The Wildcat Resources Ltd (ASX: WC8) share price is doing it again.
And by 'it', I mean rocketing higher.
On Friday, we noted that the ASX lithium explorer had already gained a stellar 2,050% in 2023. Most of those gains have come since May when the miner acquired the Tabba Tabba lithium-tantalum project in Western Australia's Pilbara region. The project is situated in proximity to some of the world's largest hard-rock lithium mines.
That acquisition has proven highly lucrative for the company and its stockholders, with Wildcat reporting a series of successful exploration results.
This morning, the Wildcat Resources share price is up another 27.0%. Shares are swapping hands for 59 cents apiece following further promising results at Tabba Tabba.
That brings the ASX lithium miner's gains to an eye-popping 2,825% year to date, in a year that's seen the All Ordinaries Index (ASX: XAO) lose 1%.
Here's what the lithium explorer reported this morning.
Wildcat Resources share price leaps on lithium results
Investors are bidding up the Wildcat Resources share price after the miner reported on the results of the third batch of assays from its maiden drilling program at Tabba Tabba.
According to management, the results indicate that Tabba Tabba has the potential to host a Tier-1 lithium deposit at the Leia Pegmatite. The company said that diamond core and initial mineralogical work via Fourier-transform infra-red (FTIR) has confirmed coarse spodumene as the dominant lithium mineral.
Commenting on the results sending the Wildcat Resources share price rocketing again today, managing director Samuel Ekins said:
We continue to be encouraged by the Leia Pegmatite's scale, grade and tabular consistency having still not found the edges of it with drilling. It really feels as though we are in the midst of a Tier 1 lithium discovery at Tabba Tabba.
The miner noted that the Leia Pegmatite was now more than 1.5 kilometres long, 50 metres wide, 400 metres down plunge (250 metres vertical from the surface), as well as thickening and open laterally and at depth.
Assay results for 36 drill holes Wildcat Resources has already completed at Leia are still pending.
Stay tuned.
