Tabba Tabba Lithium Project PFS 50% Complete with $63.6M Cash Backing

Project Progress and Resource Foundation

Wildcat Resources Limited (ASX: WC8) has provided a comprehensive update on the advancement of its Preliminary Feasibility Study (PFS) for the Tabba Tabba Lithium Project, located in Western Australia's Pilbara region. The PFS is now approximately 50% complete, building on the robust Mineral Resource Estimate (MRE) released in November 2024, which reported 74.1 million tonnes at 1.0% Li2O, with 94% classified as indicated resources. This high-confidence resource base underpins the project's development potential and de-risking efforts.

Strategically positioned just 80 kilometres from Port Hedland, the world's largest bulk export port, Tabba Tabba benefits from excellent logistics and infrastructure access, a critical advantage in the competitive lithium market. The project's scale and the thick, tabular nature of its mineralised pegmatites further enhance its attractiveness.

Metallurgical and Mining Advances

Metallurgical testwork has progressed well, with Stage 2 activities approximately 75% complete. This phase focuses on variability samples and scaled-up flotation testwork to refine process plant design parameters. Early results from Stage 1 demonstrated lithium recoveries between 79% and 84%, producing a 5.5% lithium concentrate, which bodes well for the project's processing efficiency.

Mining studies have benefited from a completed geotechnical investigation, revealing favourable rock mass conditions that allow for steep pit slopes of up to 53.8 degrees. This design is expected to reduce waste removal and improve operational efficiency. Mining dilution is anticipated to have minimal impact on head grades due to the considerable thickness of the Leia and Luke pegmatite domains, which constitute the majority of the resource.

Environmental and Infrastructure Foundations

Wildcat has completed a thorough baseline environmental monitoring program covering flora, fauna, hydrology, and terrestrial environmental quality. This foundational work informs a targeted environmental survey program scheduled for 2025, aimed at supporting future mining approvals. The project’s location on a long-established pastoral lease with relatively undisturbed native vegetation further supports a manageable environmental footprint.

Infrastructure-wise, Wildcat has secured a General Purpose Lease for mining-related activities and acquired adjoining exploration licences to enhance infrastructure flexibility. Existing assets such as a 78-person camp and bore field provide a solid base for early works, while additional miscellaneous licence applications aim to support permanent infrastructure development.

Strategic Partnerships and Next Steps

Wildcat has engaged leading industry consultants, including NewPro for process plant engineering and AMC Consultants for mining engineering and geotechnical review, ensuring the PFS benefits from expert input. Scenario analyses on processing throughput rates ranging from 2.2 to 4.5 million tonnes per annum are underway, with both single and staged ramp-up options being evaluated.

The company’s strong cash balance of $63.6 million at the end of 2024 provides financial flexibility to accelerate the Definitive Feasibility Study (DFS) and subsequent development phases. Regional exploration remains active, with new drill targets identified to potentially expand the resource base further.

Wildcat’s General Manager Project Development, James Dornan, highlighted the efficient progress made possible by early groundwork and expressed confidence in further de-risking the project throughout 2025.