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Morella Corporation Limited (ASX:1MC)

ALERT: Price-sensitive ASX Announcement for 1MC
Current share price for 1MC : $0.025 -0.003 (-10.71%)+
Announcement
Release
31 Mar 2026 8:25AM
Price at Release
$0.028
Full Release
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Summary
Morella Corporation Limited has completed its RC drilling program at the Mt Edon Rubidium-Lithium Project in Western Australia, part of a joint venture with Elevra. The program drilled 20 holes totaling approximately 1,700 meters, with significant pegmatite intercepts exceeding 30 meters in several holes, indicating a robust and continuous pegmatite system. This supports the potential for a substantial resource estimate, with assay results anticipated shortly. The drilling identified two main pegmatite bodies that remain open for further exploration, setting a solid foundation for future resource modeling.
Key Points
  • Morella Corporation Limited completed an RC drilling program at the Mt Edon Rubidium-Lithium Project.
  • The drilling program included 20 holes drilled for approximately 1,700 meters.
  • Eleven holes intersected pegmatite intervals greater than 30 meters, with a maximum intercept of 84 meters.
  • The program revealed multiple broad pegmatite zones, supporting the continuity of the system.
  • These findings advance the geological understanding and support progression toward a maiden Mineral Resource Estimate.
  • Assay results are expected in the coming weeks.
  • The consistency of intercept thickness suggests potential for meaningful tonnage within the Sophie pegmatite system.
  • Two principal pegmatite bodies were identified, remaining open along strike and at depth.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.