Topdrill RC rig setup. Source: Morella Corp
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Morella Corporation (1MC) kicks off drilling at its Mallina lithium project in Western Australia
  • The program aims to better understand the “Pegmatite 2” target area
  • Pegmatite 2 is just one of multiple pegmatite swarms that hold strong potential for additional mineralisation
  • Results from the program are expected in Q4 2023
  • 1MC shares last traded at 0.7 cents

Morella Corporation (1MC) has commenced drilling at its Mallina lithium project in the Pilbara, Western Australia.

The company has enlisted the services of Topdrill to conduct reverse circulation (RC) drilling.

The primary objective of this drilling campaign is to gain a deeper understanding of the width and depth of the “Pegmatite 2” target area.

Initial findings suggest that the pegmatite may have a true thickness of up to 20 metres.

Pegmatite 2 is also just one of multiple pegmatite swarms with significant potential for additional mineralisation.

The drilling program itself will encompass 66 RC holes spanning approximately 3800 metres, with the aim of completing the program by September’s end.

On July 7, 2023, the Department of Mines, Industry Regulation and Safety (DMIRS) officially granted approval for Morella Corporation’s program of works, which involves the use of ground-disturbing equipment.

Morella expects assay results to be available in the fourth quarter of 2023.

1MC shares last traded at 0.7 cents.

1mc by the numbers
More From The Market Online

Eclipse Metals preparing for key MRE drilling program at Gronnedal in Greenland

Eclipse Metals is set to commence a diamond drilling program aimed at upgrading the Grønnedal rare…

Azzuro Resources secures strategic Chinese investment to unlock Red Hill copper in Mongolia

Azzuro Resources has entered into a subscription agreement with Kerry Resources Logistics (Hong Kong) to raise…
The words "ASX Market Open" appear alongside a Bear ( FALL ) with a market chart graphic floating above it. The whole image is faded yellow and orange.

ASX Today: Chip sell-off overnight rattles ASX investors; US futures flat ahead of US CPI

The ASX200 has spent much of the day trading down around six tenths of a percent after the KOSPI sold off on Tuesday

Industry says government has missed the boat with proposed domestic gas reservation scheme

Australia's petroleum industry has hit out at the release of the Federal government's proposed domestic reservation…