Overview of Morella Corporation's activities in March Quarter 2024

Morella Corporation Limited (ASX: $1MC) has reported on its activities during the March Quarter 2024, including the commencement of a RC drilling program at the Tabba Tabba East lithium project. The company also outlined plans for further campaigns at its Mallina and Mt Edon lithium projects in Western Australia, as well as the impressive results from the 2D seismic reflection survey at the Fish Lake Valley project in Nevada, USA.

Executive Commentary on March Quarter 2024 Activities

During the March Quarter, Morella Corporation invested significant resources into reviewing the data from previous exploration and planning new works for the rest of 2024. The company continues to build its understanding of the Fish Lake Valley lithium brine target and has identified high priority lithium brine targets for drill testing. Additionally, the completion of a drillhole in the northern area at Fish Lake Valley marks a pivotal milestone, indicating strong potential for lithium brines to accumulate in the central and southern part of the basin. The company is also keenly reviewing the Tabba Tabba data, which has led to the decision to undertake a drill program in the June Quarter. Permitting and stakeholder consultation for this program are already underway.

Summary of March Quarter 2024 Activities and Outlook

Morella Corporation's activities in the March Quarter 2024 focused on advancing its exploration and evaluation activities at various projects. The company's plans include commencing a RC drilling program at the Tabba Tabba East lithium project, further campaigns at the Mallina and Mt Edon lithium projects, and the completion of a 2D seismic reflection survey at the Fish Lake Valley project. The company's Managing Director, James Brown, highlighted the significant progress made in understanding the lithium brine targets and the potential for lithium brines to accumulate in key areas. Looking ahead, Morella aims to continue its exploration efforts, progress permitting for upcoming drilling programs, and finalize the Joint Venture Agreement with Sayona Mining Limited. The company remains focused on securing and developing lithium raw materials to support the increasing demand for battery minerals, aligning with the global transition to green energy.