- Morella Corporation (1MC) increases the claim area of its Fish Lake Valley lithium project in the US state of Nevada by about 60 per cent
- During March, Morella commissioned the pegging of 211 contiguous claims, which formed an undisrupted total claim area of about 44.4 square kilometres
- Fish Lake Valley is covered by an earn-in agreement between Morella and Lithium Corporation, whereby Morella can earn a 60 per cent stake in the project, with an option to acquire a 100 per cent interest
- Morella has committed to increasing the passive seismic survey to include the new claim area, with a new magnetotelluric survey now under way
- 1MC last traded at 3.8 cents
Morella Corporation (1MC) has increased the claim area of its Fish Lake Valley lithium project in the US state of Nevada by about 60 per cent.
During March, Morella commissioned the pegging of 211 contiguous claims, which bound the eastern edge of the existing project claims and resulted in an undisrupted total claim area of about 44.4 square kilometres.
Morella holds the right to earn a 60 per cent stake in the project from Lithium Corporation and has an option to acquire a 100 per cent interest.
Morella CEO Alex Cheeseman said the company sees great potential in Fish Lake Valley.
“Our initial geophysical exploration work has been very positive and the ability to extend this work into the recently extended claim area so quickly, gives us further opportunities to seek scale in the project,” he said.
Morella said it was increasing the passive seismic survey to include the new claim area, with a new magnetotelluric survey under way.
Analysis and interpretation of the data was continuing.
1MC shares last traded at 3.8 cents.