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Morella Corporation ( (AU:1MC) ) has issued an update.
Morella Corporation has completed a reverse circulation drilling program at its Mt Edon Rubidium–Lithium Project in Western Australia, drilling 20 holes for about 1,700 meters as part of a joint venture strategy with Elevra. Geological logging at the Sophie prospect shows widespread and thick pegmatite development, including an 84-meter intercept that ended in pegmatite, indicating the system remains open at depth.
Eleven holes reported pegmatite intervals over 30 meters, with average thicknesses of roughly 40 to 45 meters across the main zones, supporting the potential for substantial tonnage. These broad, continuous pegmatite zones, when combined with earlier drilling, reinforce the interpretation of a laterally extensive system and position the project to progress toward a maiden Mineral Resource Estimate once assay results are received in the coming weeks.
The most recent analyst rating on (AU:1MC) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on Morella Corporation stock, see the AU:1MC Stock Forecast page.
More about Morella Corporation
Morella Corporation Limited is an Australian-listed resources company focused on battery minerals, with current exploration centered on rubidium and lithium assets in Western Australia. Through the Morella-Elevra Joint Venture, the company is advancing the Mt Edon Rubidium–Lithium Project as part of its strategy to define mineral resources in the emerging critical minerals sector.
YTD Price Performance: -25.64%
Average Trading Volume: 473,424
Technical Sentiment Signal: Sell
Current Market Cap: A$11.83M
Find detailed analytics on 1MC stock on TipRanks’ Stock Analysis page.