Morella Corp Ltd (ALTAF)

[TradingCharts]

Mallina drilling intercepts 23 metres of pegmatite, hosting
24 MAY 2023

Highlights

Drill program successfully completed – assays expected in 4 weeks
Total of 35 holes completed for 2,200 metres of total drilled depth
Six (6) drillholes intercepted pegmatites hosting spodumene >10 metres width three (3) holes
had intercepts >20 metres including hole MRC070 with 23 metres from 21 metres depth
Pegmatites intersected in 18 of the 35 holes drilled
Planning for the next phase of drilling is underway to infill and test extensions
Overview
Morella Corporation Limited (ASX: 1MC “Morella” or “the Company”) is pleased to advise an interim
update from its recently completed RC (reverse circulation) drilling program at Morella’s 51% owned
Mallina Project, located in the Pilbara region of Western Australia. The program was designed to
identify the strike lengths and thickness of previous exploration (refer to ASX Release 7 December
2022) to set a foundation for a more rigorous resource definition program. The Company has
despatched all pegmatite samples for assay and expects to receive the results prior to 30 June 2023.
Significant pegmatite drillhole intercepts (>10 metres) are detailed below:
o MRC057 22m pegmatite intercept from 48m.
o MRC067 10m pegmatite intercept from 68m.
o MRC070 23m pegmatite intercept from 21m.
o MRC072 15m pegmatite intercept from 5m.
o MRC073 21m pegmatite intercept from 28m; and 17m pegmatite intercept from 56m.
Morella Managing Director James Brown said:
“The completion of this drill program at Mallina has confirmed the Projects potential to deliver a
significant hard rock lithium discovery. These exciting results provide the basis to accelerate
commencement of a follow up program to provide a strong pathway towards resource definition. This
program has significantly enhanced Mallina’s appeal due to the favourable thickness of the pegmatites,
combined with their relatively shallow depths. The program was incident free, achieved high production
rates for drilling and benefited from the exploration team’s excellent planning.”

https://wcsecure.weblink.com.au/pdf/1MC/02669406.pdf