Vancouver, Canada – Leading Edge Materials Corp. (“Leading Edge Materials”) or (the Company”) (TSXV:LEM) (OTCQB: LEMIF) is pleased to announce the submittal of application documents to Swedish authorities to undertake drilling at the Company’s 100% owned Bergby lithium project.
Bergby lies in central Sweden, 25km north of the town of Gävle, and is 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 village of Norrsundet lies 5km east of the Bergby project, a deep-water port where until recently a major wood chip and pulp mill operated.
The proposed drilling will be the first program ever undertaken at the Bergby site, and is anticipated to be completed during the first half of 2017. Permission has been requested to drill up to 40 diamond holes, comprised of a combination of short holes to prospect beneath glacial soil cover and deeper holes to test the extent of the lithium mineralized pegmatite.
As previously reported (see press releases dated 19th Oct 2016 and 1st December 2016), Leading Edge Materials has discovered both an extensive boulder field and located outcrops with high grade lithium mineralization at Bergby. Fifteen samples taken from three outcrop areas returned Li2O (lithium oxide) averaging 1.71% and ranging from 0.01% to 4.65%; and Ta2O5 (tantalum pentoxide) averaging 133 ppm and ranging from 16 ppm to 803 ppm (see Table 1). Samples included representative chip samples, composite samples and selective grab samples depending on outcrop quality, and were taken from three sites across an area of approximately 350m x 750m.
Blair Way, President and CEO, stated “The Bergby lithium project was a new discovery by Leading Edge Materials geologists in mid-2016, and we have moved quickly to be in a position to drill within less than 12 months. With high grade lithium mineralization in both boulders and outcrop over a broad area, we are looking forward to the flow of drilling results. The Company continues to seek quality assets that align with our strategy to become a leading supplier of battery materials. With a fully permitted graphite mine, and both lithium and cobalt properties, our expanding asset base will allow Leading Edge Materials to play a pivotal role in the rapidly growing lithium ion battery market.”
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 analyzed by the ME-MS81 and Li-OG63 technique by ALS Chemex Ltd’s laboratories in Pitea, Sweden and 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, a Fellow of the Australasian Institute of Mining and Metallurgy has reviewed and verified the contents of this release.
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. Certain information in this news release may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, “Forward-Looking Statements”). All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are Forward-Looking Statements. Forward-Looking Statements are often, but not always, identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” and “intend” and statements that an event or result “may,” “will,” “can,” “should,” “could,” or “might” occur or be achieved and other similar expressions. Forward-Looking Statements are based upon the opinions and expectations of the Company based on information currently available to the Company. Forward-Looking Statements are subject to a number of factors, risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the Forward-Looking Statements including, among other things, timing of the ground magnetic survey and shallow soil sampling program, timing of a diamond drill program at Bergby, the Company has yet to generate a profit from its activities; there can be no guarantee that the estimates of quantities or qualities of minerals disclosed in the Company’s public record will be economically recoverable; uncertainties relating to the availability and costs of financing needed in the future; competition with other companies within the mining industry; the success of the Company is largely dependent upon the performance of its directors and officers and the Company’s ability to attract and train key personnel; changes in world metal markets and equity markets beyond the Company’s control; mineral resources are, in the large part, estimates and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized; production rates and capital and other costs may vary significantly from estimates; changes in corporate goals and strategies, unexpected geological conditions; and delays in obtaining or failure to obtain necessary permits and approvals from government authorities. Although the Company believes that the expectations reflected in the Forward-Looking Statements, and the assumptions on which such Forward-Looking Statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on Forward-Looking Statements, as there can be no assurance that the plans, intentions or expectations upon which the Forward-Looking Statements are based will occur. Forward-Looking Statements herein are made as at the date hereof, and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these Forward-Looking Statements.
Table 1: Analytical values for 15 outcrop samples from Bergby project, Sweden, as reported 1st December 2016
|Li2O (lithium oxide)||Average||1.71||%|
|Ta2O5 (tantalum pentoxide)||Average||133||ppm|