Vancouver, Canada – Leading Edge Materials Corp. (“Leading Edge Materials”) or (the “Company”) (TSXV:LEM) (OTCQB: LEMIF) is pleased to announce the discovery of additional lithium mineralized boulders at the Company’s 100% owned Bergby project, and the staking of additional permits over this prospective ground.
The Bergby project lies in central Sweden, 25km north of the town of Gavle, and with two additional exploration permits, the claim area now totals 1903 Ha. The site is close to infrastructure, with major roads, rail and power supply passing immediately adjacent to the claim boundaries.
Further mapping and sampling at Bergby has located many new large angular lithium mineralized boulders of pegmatite and aplite. Analytical results for an additional 14 boulder samples have been received, where Li2O (lithium oxide) averaged 1.48% and ranged from 0.22 to 4.56%; and Ta2O5 (tantalum pentoxide) averaged 170 ppm and ranged from 1 ppm to 414 ppm.
A total of 41 boulders have now been sampled from the Bergby boulder field, with results provided in Table 1. The results to date are highly encouraging for a newly discovered prospect, with numerous high grade boulders located. A clear boulder field in excess of 600m long and up to 200m wide is now well defined. The boulders are anomalous in other elements which characterize lithium-cesium-tantalum (LCT) pegmatites that are regularly associated with economic hard rock lithium deposits.
Work is now underway to locate additional boulders or outcrop, and prepare for ground magnetic surveying to better define a bedrock drill target.
Blair Way, President and CEO, stated: “The presence of so many lithium mineralized boulders, including some with very high grades, is an encouraging sign for the Bergby prospect. We will now move quickly to acquire additional data and define potential drill targets.”
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.
On behalf of the Board,
Blair Way, President & CEO
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. Samples submitted by Leading Edge Materials Corp were prepared and analyzed by the ME-MS81 and Li-OG63 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 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 drill programs 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 first 41 boulder samples from Bergby project, Sweden (news releases dated October 19, 2016 and November 4, 2016)
|Li2O (lithium oxide)||Average||1.06||%|
|Ta2O5 (tantalum pentoxide)||Average||168||ppm|