatite cluster and the best results include estimated true-width intersections of 21m at 1.1 per cent lithium oxide from 42m, 26m at 0.9 per cent from 76m, 20m at 1.3 per cent from 20m and 16m at 1.1 per cent from 17m. The best results include downhole lengths of 85m at 1.1 per cent lithium oxide from surface, with 59m at 1.5 per cent from surface and 218m at 0.8 per cent from 16m, including three higher-grade zones – 22m at 1 per cent from 31m, 23m at 1 per cent from 152m and 51m at 1.5 per cent from 183m to the end of the hole. The company says it has received assays for the first four holes drilled in the central pegmatite cluster. Wildcat Resources managing director Samuel Ekins. Given our proximity to major global lithium projects including Pilgangoora and Wodgina, we see plenty of potential to uncover a large-scale lithium deposit across the extensive 3.2km trending pegmatite system. I’m confident we are in the early stages of a major discovery at Tabba Tabba and it’s been a welcome surprise to see the size of the system. Regardless, wildcatting is still seen as a bit dicey in exploration, with Westwood Global Energy’s head of global exploration and appraisal Graeme Bagley saying in 2020 that the success rate for wildcat drilling in the oil and gas industry sat at about 30 per cent, with only one in three wells likely to make money.īut ConocoPhillips Scandinavia AS proved a year earlier that it is sometimes worth the risk when a wildcat it drilled in the Norwegian side of the North Sea rendered between one and 10 million standard cubic meters of recoverable oil equivalent.īut in the meantime, Wildcat Resources is still sharpening its claws as its results came from drilling in only a small area of a 3.2km trend of more than 50 outcropping pegmatite targets and from just 21 of the 87 holes drilled to date. ![]() The mounted feline ultimately gave its name to the hollow.īut even before that, the term wildcat is reported to have been used to describe risky business ventures as far back as 1838. There, it was said that a speculator who was having a crack at drilling in the narrow valley actually shot a wildcat, had it stuffed and set it atop his derrick. ![]() The theory leads to a delightful tale from a Pennsylvanian place known as Wildcat Hollow. But the company’s name got this column wondering just where the origins of the “wildcat” hole came from.įrom an exploration perspective, it appears to date back to the oil industry in western Pennsylvania in the mid-1870s, when wells in unproven territory were dubbed “wild cat” wells.
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