Morella Completes Reverse Circulation Drilling at Western Australia Rubidium-Lithium Project; Shares Jump 7%

MT Newswires Live

03/31

Morella (ASX:1MC) completed a reverse circulation drilling program at the Mt Edon rubidium-lithium project in Western Australia, with 20 holes drilled for around 1,700 meters, according to a Tuesday Australian bourse filing.

The drilling was part of Morella's joint venture strategy with Elevra Lithium (ASX:ELV).

Geological logging confirmed widespread pegmatite development across the Sophie prospect, with intercepts including 84 meters of pegmatite from 18 meters as well as 53 meters of pegmatite from three meters. 11 drill holes returned pegmatite intercepts exceeding 30 meters.

Shares of Morella jumped 7% in early trading on Tuesday, while those of Elevra fell 2%.

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