Leading Edge Receives High Grade Cobalt-Nickel Results From Systematic Gallery Chip Sampling, Bihor Sud Project, Romania

–  Systematic sampling confirms in-situ high grade Co-Ni-Au and Cu-Zn-Pb-Ag mineralization within +150 m and 350 m gallery segments in G7 and G4 respectively

– G7 highlights include 3.5% Cobalt , 29.7% Nickel, 15.65 g/t Au with 60% of the samples exceeding 0.44% Nickel equivalent*

– G4 highlights include 11.7% Copper, 11.7% Lead and 18.7% Zinc with almost 50% of the samples exceeding 1 % copper equivalent**

– Channel sampling of the mineralised zones will follow in preparation for underground diamond drilling. 

Vancouver, October 25, 2023 – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) is pleased to announce it has received positive assay results for Co-Ni-Au from Gallery 7, and Cu-Zn-Pb-Ag from Gallery 4, systematically surveyed with chip samples mostly of 0.5-2 kg from mineralized zones identified visually on mapping and by handheld XRF. Exposed mineralization was sampled at a spacing of approximately 1 metre along strike to understand the extent of mineralized zones on the gallery walls in preparation of a follow-up channel sampling campaign. Results are displayed schematically on the gallery plans in Figs. 2 and 3, and on Tables 1 and 2.

Eric Krafft, Chief Executive Officer states: “We are very excited by the results from this initial stage of detailed exploration in Galleries 4 and 7, which has included detailed mapping and chip sampling. The results highlight the extent and high-grade mineralization potential of the Bihor Sud project. These results clearly justify the move to channel sampling and then underground drilling. Galleries 4 and 7 represent only a small portion of our exploration license with multiple historical galleries providing future exploration opportunities.” 

Co-Ni-Au in Gallery 7

The distribution of mineralized zones is within the 150 m long segment of G7 where they have been mapped and sampled to date (Figure 2). Sampling length in G7 was limited by a fall of ground that the Company is having cleared and made safe.  Observed Co-Ni-mineralization extends a considerable distance and will add to the overall strike length of the total mineralized G7 segment. The structurally controlled mineralized zones are commonly traced on the gallery walls over few metres to few tens of metres and are on the order of 20-80 cm thick but may occur in a stacked manner with barren material in between. Mineralization occurs on the foliation of schists, on the cleavage in schists, and on faults. A total of 104 chip samples were collected from G7 (see Table 1), and include highlight samples of 15.65 g/t gold, 3.5% cobalt and 29.7% nickel.

*Nickel equivalent grades are based on the following metal prices;  gold 1978 US$/oz, cobalt 33,420 US$/t, nickel 18,000 US$/t.
**Copper equivalent grades are based on the following metal prices; copper 7993 US$/t, zinc 2414 US$/t, lead 2100 US$/t, silver 23 US$/oz

Sample preparation and gold assays were performed by ALS Romania; assays for all other elements were performed by ALS Geochemistry in Ireland (Loughrea).

The QP has reviewed the QA/QC data and has no doubt the reported results have been obtained by the laboratory to best industry practice.

Figure 1: License overview map showing the location of the sampled galleries G4 and G7 whose extent is only schematically given.

Cu-Zn-Pb-Ag in Gallery 4

Mineralization in G4 is controlled by steeply dipping NNW-SSE faults, and there is virtually no dissemination with economic grades on the foliation of schists around mineralized faults. The segment in G4, wherein multiple, parallel mineralized structures are exposed, has a strike extent of about 350 m, and individual mineralized fault sectors can be traced over metres to several tens of metres on the gallery walls. Mapping of the mineralized structures indicates that they only rarely exceed 40 cm and are commonly about 10-20 cm thick. A total of 76 chip samples were collected from mineralized zones of G4 (see Table 2 and Figure 3), and include highlight samples of 11.7% copper, 18.7% zinc, 11.7% lead and 649 g/t silver.

Further exploration

Being located up-valley, G4 is positioned 50 m higher than G7. Accordingly, the cross-cut driven from G4 towards G7 (schematically shown in green on Figure 1) reaches Co-Ni-Au mineralization 50 m above G7, where a system of side-galleries and niches is developed from G4. There is also a cross-cut driven from G7 towards the down-dip extent of Cu-Zn-Pb-Ag mineralization 50 m under G4, where a system of side-galleries and niches is developed at the elevation level of G7 exposing Cu-Zn-Pb-Ag-mineralized structures. Furthermore, Co-Ni-Au-mineralization was accessible in G7 only to 560 m from the gallery mouth, where a collapsed zone in mineralization blocked the passage. This is now cleared with the passage secured and ventilated. A preliminary review of G7 beyond the collapsed zone reveals several zones of Co-Ni-oxides with their typical pink and green colours on the gallery walls, which are currently surveyed. All of the mentioned gallery sectors in Co-Ni-Au and Cu-Zn-Pb-Ag mineralization are subject to further systematic chip sampling. Once completed, channel samples will be projected and executed based on the chip sample results, to be followed up by an underground drilling campaign.

Figure 2: Location of chip samples in G7. Mineralization is open to the SSE where access has only now been established. Samples VLG07C102-104 (Table 1) form an outlier 80 m NNW of the image frame not displayed here.

Figure 3: Location of chip samples in G4 on mineralized NW-SE structures. Zoom in for more detail.


Table 1: Chip assay results from mineralized exposures along a 230 m segment in Gallery 7, spaced approximately 1 metre apart in individual exposures.

Sample ID Au [g/t] Co [%] Ni [%] Sample ID Au [g/t] Co [%] Ni [%]
VLG07C001 0.27 0.05 0.02 VLG07C050 0.08 0.54 0.40
VLG07C002 0.06 0.03 0.01 VLG07C051 0.31 0.48 0.66
VLG07C003 0.76 0.15 0.05 VLG07C052 2.52 1.51 13.60
VLG07C004 0.10 0.06 0.03 VLG07C053 0.82 2.00 6.61
VLG07C005 0.16 0.07 0.05 VLG07C054 2.05 1.23 12.65
VLG07C006 4.18 0.13 0.11 VLG07C055 0.52 0.37 3.04
VLG07C007 1.44 0.13 0.07 VLG07C056 1.02 0.54 7.17
VLG07C008 1.33 0.97 0.35 VLG07C057 <0.01 0.01 0.01
VLG07C009 0.03 0.02 0.02 VLG07C058 0.01 0.04 0.09
VLG07C010 0.08 0.20 0.13 VLG07C059 0.44 0.41 1.01
VLG07C011 0.03 0.04 0.04 VLG07C060 0.02 0.09 0.05
VLG07C012 0.05 0.36 0.08 VLG07C061 0.01 0.19 0.08
VLG07C013 0.03 0.09 0.05 VLG07C062 2.05 1.43 4.12
VLG07C014 0.06 0.05 0.06 VLG07C063 0.93 0.75 1.65
VLG07C015 0.07 0.21 0.04 VLG07C064 1.99 1.53 4.35
VLG07C016 0.02 0.05 0.01 VLG07C065 0.05 0.50 0.30
VLG07C017 0.42 0.34 0.06 VLG07C066 0.04 0.10 0.06
VLG07C018 0.13 0.24 0.13 VLG07C067 0.77 0.93 29.70
VLG07C019 0.01 0.05 0.02 VLG07C068 0.56 0.30 23.30
VLG07C020 0.02 0.17 0.06 VLG07C069 0.02 0.06 0.13
VLG07C021 0.04 0.09 0.09 VLG07C070 0.05 0.02 0.52
VLG07C022 0.01 0.19 0.11 VLG07C071 0.01 0.06 0.08
VLG07C023 <0.01 0.02 0.01 VLG07C072 0.01 0.11 0.05
VLG07C024 <0.01 0.02 0.01 VLG07C073 0.05 1.07 0.98
VLG07C025 <0.01 0.01 0.02 VLG07C074 0.01 0.01 0.03
VLG07C026 <0.01 0.00 0.01 VLG07C075 0.06 0.42 2.66
VLG07C027 2.24 0.19 0.27 VLG07C076 0.02 0.95 0.44
VLG07C028 5.30 1.43 17.80 VLG07C077 0.07 0.40 0.14
VLG07C029 0.01 0.01 0.03 VLG07C078 4.87 0.69 0.17
VLG07C030 14.2 0.24 0.29 VLG07C079 0.83 0.86 0.13
VLG07C031 1.71 0.70 9.66 VLG07C080 0.04 0.16 0.09
VLG07C032 0.01 0.00 0.02 VLG07C081 0.80 0.57 2.33
VLG07C033 4.02 0.11 0.07 VLG07C082 0.32 0.39 1.02
VLG07C034 0.45 0.09 0.17 VLG07C083 0.06 0.19 0.08
VLG07C035 0.15 0.14 0.05 VLG07C084 0.06 0.02 0.01
VLG07C036 15.65 2.74 15.95 VLG07C085 0.01 0.00 0.01
VLG07C037 0.06 0.01 0.36 VLG07C086 <0.01 0.01 0.01
VLG07C038 0.12 0.02 1.11 VLG07C087 0.01 0.01 0.01
VLG07C039 0.04 0.01 0.05 VLG07C088 0.01 0.00 0.00
VLG07C040 0.09 0.20 0.07 VLG07C089 0.01 0.07 0.02
VLG07C041 0.05 0.13 0.06 VLG07C090 1.00 0.42 0.25
VLG07C042 0.38 1.44 6.18 VLG07C091 7.60 3.53 3.98
VLG07C043 0.53 2.87 3.36 VLG07C092 0.89 0.76 0.64
VLG07C044 1.05 2.69 4.41 VLG07C093 1.26 1.32 0.41
VLG07C045 0.02 0.14 0.06 VLG07C094 0.01 0.04 0.01
VLG07C046 0.94 2.69 15.60 VLG07C095 3.97 0.71 7.90
VLG07C047 0.05 0.48 0.28 VLG07C096 7.77 2.59 1.21
VLG07C048 0.92 1.35 16.00 VLG07C097 0.71 0.32 0.21
VLG07C049 0.80 0.66 7.67 VLG07C098 3.30 0.69 0.58

 

Sample ID Au [g/t] Co [%] Ni [%]
VLG07C099 1.90 0.48 0.22
VLG07C100 0.04 0.20 0.65
VLG07C101 0.04 0.00 0.01
VLG07C102 1.88 0.44 6.24
VLG07C103 0.02 0.05 0.03
VLG07C104 0.03 0.04 0.04

 

Table 2: Chip assay results from mineralized exposures along a 350 m segment in Gallery 4, spaced approximately 1 metre apart in individual exposures.

Sample ID Ag [g/t] Pb [%] Cu [%] Zn [%]   Sample ID Ag [g/t] Pb [%] Cu [%] Zn [%]
VLG04C001 1 0.02 0.01 0.05 VLG04C039 2 0.06 0.01 0.03
VLG04C002 <1 0.01 0.00 0.01 VLG04C040 15 0.22 0.74 18.65
VLG04C003 17 0.26 0.01 0.09 VLG04C041 <1 0.01 0.03 0.03
VLG04C004 0.5 0.01 0.00 0.02 VLG04C042 <1 0.00 0.01 0.02
VLG04C005 8 0.02 0.07 0.02 VLG04C043 <1 0.00 0.00 0.01
VLG04C006 3 0.08 0.00 0.08 VLG04C044 <1 0.01 0.01 0.02
VLG04C007 <1 0.01 0.00 0.02 VLG04C045 80 1.15 0.04 0.11
VLG04C008 13 0.03 0.24 0.94 VLG04C046 <1 0.01 0.02 0.04
VLG04C009 <1 0.01 0.00 0.04 VLG04C047 10 0.03 0.01 0.08
VLG04C010 <1 0.01 0.00 0.04 VLG04C048 <1 0.01 0.00 0.01
VLG04C011 340 4.57 3.31 2.38 VLG04C049 <1 0.00 0.01 0.09
VLG04C012 45 0.14 0.60 1.03 VLG04C050 21 0.51 0.02 1.22
VLG04C013 23 0.05 0.78 1.75 VLG04C051 178 8.86 2.46 6.66
VLG04C014 275 0.87 2.86 3.75 VLG04C052 116 2.88 0.27 3.22
VLG04C015 309 1.96 1.25 2.34 VLG04C053 220 5.41 1.78 8.77
VLG04C016 5 0.08 0.01 0.14 VLG04C054 419 7.52 0.44 10.45
VLG04C017 5 0.33 0.09 0.56 VLG04C055 175 2.18 1.55 18.00
VLG04C018 43 0.39 0.01 0.36 VLG04C056 73 11.70 1.34 10.95
VLG04C019 38 1.55 0.90 6.60 VLG04C057 48 3.96 0.44 5.02
VLG04C020 66 0.36 1.39 12.15 VLG04C058 3 0.85 0.07 0.57
VLG04C021 64 0.66 1.03 4.56 VLG04C059 <1 0.02 0.06 0.03
VLG04C022 23 0.14 0.51 4.60 VLG04C060 1 0.01 0.08 0.02
VLG04C023 29 0.15 0.32 14.50 VLG04C061 <1 0.00 0.07 0.01
VLG04C024 24 0.19 0.15 0.39 VLG04C062 <1 0.00 0.01 0.02
VLG04C025 30 0.07 6.55 0.42 VLG04C063 <1 0.01 0.07 0.03
VLG04C026 243 1.09 5.39 1.58 VLG04C064 2 0.09 0.06 0.10
VLG04C027 111 0.77 2.64 3.43 VLG04C065 19 0.16 0.06 1.79
VLG04C028 52 0.21 1.51 0.88 VLG04C066 6 0.14 0.01 0.26
VLG04C029 65 0.81 0.20 8.51 VLG04C067 <1 0.01 0.01 0.03
VLG04C030 15 0.38 1.05 1.10 VLG04C068 <1 0.00 0.01 0.02
VLG04C031 30 0.22 4.21 0.40 VLG04C069 19 0.24 0.13 1.19
VLG04C032 293 2.05 0.18 7.16 VLG04C070 397 5.42 6.78 4.31
VLG04C033 103 0.68 0.06 0.94 VLG04C071 37 0.33 0.11 1.53
VLG04C034 151 5.96 0.36 4.79 VLG04C072 180 2.63 2.15 3.10
VLG04C035 31 0.76 3.98 0.76 VLG04C073 649 0.19 11.70 0.61
VLG04C036 <1 0.05 0.02 0.05 VLG04C074 350 5.89 3.14 11.45
VLG04C037 <1 0.01 0.01 0.02 VLG04C075 230 1.70 3.23 3.56
VLG04C038 1 0.02 0.04 0.06 VLG04C076 8 0.15 0.03 0.56

 Qualified Person

The scientific and technical information in this release has been reviewed, verified, and approved by, a Martin S. Oczlon, PhD Geol, CEngMIMMM, a consultant to Leading Edge Material and Qualified Person as defined in Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101”).

The QP has reviewed and verified the QA/QC data including sample handling, security and analytical procedure, and has no doubt the reported results have been obtained by the laboratory to best industry practices.

Sample preparation and gold assays were performed by ALS Romania; assays for all other elements were performed by ALS Geochemistry in Ireland (Loughrea).

On behalf of the Board of Directors,
Leading Edge Materials Corp.

Eric Krafft, CEO

For further information, please contact the Company at:
info@leadingedgematerials.com
www.leadingedgematerials.com

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About Leading Edge Materials

Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw material projects located in the European Union. Critical raw materials are determined as such by the European Union based on their economic importance and supply risk. They are directly linked to high growth technologies such as batteries for electromobility and energy storage and permanent magnets for electric motors and wind power that underpin the clean energy transition towards climate neutrality. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Karr HREE project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).

Additional Information

The information was submitted for publication through the agency of the contact person set out above, on October 25, 2023, at 1:30 pm Vancouver time.

Leading Edge Materials is listed on the TSXV under the symbol “LEM”, OTCQB under the symbol “LEMIF” and Nasdaq First North Stockholm under the symbol “LEMSE”.  Mangold Fondkommission AB is the Company’s Certified Adviser on Nasdaq First North and may be contacted via email CA@mangold.se or by phone +46 (0) 8 5030 1550.

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