Vancouver, Canada – Leading Edge Materials Corp. (“Leading Edge Materials”) or (“the Company”) (TSXV:LEM) (OTCQB: LEM) is pleased to announce the discovery of the Company’s first lithium project, Bergby, located in central Sweden, 25km north of the town of Gävle.
Mapping and sampling of the Bergby claim has located a large number of angular pegmatitic and aplitic lithium-mineralized boulders within an area of 650 metres by 250 metres. Lithium is hosted within the minerals spodumene and petalite. Analytical results for the first 27 boulder samples have been received, and average 0.85% Li2O (lithium oxide) and range from 0.08% Li2O to 2.3% Li2O. The boulders are anomalous in other elements which characterize lithium-cesium-tantalum (LCT) pegmatites that are regularly associated with lithium deposits (table 1).
Blair Way, President and CEO, stated “We have been actively searching for lithium projects for some time, and are very pleased to have discovered a prospect with the potential of Bergby very close to our Woxna graphite mine. This projects sits well within our strategy of acquiring low holding cost assets while we advance our graphite business model to supply the lithium Ion battery market. The lithium grades of the boulders and the scale of the project areas discovered to date demonstrate the prospectivity of the project. We look forward to following up with ground geophysics and geochemical sampling, with the aim to diamond drill test Bergby this winter”.
The Bergby project was discovered by Leading Edge Materials’ geological team utilizing geological data maintained by the Swedish Geological Survey (“SGU”). The SGU holds a very extensive database of mineralized boulders previously discovered across Sweden, including many that have never had significant follow-up. Leading Edge Materials’ geologists identified lithium prospective boulders within this dataset, and subsequent field prospecting discovered the presence of an extensive lithium (Li) and tantalum (Ta) mineralized boulder field at Bergby. Bergby is located close to infrastructure, with major roads, rail and power supply passing immediately adjacent to the claim boundaries.
Follow-up work at Bergby includes further prospecting of areas along 700 metre trend from the initial discovery. Specifically, the company plans to undertake a ground magnetic survey and shallow soil sampling to cover the most prospective area of the claims, with the eventual aim to be able diamond drill test Bergby this winter. Additional geochemical results will be released as they come to hand.
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. Europe is investing heavily in these emerging battery technologies, as part of the transition to a low-carbon economy.
Lithium was discovered in Sweden in 1817 by Swedish chemist Johan August Arfwedson, and named from the Greek word lithos, describing the rock from which it was extracted. Furthermore, the lithium minerals spodumene and petalite which are the ore-minerals in most hard rock lithium mines globally, were both first discovered and named in Sweden.
|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.
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Certain statements found in this release may constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “Forward Looking Statements”). Forward-looking statements reflect the speaker’s current views with respect to future events and financial performance and include any statement that does not directly relate to a current or historical fact. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, uncertainties related to the availability and costs of financing, changes in corporate goals, unexpected expenditures, the ability of LEM to identify and close suitable acquisitions, unexpected geological conditions, success of future development initiatives, imprecision in mineral resource estimates, ability to obtain necessary permits and approvals, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, changes in world metal markets, changes in equity markets, environmental and safety risks, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Forward-looking statements cannot be guaranteed and actual results may vary materially due to the uncertainties and risks, known and unknown, associated with such statements. Shareholders and other readers should not place undue reliance on “forward-looking statements,” as such statements speak only as of the date of this release.
Table 1: Analytical values for first 27 boulder samples from Bergby project, Sweden.
|Li2O (lithium oxide)||Average||0.85||%|
|Ta2O5 (tantalum pentoxide)||Average||154||ppm|