Wildcat Resources' (ASX:WC8) Bolt Cutter Central lithium discovery in Western Australia has the potential to be a satellite operation to the company's flagship Tabba Tabba project, Euroz Hartleys said in a Tuesday note.

The company recently reported further positive results from the discovery, extending the interpreted footprint to more than 2.3 kilometers to the northwest and up to 800 meters to the northeast following exploration drilling.

Results include 9.4 meters at 1.3% lithium oxide from 23 meters, 8.1 meters at 1.2% lithium oxide from nearly 40 meters, and 7.6 meters at 1.4% lithium oxide from 32 meters.

The extension confirms lateral continuity of mineralization, indicating the potential for a significant discovery near Tabba Tabba, the financial services firm said.

Near-term focus is on assay results, metallurgical outcomes, and step-out drilling for continuity and grade distribution confirmation, alongside advancing environmental studies and mining lease applications as preliminary steps for development.

Euroz Hartleys reaffirmed its speculative buy recommendation and AU$0.61 price target on Wildcat Resources.

Wildcat Resources shares rose 4% in midday trade on Wednesday.