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    WC8   AU0000096828

WILDCAT RESOURCES LIMITED

(WC8)
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Wildcat Resources : PROSPECTIVE LCT CORRIDOR IDENTIFIED AT RED PANDA Li PROJECT

01/12/2022 | 05:41pm EST

ASX Announcement

13 January 2022

PROSPECTIVE LCT CORRIDOR IDENTIFIED AT

RED PANDA LITHIUM PROJECT WA

Highlights

only

LCT pegmatites confirmed at Wildplay JV

Assays returned for RC drilling at Red Panda1 and rock chip samples2

Geochemical vectors define prospective NNE trending corridor

Mapping and geochemical program to commence imminently

Wildcat Resources Limited (ASX: WC8) ("Wildcat" or "Company") is pleased to announce that assay results have been returned for RC drilling and rock chip usesampling at the Wildplay JV Project in the Eastern Goldfields, WA3. The results were reviewed by consulting geochemist Dr Nigel Brand and confirm the presence of evolved LCT pegmatites with geochemical vectors indicating a prospective NNE trending corridor extending from Red Panda to the eastern margin of the Wildplay

JV tenements (Figure 1). Follow up field work is to commence imminently. personalFor

Figure 1: Wildplay Project with priority targets for detailed soil sampling and drill target delineation in red

  1. ASX announcement 8th Oct 2021: https://www.investi.com.au/api/announcements/wc8/587c9c14-ca0.pdf
  2. ASX announcement 28th Oct 2021: https://www.investi.com.au/api/announcements/wc8/c9ee1a40-9bd.pdf
  3. ASX announcement 28th Sep 2021:

https://www.investi.com.au/api/announcements/wc8/4aaca066-af7.pdf

ASX Announcement

13 January 2022

Chief Executive Officer Samuel Ekins said "Analysis of exploration results by the exploration team has confirmed that Red Panda and other pegmatite occurrences within the Wildplay JV straddle the "Goldilocks Zone4" for mineralised LCT pegmatites. Review of the RC and rock chip data along with further research of open file data has confirmed a priority target zone extending from Red Panda

onlyalong a 2km long NNE trend to the eastern side of the tenement package. The new target area will be effectively and rapidly assessed by mapping and geochemical sampling utilising a portable XRF to confirm targets for follow up drilling."

Red Panda RC drilling results

Assay results from samples of pegmatites intercepted by RC drilling at Red Panda in October1 show a clear trend in their composition, from a highly fractionated granite through evolved fertile granite to spodumene LCT pegmatite. This is based on assay results of Li and Mg (Figure 2), and further analysis of Nb, Ta, K, Rb, Ga, Zr, Hf and Cs. Despite low Li values, the geochemical data show that the first phase of drilling has intercepted enriched LCT pegmatites that may be associated with

usemineralised LCT pegmatites nearby. Further surface sampling and drilling is required to identify the mineralised zones.

Of additional significance is increasing Li trends in two holes, RPRC0005 and RPRC0006, suggesting possible near misses (10m to 20m proximity) to a mineralised LCT pegmatite. RPRC0006 shows a significant increase from 200ppm Li at 52m to 400ppm Li to the end of hole in the lower amphibolite facies basalt host rock after passing through 39m of evolved LCT pegmatite from 13m that returned

up to 0.09% Li. The increasing Li in the footwall mafic rocks suggests proximal alteration and increasing personalproximity to LCT pegmatite in RPRC0006 with depth. Similarly, RPRC005 returned 0.14% Li at 33m to

35m in amphibolite facies basalt suggesting proximal near miss alteration at that depth. For

Figure 2: Li vs Mg/Li LCT rock classification graph for the Red Panda RC drilling showing an increasing Li trend in the greenstone rocks (green) consistent with alteration associated with LCT pegmatite intrusions; and pegmatite values (pink) trending towards enriched spodumene LCT composition. (The assays below a Mg/Li ratio of 10 are listed in Appendix 1).

4 The "Goldilocks Zone" describes a package of suitably metamorphosed host rocks containing evolved pegmatites that is sufficiently proximal to a pegmatite source to be considered prospective for LCT pegmatites as discussed in Brand, N.W., Crook, D.J., Kerr, S.T., Sciarrone, S.O., Potter, N.J., Brand, C.J., and Batt, G.E. 2021. Sinclair: Australia's first caesium

deposit: Discovery and exploration implications. Explore, newsletter for the Association of Applied Geochemists. 190.

ASX Announcement

13 January 2022

Wildplay reconnaissance rock chip results

Assays returned from fieldwork completed in late October2 in combination with samples collected by Fairplay Gold in 20205 show a profound pegmatite fractionation trend when plotted on a LCT rock classification graph of Li against a ratio of Mg/Li (Figure 3). Note that the samples plotting in the onlymineralised LCT range were collected by Fairplay Gold and are sourced from the Red Panda costean and the Ubini Prospect. The fractionation trend, coupled with Rb anomalies identified in open file data (Figure 6, Appendix 3), can be used as a geochemical vector. The vector shows that the pegmatites at the Wildplay JV range from barren through to lepidolite rich and become progressively more evolved and prospective for LCT mineralisation at the P2 Prospect and towards the eastern side of the tenement package at Red Panda and continuing NNE. A NNE trending priority target corridor has been identified for detailed soil geochemical sampling to delineate targets for

follow up RC drilling (Figure 1).

use

personal

Figure 3: Li vs Mg/Li LCT rock classification graph for rock chips collected by Wildcat and Fairplay Gold across the Wildplay JV

area showing a profound trend towards enriched spodumene LCT pegmatite. Sample locations and assays listed in Appendix

2 and shown on Figure 6 in Appendix 3.

Next Steps

For

- Geological mapping and targeted soil sampling to constrain the footprint of the prospective

LCT corridor extending along a 2km NNE trending zone from Red Panda to the eastern side of the project and at the P2 Prospect

- Drill testing the priority zones of the LCT corridor

- Reconnaissance fieldwork over remaining unexplored tenements

ASX Announcement

13 January 2022

About Wildplay

Wildcat has entered an option agreement to earn an interest of up to 75% in the non-gold rights of Fairplay Gold Pty Ltd's 65km2 Bullabulling Project (Wildplay JV)1, located approximately 20km west of

Coolgardie in the Eastern Goldfields, WA. Additionally, the Bullabulling Project includes 137km2

of

only

tenements under application.

The project is hosted in a folded package of upper greenschist to mid amphibolite facies mafic, ultramafic, sedimentary, and felsic to intermediate Archaean aged rocks on a trend containing LCT pegmatites at Ubini that were mined in the early 1900s.

Red Panda is a LCT pegmatite prospect defined by RC drilling and subcropping occurrences of pegmatite that include abundant quartz and pegmatite float at surface. The mineralogical and geochemical associations from costean samples confirm that the outcropping pegmatite at Red Panda is an evolved LCT pegmatite1. RC drilling and fieldwork in September and October 2021 by Wildcat demonstrates that multiple pegmatites in the area around Red Panda are fractionated, with evolved compositions consistent with pegmatites proximal to mineralised pegmatites.

use

- ENDS -

This announcement has been authorised by the Board of Directors of the Company.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Matthew Banks

Mr. Samuel Ekins

Executive Director

Chief Executive Officer

Tel: +61 (8) 6555 2950

Tel: +61 (8) 6555 2950

info@wildcatresources.com.au

info@wildcatresources.com.au

personalforward-looking statements. Although

Wildcat Resources Limited believes that its expectations

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Wildcat Resources Limited's planned exploration programme and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may", "potential," "should," and similar expressions are

reflected in these forward-looking statements are reasonable, such statements involve risks and Foruncertainties and no assurance can be given that actual results will be consistent with these forward-

looking statements.

Competent Person's Statement

The information in this report that relates to Exploration Results for the Red Panda Project is based on, and fairly represents, information compiled by Mr Samuel Ekins, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr Ekins is a fulltime employee of Wildcat Resources Limited. Mr Ekins has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Mr Ekins consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

ASX Announcement

13 January 2022

Appendix 1 - Red Panda RC drilling assay results for Mg/Li ratio less than 10 (evolved composition)

Hole ID

RPRC0001 onlyRPRC0001 RPRC0001

RPRC0001 RPRC0005 RPRC0005 RPRC0005 RPRC0005 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 useRPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006

RPRC0006 personalRPRC0006 RPRC0006

RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006 RPRC0006

For

Hole Type

Easting

Northing

Elevation

Hole

Dip

Azi

From

To

Interval

Be

Cs

Ga

Hf

K

Li

Mg

Nb

Rb

Ta

Zr

MGA (m)

MGA (m)

AHD (m)

length (m)

(deg)

(MGA)

(m)

(m)

(m)

(ppm)

(ppm)

(ppm)

(ppm)

(%)

(ppm)

(%)

(ppm)

(ppm) (ppm) (ppm)

RC

301834

6577320

450

102

-60

201

15

16

1

2.6

26.9

54.0

1.3

2.6

56.0

0.1

38.4

894.6

13.4

12.0

16

17

1

2.5

49.3

54.2

1.8

2.3

127.6

0.0

61.8

793.5

17.8

18.4

17

18

1

3.5

25.1

53.9

3.3

1.4

89.4

0.0

49.8

469.5

12.9

30.7

18

19

1

3.5

24.0

51.7

1.8

1.4

88.5

0.1

43.5

435.4

11.5

18.3

RC

301861

6577437

450

132

-60

112

26

27

1

4.2

20.6

39.6

1.0

2.3

112.0

0.2

79.3

808.9

16.2

12.4

27

28

1

3.8

16.9

42.3

1.1

2.1

66.2

0.0

99.3

514.6

22.4

11.7

28

29

1

4.3

15.8

45.8

1.7

2.1

65.8

0.0

156.5

577.7

35.5

15.6

33

35

2

13.3

186.7

89.4

4.4

3.1

1391.9

2.4

128.6

2000.0

37.4

75.6

RC

301874

6577286

450

78

-60

103

0

1

1

5.6

47.3

59.8

0.9

1.5

219.4

0.1

64.0

454.0

17.5

6.6

1

2

1

8.4

24.0

69.3

1.9

0.9

157.2

0.1

80.1

258.4

28.1

17.9

2

3

1

11.4

92.2

65.6

1.0

3.2

173.5

0.0

57.9

1244.4

26.1

6.6

14

15

1

3.3

23.1

51.7

1.7

2.4

106.6

0.1

78.1

689.5

16.2

16.8

18

19

1

5.2

47.8

59.8

2.9

3.8

148.3

0.2

87.0

1094.4

35.8

25.9

19

20

1

1.8

27.9

44.8

0.8

6.2

42.9

0.0

36.7

1401.8

11.1

7.8

20

21

1

1.8

13.9

45.5

1.9

3.9

48.7

0.0

49.9

1104.0

12.9

19.8

21

22

1

3.3

8.9

55.7

3.1

1.5

49.6

0.0

117.9

397.4

40.5

28.8

22

23

1

2.9

8.6

52.9

3.0

1.4

47.3

0.0

97.8

374.6

33.8

27.3

23

24

1

3.0

17.1

45.5

1.8

3.0

64.8

0.0

66.5

913.4

19.0

18.0

24

25

1

2.4

11.9

48.0

1.7

1.9

75.5

0.0

85.3

525.6

19.9

17.5

25

26

1

2.8

14.9

53.7

1.4

2.1

102.4

0.0

87.0

590.2

18.9

14.3

26

27

1

1.6

9.0

45.2

2.3

2.5

52.4

0.0

89.1

599.4

21.1

24.5

27

28

1

11.9

77.8

46.5

1.9

4.1

484.8

1.0

56.9

1492.4

27.8

34.0

29

30

1

4.2

22.6

49.4

3.1

2.1

145.7

0.2

62.2

487.1

23.7

33.6

30

31

1

2.1

20.3

48.5

2.6

3.5

61.1

0.0

74.1

1083.6

30.0

21.4

31

32

1

2.1

21.4

42.7

2.0

4.3

59.9

0.0

63.8

1241.9

19.9

19.4

32

33

1

2.3

21.7

43.6

2.0

4.2

202.6

0.0

59.6

1145.9

18.1

17.0

33

34

1

2.3

24.9

46.8

3.0

3.8

83.4

0.0

69.4

1151.8

24.2

25.1

34

35

1

2.2

46.0

46.9

1.7

6.6

90.3

0.0

44.0

2000.0

13.6

13.6

35

36

1

2.5

32.8

57.1

1.6

4.7

178.3

0.0

77.1

1615.0

21.5

12.9

36

37

1

2.2

23.8

87.7

0.7

4.5

399.9

0.0

105.2

1692.0

16.3

5.7

37

38

1

1.9

23.6

48.8

0.3

6.0

152.9

0.0

49.0

1689.5

7.7

2.8

38

39

1

3.4

20.6

50.0

0.6

3.0

135.9

0.0

113.6

840.9

22.3

5.9

39

40

1

1.8

20.8

52.8

0.4

4.6

161.5

0.0

70.9

1256.0

12.4

3.5

40

41

1

1.8

23.9

37.2

0.4

5.3

96.2

0.0

82.8

1464.4

17.8

4.2

41

42

1

1.8

33.5

44.7

0.6

7.6

94.9

0.0

57.8

2000.0

13.4

5.3

42

43

1

2.6

24.2

43.4

0.4

3.6

176.7

0.0

70.7

1016.6

12.5

4.9

43

44

1

2.5

20.0

48.8

1.5

2.9

202.0

0.0

152.6

729.3

28.7

14.1

44

45

1

1.9

24.4

41.5

1.1

4.2

132.7

0.0

76.7

1129.9

16.1

10.7

45

46

1

3.4

32.3

59.5

2.7

2.1

356.1

0.1

150.4

588.7

34.7

31.0

46

47

1

2.8

14.3

51.8

2.2

2.0

109.9

0.0

85.2

505.3

19.6

22.6

47

48

1

2.6

17.4

51.6

1.6

3.3

130.4

0.0

110.3

883.3

25.1

17.3

48

49

1

3.4

23.9

45.3

0.8

2.4

186.7

0.0

65.7

698.2

15.8

8.2

49

50

1

4.9

21.6

59.9

1.7

1.5

231.2

0.1

72.2

381.2

27.8

14.2

50

51

1

2.3

11.3

45.1

1.6

2.4

126.9

0.0

130.3

591.7

32.3

14.5

51

52

1

40.7

145.7

40.8

3.2

1.7

934.2

1.6

25.1

1332.9

23.3

71.4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Wildcat Resources Ltd. published this content on 12 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2022 22:40:08 UTC.


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Sales 2021 - - -
Net income 2021 -0,92 M -0,67 M -0,67 M
Net cash 2021 2,94 M 2,12 M 2,12 M
P/E ratio 2021 -13,0x
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Managers and Directors
Sam Ekins Chief Executive Officer
Jeff Elliott Non-Executive Chairman
Thomas Clement Bahen Director
Aidan Platel Non-Executive director
Alexander Robert Harry Hewlett Non-Executive Director