Vancouver, Canada – Leading Edge Materials Corp. (“Leading Edge Materials”) or (the “Company”) (TSXV:LEM) (OTCQB: LEMIF) is pleased to announce results from the final six holes drilled at the Company’s 100% owned Bergby lithium project in Sweden. Results were again strongly positive, and include two new near surface intersections that exceed 16m in thickness at greater than 1% Li2O (lithium oxide).
With this final set of drill data from the first drill program completed at Bergby, lithium mineralization is known to extend for more than 600m along strike, and remains open in all directions. Preparations are now underway for an expanded second drill program starting Q3 2017.
A full set of drilling data is provided in Tables 1 and 2, and presented as Figure 1. A cross section of selected drill holes is provided as Figure 2 to show continuity of mineralization.
Blair Way, President and CEO, stated “The first Bergby drilling program comprising only 18 holes has delivered excellent lithium and tantalum results, and Bergby now ranks as a very significant lithium occurrence in the Nordic region. The high hit rate of high grade lithium so near surface over a 600m strike is impressive, and sets us up for an immediate follow up drilling program.
We are now preparing for additional drilling to test the along strike and down dip extension of lithium mineralization. This program will also collect adequate sample for the first round of mineral processing test work. Additional surface work shall also be completed to better understand the prospectivity of the Bergby area.”
Bergby lies in central Sweden, 25km north of the town of Gavle, secured by three exploration licenses that cover a total of 1,903 Ha. The site is close to infrastructure, with major roads, rail and power supply passing immediately adjacent to the claim boundaries. The potential for low cost and rapid development is significantly enhanced by the presence of a deep-water port only 5km from the site.
The true thickness of mineralized intervals is interpreted to be approximately 90% of the sampled thickness.
Europe is playing a leading role in the transition to low-carbon energy generation from renewable sources, and the efficient storage of that energy. Electric mobility (EV’s, HEV, PHEV’s) and stationary electricity storage are dependent on high purity graphite, lithium and cobalt, where Leading Edge Materials is an active European player. Lithium has a strong and expanding market, due to the essential role it plays in lithium-based batteries for the automotive, consumer product and stationary electrify storage industries. The high electrochemical potential of lithium results in the high power to weight ratio that is essential for efficient mobile batteries.
On behalf of the Board,
Blair Way, President & CEO
Samples submitted by Leading Edge Materials Corp were prepared and analyzed by the ME-MS89L technique by ALS Ltd’s laboratories in either Pitea, Sweden, Loughrea, Ireland and/or Vancouver, Canada, where duplicates, repeats, blanks and known standards were inserted according to standard industry practice.
The qualified person for the Company’s exploration projects, Mark Saxon, Director of Leading Edge Materials and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this release.
About Leading Edge Materials:
Leading Edge Materials is a Canadian public company with principal assets in Scandinavia, a region well recognised for its promotion and investment in innovation. The Company’s flagship asset is the Woxna Graphite production facility located in central Sweden targeting the supply of specialty materials for lithium ion battery production. Leading Edge Materials’ core investments are matched to high growth markets, linked to the global shift to low-carbon energy generation and energy storage.
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), accept responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information. This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include but are not limited to, the Company’s expectations regarding drilling at Bergby, the Company’s expectations regarding graphite production at Woxna, the Company’s preliminary economic assessment on Woxna is no longer current or valid as a result of the filing of a new NI 43-101 Technical Report effective March 24, 2015, and the Company has no plans to complete a new preliminary economic assessment, a pre-feasibility or feasibility study on the project, as such there is an increased risk of technical and economic failure for the Woxna graphite project; unexpected geological conditions; exploration activities to advance other critical material projects of the Company for energy storage markets, delays in obtaining or failure to obtain necessary permits and approvals from government authorities. Although such statements are based on management’s reasonable assumptions, there are risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Table 1: Drill collars locations and orientations, Bergby Project. Drilling was conducted with “Wireline 56” equipment proving core with a diameter of 39mm.
|Easting SWEREF||Northing SWEREF||Elevation RH2000||Azimuth||Dip||Length|
Table 2: Mineralized intervals from 18 drill holes, Bergby Project
|Hole Number||FROM (m)||TO (m)||WIDTH (m)||Li2O%||Ta2O5 ppm|
|BBY17018||No significant mineralization|
Figure 1: Location of Drilling and Interpreted Trend of Lithium-Bearing Pegmatite, Bergby Project. Grid presented in SWEREF coordinate system.
Figure 2: A cross section of selected drill holes showing continuity of mineralization