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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
2 Jun 2026 8:18AM
Price at Release
$0.028
Full Release
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Summary
Morella Corporation Limited announced the first set of results from their recent Reverse Circulation (RC) drilling program at the Mt Edon Project in Western Australia. The results showed significant broad rubidium mineralisation across all tested pegmatites, with high-grade assays returning up to 0.51% Rb2O and 0.25% Li2O. The drilling confirmed the continuity and extent of mineralisation within the Sophie pegmatite and enhanced the company's understanding of the geometry and distribution of these mineralisations. With the maiden JORC Mineral Resource Estimate underway, this project positions Morella to participate in the emerging critical minerals sector. Further drilling and metallurgical test work are planned to advance the project and evaluate potential downstream opportunities.
Key Points
  • Broad rubidium mineralisation confirmed at Mt Edon.
  • High-grade assays returned up to 0.51% Rb2O.
  • Drilling aims to define a maiden JORC Mineral Resource Estimate.
  • Further drilling and assay results expected to strengthen the dataset.
  • Ongoing metallurgical test work in collaboration with Edith Cowan University.
  • Potential for substantial development in the critical minerals sector.
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.