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Stocks of the Hour: Morella Corporation, Pacific Edge, Critical Resources

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Morella Corporation (ASX:1MC) has released results from drilling at the Mallina Project in WA, which is a joint venture between Morella and Sayona Mining (ASX:SYA). The mineralised strike has been extended up to 300m, and new zones of mineralisation have been identified. Morella Managing Director James Brown stated: “The future looks bright for this well-located, highly promising project with a commitment from Morella to accelerate additional drilling campaigns.” Shares are trading 14.29 per cent higher at 0.8 cents.

Pacific Edge (ASX:PEB), a cancer diagnostics company, has been the beneficiary of welcome news. Novitas and First Coast have decided to delay the implementation of a Local Coverage Determination. This determination would have seen US Medicare coverage case for Pacific’s Cxbladder product, which is a urine-based test for bladder cancer. Shares in Pacific Edge are trading 129.89 per cent higher at 20 cents.

Critical Resources (ASX:CRR) has intersected 74.4 metres of spodumene-bearing pegmatite at the company’s Mavis Lake Lithium Project in Canada. Managing Director Alex Cheeseman said, “targeted drilling will continue over the coming months and we are truly excited as to the resource potential of this world class asset.” Shares are trading 38.1 per cent higher at 5.8 cents.
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Source: Finance News Network