VANCOUVER, Aug. 17, 2017 /CNW/ - Leading Edge Materials
Corp. ("Leading Edge Materials") or (the "Company") (TSXV:LEM)
(OTCQB: LEMIF) is pleased to announce the commencement of a second
drill program at the Bergby lithium project in Sweden.
Granted permits allow for up to 48 new drill sites that will allow
the implementation of a phased program focused on expanding the
area of lithium mineralization, and collecting samples for
metallurgical testwork. It is anticipated that this drill program
will be approximately 900m of targeted drilling.
Leading Edge Materials received positive results from the
drilling at Bergby completed during the first half of 2017.
Li2O (lithium oxide) mineralized pegmatite was
intersected in 17 of the 18 holes drilled, consistently at very
shallow depths.
This second drill program at Bergby will test along strike and
down dip from previously drilled mineralization. Lithium
mineralized outcrops and boulders are known from a strike length of
more than 1.5km, more than twice the strike tested by any previous
drilling. The lithium mineralized pegmatite dips at
shallow depth, and multiple down dip holes are planned for each
drill section.
Blair Way, President and CEO,
stated "Bergby has rapidly shaped up as a highly ranked lithium
project in the Nordic region. Following our previous drill
success, we have moved quickly to access the permits and the drill
rig needed to advance this exciting prospect. The lithium
mineralized pegmatite remains open in all directions, and the along
strike and down dip potential will be well tested by this
program."
Bergby lies in central Sweden,
25km north of the town of Gavle, 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 potential
for low cost and rapid development is significantly enhanced by the
presence of a deep-water port only 5km from the site.
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"
Blair Way, President & CEO
The qualified person for the Company's exploration projects,
Mark Saxon, Director of Leading Edge
Materials and a Fellow of the Australasian Institute of Mining and
Metallurgy, has reviewed and verified the contents of this
release.
About Leading Edge Materials:
Leading Edge Materials is a Canadian public company with
principal assets in Scandinavia, a region well recognised for its
promotion and investment in innovation. LEM's flagship asset is the
Woxna Graphite production facility located in central Sweden targeting the supply of specialty
materials for lithium ion battery production. LEM's core
investments are matched to high growth markets, linked to the
global shift to low-carbon energy generation and energy
storage.
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. 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 the lithium ion battery market; the successful completion
of the drill program at Bergby; 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.
SOURCE Leading Edge Materials