- Morella Corporation (1MC) confirms lithium mineralisation at the North Big Smoky lithium project in Nevada
- The company identified a large zone of “elevated” lithium grades through a soil sampling program at the NBS deposit which included up to 499 parts per million lithium
- Managing Director James Brown says the results are “extremely encouraging” due to their proximity to the surface
- The company will undertake follow-up seismic surveys to test the depth and extent of the area
- Morella shares are trading steady at 1.5 cents at 11:45 am AEDT
Morella Corporation (1MC) has confirmed lithium mineralisation at the North Big Smoky lithium project in Nevada.
The company identified a zone of “elevated” lithium grades across the central part of the North Big Smoky project area after interpreting data from a soil sampling program completed in September last year.
The program aimed to gain a better understanding of the lithium potential across the NBS deposit and found lithium values of up to 499 parts per million (ppm) with over 40 per cent of the assays grading 200 ppm lithium or above.
Managing Director James Brown said the results are “extremely encouraging” due to their proximity to the surface.
“Continuing on from the encouraging geophysical results last year which identified targets at depth, these current results have shown the presence of elevated lithium content across the NBS project area surface soils,” Mr Brown said.
With these results in mind, Morella will undertake follow-up seismic surveys to test the depth and extent of the area.
Through an earn-in agreement signed with US-based Lithium Corporation in 2022, Morella has the right to earn a 60 per cent interest in the North Big Smoky project and options to acquire a 100 per cent interest.
1MC shares were trading steady at 1.5 cents at 11:45 am AEDT.