Results Include 8.8m @ 2.63% Lithium Oxide from 1.1m Depth
Vancouver, Canada – Leading Edge Materials Corp. (“Leading Edge Materials”) or (“the Company”) (TSXV:LEM) (OTCQB: LEMIF) is pleased to announce additional high grade lithium results from a further seven diamond drill holes at the Company’s 100% owned Bergby lithium project in Sweden. Furthermore, re-assay results from the first five drillholes reported 25th April 2017 are also provided, which has on average increased the grade of lithium mineralized intersections for these holes. Key Results:
Following a review of assay values for lithium reference standard samples within the batch of analytical results for drillholes BBY17001 to BBY17005 as reported 25th April 2017, assay contractor ALS Ltd were requested to complete a re-assay of all samples using a technique better suited to high lithium grades. Grades increased significantly for three holes, and decreased slightly for two holes, as follows:
Blair Way, President and CEO, stated “The Bergby lithium project continues to deliver very encouraging high grade drill results at very shallow depth. Mineralization has been discovered in every drill hole to date, and we look forward to advancing the prospect quickly from here. In addition to lithium, regular elevated grades of tantalum are also being discovered. While the need to re-state drill intersections due to assay accuracy is always frustrating, the increased average grade for the first five drill holes is a worthy reward.”
Bergby lies in central Sweden, 25km north of the town of Gävle, 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. Holes reported within this release lie within a 150m x 80m area near a lithium mineralized pegmatite outcrop. Mineralization drilled to date lies very close to surface, and extends from the outcrop beneath thin glacial soil cover. Intersections often include elevated levels of tantalum (see Table 2 for all mineralized intersections). The true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness. Further drill results will be released as they become available. 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,
|For further information, contact: 1.604.685.9316
About Leading Edge Materials Leading Edge Materials was formed with our sights firmly focused on the material demands of a once-in-a-generation revolution, as the world shifts to the efficient production, storage and preservation of low carbon energy. From the lithium batteries in our electric vehicles to our ability to generate energy from the sun, wind and waves LEM is focused on the green energy markets. With a focus on Europe and assets in innovation-rich Scandinavia, Leading Edge Materials is ideally placed to play a pivotal role in the sustainable supply of critical technology materials.
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. 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, a Fellow of the Australasian Institute of Mining and Metallurgy has reviewed and verified the contents of this 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 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.
|Hole_ID||Easting SWEREF||Northing SWEREF||Elevation RH2000||Azimuth||Dip||Length|
Table 2: Mineralized intervals from first 12 drill holes, Bergby Project
|Hole Number||FROM (m)||TO (m)||WIDTH (m)||Li2O%||Ta2O5 ppm|
Figure 1: Location of Drilling and Interpreted Trend of Lithium-Bearing Pegmatite, Bergby Project. Grid presented in SWEREF coordinate system.