Key findings from Mt Edon drilling program

Morella Corporation (ASX:1MC) has announced significant findings from its 2024 drilling program at the Mt Edon Project in Western Australia. The program has revealed notable rubidium and lithium mineralization, with assay results showing up to 0.59% Rb2O and 0.63% Li2O. This discovery highlights the presence of mineralized pegmatites in 15 out of 17 drill holes, marking a potential new direction for the project.

Strategic outlook and future plans

The recent findings at the Mt Edon Project by Morella Corporation (ASX:1MC) have uncovered significant rubidium and lithium mineralization, which could lead to a new strategic direction for the project. With assay results showing up to 0.59% Rb2O and 0.63% Li2O, the discovery of mineralized pegmatites in most of the drill holes suggests substantial potential for further development. Morella's joint venture with Sayona Mining Limited, where they hold a 51% stake, strengthens the project's prospects. Building on historical exploration from 2002, Morella plans to conduct further exploration through detailed mapping and additional drilling. The critical status of rubidium and its growing market highlight the economic value of this discovery, offering Morella promising future growth opportunities.

Executive insights on Mt Edon findings

The 2024 drill program has compelled a shift in focus for the Mt Edon Project due to the significant rubidium finds. The results are promising for further development, particularly in the newly discovered northeast cluster and the expansion of previously identified mineralized zones.