Morella Corporation Confirms Broad Rubidium Mineralisation at Mt Edon

Morella Corporation Drills Broad Rubidium Mineralisation at Mt Edon, Maiden Resource Estimate on the Horizon

Morella Corporation Limited (ASX: 1MC) has released the first assay results from its recently completed Reverse Circulation (RC) drill program at the Mt Edon Project in Western Australia, delivering a strong set of results that confirm broad, continuous rubidium mineralisation across all pegmatites tested. The Morella Corporation Mt Edon rubidium drill results are being incorporated into the company's maiden JORC Mineral Resource Estimate, a milestone that would formally quantify the scale of what management believes is a significant rubidium project.

Key headline numbers from the program include intercepts of 54m @ 0.17% Rb₂O and 40m @ 0.23% Rb₂O, with high-grade assays spiking to 0.51% Rb₂O. Lithium credits also add to the project's appeal, with the best intercept returning 54m @ 0.10% Li₂O.

Managing Director James Brown said: "These initial results continue to demonstrate the scale and continuity of rubidium mineralisation at Mt Edon and further strengthen our confidence in the Sophie Prospect as we progress toward the maiden Mineral Resource Estimate. Pleasingly, all pegmatites tested to date have returned broad zones of rubidium mineralisation, supporting our geological interpretation and providing increased confidence in the continuity and extent of the mineralised system."

The Sophie Prospect: Broad Zones of Consistent Mineralisation

The current drill program, executed in February 2026, consisted of 20 RC holes totalling 1,863 metres, targeting both known mineralisation at the Sophie Prospect and new exploration targets within the Mt Edon Project area. The program was designed as a follow-on to the 2024 drilling campaign that first revealed rubidium discoveries at the site.

A standout characteristic of these Morella Corporation Mt Edon rubidium drill results is consistency — every pegmatite interval submitted for assay returned significant rubidium mineralisation. This uniformity is a strong indicator of a coherent, laterally continuous mineralised system rather than isolated pockets, which is critical for the resource estimation process now underway.

Drill Intercept Highlights

The table below summarises the headline intercepts from the program using a 0.05% Rb₂O cut-off grade:

Note: Intercept lengths represent downhole lengths; true widths are not yet known.

It is worth noting that these are only the first assay results from the current program. Additional results are expected during June 2026, and Morella anticipates these will further strengthen the dataset ahead of the maiden resource calculation.

Understanding the Geology: What Makes a Rubidium Pegmatite?

For investors less familiar with the geology, the following section provides a brief explainer on what these results actually represent and why they matter.

What Is a Pegmatite?

A pegmatite is a coarse-grained igneous rock that forms during the final stages of magma crystallisation. In lithium-caesium-tantalum (LCT) type pegmatites — the variety found at Mt Edon — highly fractionated melts concentrate rare elements including lithium, rubidium, caesium, and tantalum into economically interesting grades and widths.

Why Do Intercept Widths Matter?

In resource estimation, wide intersections at consistent grades translate to geological continuity — meaning the mineralisation is spread broadly through the rock rather than concentrated in thin, erratic veins. Intercepts of 39m to 54m, all returning grades above 0.15% Rb₂O, indicate a mineralised system with the kind of geometry that resource geologists can model confidently.

What Is Rb₂O and Why Is It Reported This Way?

Rubidium content in minerals is typically reported as Rb₂O (rubidium oxide equivalent), the standard convention for alkali metal reporting. It is analogous to how lithium content is reported as Li₂O. This allows for consistent comparison across projects and feeds directly into resource calculations.

Glossary of Key Terms

The Rubidium Opportunity: A Critical Mineral With a Constrained Global Supply

Rubidium is classified as a Critical Mineral by both the United States and the European Union. Its applications are concentrated in high-value, technologically advanced sectors:

• Specialty glass formulations
• Advanced electronics
• Atomic clocks (essential for GPS and telecommunications infrastructure)
• Fibre-optic communications systems
• Medical imaging technologies

What makes rubidium strategically interesting is the nature of its supply. Global rubidium production is exceptionally limited — most material is produced as a by-product from small lepidolite or pollucite operations, and production is concentrated in only a handful of jurisdictions.

Furthermore, the market is described as thin, opaque, and highly constrained, meaning new, dedicated sources of supply carry strategic relevance for buyers in critical technology supply chains. Mt Edon's microcline-hosted rubidium mineralisation positions Morella — through the Morella-Elevra JV — as a potential contributor to this constrained supply landscape.

What Comes Next: A Clear Pathway to Resource Definition

With the first assay results now in hand and additional results expected through June, Morella has outlined a structured set of near-term activities to advance Mt Edon toward resource definition and beyond.

The metallurgical testwork collaboration with Edith Cowan University is a notable element of the forward programme, focused on extraction pathways and optimisation of both rubidium and lithium recovery. This work will be important in assessing the broader development economics of the project as it matures.

The Investment Case: Why Mt Edon Deserves Attention

Several factors combine to make the Morella Corporation Mt Edon rubidium drill results noteworthy for investors evaluating Morella Corporation.

1. Consistent Mineralisation Across All Holes Tested

Not a single pegmatite interval submitted for assay has failed to return significant rubidium mineralisation. This consistency de-risks the geological model and supports the continuity assumptions needed for resource estimation.

2. Broad Intercepts With Meaningful Grades

Widths of 25m to 54m across multiple holes, at grades consistently above 0.15% Rb₂O, reflect a mineralised system with the kind of geometry that can support a substantive maiden resource.

3. Lithium Credits Add Optionality

The best intercept in the program returned 54m @ 0.10% Li₂O alongside the rubidium grade. Lithium credits improve the potential project economics and align with Morella's broader portfolio focus on battery and critical materials.

4. More Results Still to Come

Only a portion of the full drill program's assay results have been released. With additional results expected during June, the dataset underpinning the maiden resource estimate will only grow more comprehensive. In addition, this expanded dataset strengthens confidence in the geological model before formal resource declaration.

5. Maiden JORC Resource Now in Progress

The transition from exploration results to a formal JORC Mineral Resource Estimate represents a material de-risking event for any early-stage project. Once published, it provides a quantified foundation for economic studies, partnership discussions, and further development planning.

6. Critical Mineral Classification Adds Strategic Context

Rubidium's classification as a Critical Mineral by the US and EU reflects the broader recognition of supply constraints in materials underpinning advanced technology sectors. Morella's focus on rubidium as a primary target — rather than a by-product — is a differentiated position relative to most current producers.

Why Investors Should Keep Watching Morella Corporation

Morella Corporation is an exploration and resource development company focused on critical minerals across Tier 1 jurisdictions in Australia and the United States. Its active portfolio spans lithium, rubidium, and titanium — materials aligned with clean energy transition and high-value industrial demand.

The Morella Corporation Mt Edon rubidium drill results represent a company building real geological momentum. The combination of broad, consistent drill intercepts, a clear near-term resource catalyst, active metallurgical development, and exposure to a critically classified mineral with extremely limited global supply creates a compelling story for investors following the critical minerals space.

With the maiden JORC Mineral Resource Estimate now in active preparation and additional assay results due in June 2026, the next several months represent a meaningful window of upcoming catalysts for the company.

"Morella Corporation has delivered broad, consistent rubidium mineralisation across all pegmatites tested at Mt Edon, with a maiden JORC Mineral Resource Estimate now in progress. With additional assay results expected in June and ongoing metallurgical development underway, the company is approaching a series of near-term milestones that will formally quantify the scale of what is shaping up as a significant rubidium project in Western Australia."

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