Wildcat Resources' (ASX:WC8) Bolt Cutter project in Western Australia has the potential to host mineralization in the order of around 15 million tonnes to 20 million tonnes at around 1% grade of lithium oxide, and it could be a potential satellite operation to the flagship Tabba Tabba project, Euroz Hartleys said in a Monday note.

Drilling has given further confidence in the continuity of the mineralization, particularly the near-surface areas within the Harry pegmatite within the Bolt Cutter.

A Bolt Cutter maiden mineral resource estimate is expected to be announced in the December quarter, which means it will not be included in the upcoming definitive feasibility study, which is due in the second half.

Metallurgical drilling at the Tabba Tabba project in Western Australia also demonstrated consistency across the system, de-risking variability ahead of the definitive feasibility study.

Lithium could be a key beneficiary from current geopolitics, which has highlighted the attractiveness of electric vehicle and battery energy storage system technology, which before the war was seeing demand growth.

The investment firm retained its speculative buy rating on Wildcat and a AU$1.21 per share price target.