WhiteRock Lithium (ASX:WLC) made its ASX debut yesterday after raising $6M at $3.25 per share, and saw its shares sky rocket almost 50% to $4.70 in its first 24 hours on the board.
The listing brings its Banana Lithium Project in Québec onto the public market with drilling already underway.
Banana already has scale on paper
WhiteRock is not starting from zero.
Banana carries an exploration target of 190Mt to 275Mt at 1.2% to 1.6% Li₂O, although that remains conceptual and is not yet a Mineral Resource.
The project covers around 67,245ha and includes the Spodumene Mountain and Isabella prospects.
Figure 1: WhiteRock’s Banana Lithium Project.
The rigs are already doing the talking
The 2026 program runs through to October with up to four rigs and as many as 80 diamond holes planned.
Most of that drilling is focused on Spodumene Mountain, where WhiteRock is infilling and stepping out the known pegmatite system.
Previous drilling hit LCT pegmatite in all 29 holes from the 2024 campaign, with multiple 2–3% Li₂O intervals reported from near surface.
What’s next
First assays from the current campaign are expected from mid-September, with a maiden MRE targeted around Q2 2027, subject to results.
The IPO got WhiteRock onto the board, the next job is proving Banana deserves the valuation.
