1MC - Morella Corporation

[frugal.rock]

Moving along... ?

3 October 2022
Geophysics Exploration underway at North Big Smoky

Controlled-source Audio-frequency Magnetotellurics (CSAMT) has commenced at North Big Smoky (NBS)

Geophysics to build on recent soil sampling program

CSAMT work ahead of schedule

Overview
Morella Corporation Limited (ASX: 1MC “Morella” or “the Company”) is pleased to advise that exploration activities at North Big Smoky are progressing with the view to fast tracking the understanding of the deposit.
Following the soil sampling completed in September (refer to ASX Announcement First on-ground exploration works completed at North Big Smoky released 20 September 2022) Morella has engaged a geophysics expert to carry out a single CSAMT line at NBS. This was scheduled for November but has been accelerated and will now be completed in October.

CSAMT
The single CSAMT line will allow Morella to better understand the areas of higher conductivity and be able to develop a cross sectional understanding through the deposit that is aligned with the one of the soil sample lines (See Figure1).
CSAMT provides good near surface resolution and depending on local ground conductivity can also be
effective in the 500m-1,000m depth of investigation.
The combination of soil samples and the CSAMT results will guide the company in the definition of the next phase of exploration.
Morella MD James Brown said:
“Building on the initial exploration methods and results at Fish Lake Valley we are progressing the exploration of North Big Smoky as a priority. North Big Smoky is a strategic asset of Morella and its proximity to the companies Fish Lake Valley project provides an exciting opportunity to develop a regional hub. By developing the two deposits together we can maximise the use of our resources and contractors when available while reducing costs.”

“Our partners at Lithium Corporation have been extremely helpful and we have formed a strong partnership which has supported our rapid evaluation programs in Nevada, we look forward to the next phases.”

 

[frugal.rock]

ASX Announcement
25 October 2022

Direct Lithium Extraction Study confirms highly efficient lithium concentrating process
Ion exchange Media proves to be highly efficient for lithium extraction from brine contained within Fish Lake Valley
Lithium concentrations increased over 600% in a two-hour processing cycle with an extraction efficiency up to 95%.
Positive results support the study’s extension and planning for pilot-scale development

Drill program at Fish Lake Valley expected in Late Q4 2022

Overview
Morella Corporation Limited (ASX: 1MC “Morella” or “the Company”) is pleased to provide an update on the Direct Lithium Extraction (DLE) study being completed by Recion Technologies (“Recion”) at
Recion’s laboratory in Edmonton, Canada. (Refer ASX Announcement Direct Lithium Extraction Testwork
Begins released 14 June 2022)

The study is aimed at providing a preliminary assessment of lithium
extraction and underlying economics using Recion’s technology solution and Fish Lake Valley (FLV) brine.
An interim progress report from Recion has provided positive early-stage indications of successful lithium concentration using Recion’s ion exchange media (Media) process and FLV brine.
The brine sample was obtained from near surface of the playa at FLV and was expected to be highly diluted from surface water, however the testing process focussed on lithium extraction from the brine type or signature of the brine. As part of the next phase of DLE testing Morella will provide brine samples from reservoirs identified in the Passive Seismic and MT surveys completed earlier in 2022. (Refer ASX
announcement Geophysical Exploration Update for Fish Lake Valley Lithium Project released on 22 February 2022)

The report has identified that two hours of absorption is sufficient to extract lithium from the brine with extraction efficiency up to 95% using an absorption column configuration. Absorption column configuration has been used in water treatment operations and is known to be scalable using standard/commercially available equipment.
Extended testing saw high lithium recoveries, resulting in lithium concentration levels over 600%.

 

[jackish]

August it went from .013 to .026 in 8 days today it's sitting at .017 0.018 do you say this is it for 2022???

 

[craigj]

sudden drop on chart in past month '- looks oversold possible short term rebound

 

[jackish]

I say buy in the dip as they have diluted more shares
Nth big smokey....
.012 last close should recover soon

 

[craigj]

has turned into a trading stock possible buy at these levels 1.4c

 

[jackish]

I notice there has not been any threads about this stock on ASF in the past, which surprises me given the amount of good news that has been coming out of this company over the past 12 months.

If there are any watchers of AJM in this forum, what are your thoughts on the latest round of sensational lithium results that have been reported by the company? Are you as surprised as i am to not see the company trading at 40 cents?

When is it going to match PLS asx. I completely agree with you so much good news and only peaking at .039 Let's hope that China reopening it's doors will push it along. I wonder where we will be by end financial new year......

 

[craigj]

purely a trading stock at present until drilling starts
maybe a bounce off these levels

 

[frugal.rock]

Have added a bit to the holding so average in now at $0.0088
Chart looking very ordinary, but hopefully drilling and assays produce the goods.
Otherwise, eeek.

25 May 2023
Mallina drilling intercepts 23 metres of pegmatite, hosting visual spodumene.

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

Next blurb from the last quarterly in relation to the above Mallina prospect;

Commenting on the upcoming drill program, Morella Managing Director, James Brown said:

“Our team has completed a thorough planning process and are looking positively toward the next drill program at Mallina. Having the benefit of several high-grade intercepts from previous programs, we are confident that proof of substantial lateral extensions can be delivered.
The Company is also buoyed by the fact we are nearing completion of finalising the joint venture with our partners Sayona Mining Limited (ASX:SYA), who we have enjoyed a close relationship in the past and look forward to the future with Sayona, as it becomes the next global producer of lithium concentrates.”

 

[frugal.rock]

Still watching for a turn around, which may have started.
Chrissy rally?. Will need cash soon though.