It can happen. I shot a Bobcat once with a 30-30 and it ran almost 75 yards with its lungs gone. The instinct to survive is amazing.
We get bobcats occasionally in our yard. PA bobcats, they're not that big but I've never hunted them.
It was an experience with this deer. We'd track it for an hour, there was snow and we'd follow the drip until it got thin then there was a huge pool of blood, probably from where it got down until we caught up to it.