Miner and explorer Morella (ASX:1MC) said soil sampling from the West Wodgina project in Western Australia identified five targets with assays of up to 225 parts per million of lithium, according to a Monday filing with the Australian bourse.
Future work involves designing and executing a maiden drilling program to investigate the geochemical anomalies using mapped outcrops, the filing said.
The project is part of a joint venture with lithium producer Sayona Mining (ASX:SYA), according to the filing.
Morella shares rose nearly 4% in morning trade Monday, while Sayona Mining shares were up almost 3%.
Price (AUD): $0.03, Change: $+0.001, Percent Change: +3.45%
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