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An announcement from Elevra Lithium ( (AU:ELV) ) is now available.
Morella Corporation has completed a reverse circulation drilling program at the Mt Edon Rubidium-Lithium Project in Western Australia, drilling 20 holes for about 1,700 metres under its joint venture with Elevra. Geological logging from the Sophie prospect shows widespread, thick pegmatite development, with 11 holes intersecting pegmatite intervals greater than 30 metres and one hole ending in pegmatite, indicating the system remains open at depth.
Key intercepts include pegmatite zones of up to 84 metres, with several other holes returning intervals between roughly 40 and 70 metres, suggesting a continuous and laterally extensive pegmatite corridor. These results materially enhance geological understanding of the project, support the potential for meaningful tonnage, and mark a significant step toward a maiden mineral resource estimate at Mt Edon, with assays now awaited to quantify the grade profile and resource potential.
The most recent analyst rating on (AU:ELV) stock is a Hold with a A$8.00 price target. To see the full list of analyst forecasts on Elevra Lithium stock, see the AU:ELV Stock Forecast page.
More about Elevra Lithium
Morella Corporation, listed on the ASX as 1MC, is an Australian resources company focused on battery minerals exploration. Through a joint venture with Elevra, the company is advancing the Mt Edon Rubidium-Lithium Project in Western Australia, targeting pegmatite-hosted rubidium and lithium mineralisation to support future mineral resource definition and potential development.
YTD Price Performance: -0.50%
Average Trading Volume: 1,452,068
Technical Sentiment Signal: Buy
Current Market Cap: A$1.34B
Find detailed analytics on ELV stock on TipRanks’ Stock Analysis page.