VANCOUVER, June 5, 2019 /CNW/ - Leading Edge Materials
Corp. ("Leading Edge Materials" or the
"Company") (TSXV: LEM) (OTCQB: LEMIF)
(Nasdaq First North: LEMSE) is pleased to provide an update
with regard to the Norra Kärr rare earth element ("REE") deposit in
Sweden following recent increases
in REE prices and heightened media and investor interest in the
future of secure REE supply. At present, a majority of REE
production and processing occurs in China, with no primary production occurring
within Europe.
Norra Kärr is highly significant in Europe, and can deliver a secure long term
source of heavy rare earth elements ("HREE"), zirconium, hafnium
and niobium to European renewable energy and electric vehicle
industries.
The Norra Kärr REE deposit is 100% owned by the Company on a
granted Exploration License, and was discovered by Leading Edge
Materials (then Tasman Metals Ltd) in 2009. Following an
extensive drilling campaign that intersected thick and consistent
mineralized rock, the project progressed quickly through
metallurgical testing, resource calculations, Preliminary Economic
Assessment ("PEA"), environmental and social studies, and Mining
Lease application, culminating in a Pre-Feasibility Study ("PFS")
completed in 2015. Relevant supporting documentation can be
found on the Company's website.
Norra Kärr is a peralkaline nepheline syenite intrusion which
covers 450m x 1,500m in area.
The deepest extents of the REE mineralized intrusion have not been
delineated, but exceed 350m.
Mineralogical studies show nearly all REE in the deposit is found
within the mineral eudialyte, which is enriched in heavy REEs, in
particular dysprosium.
Due to the unique status of Norra Kärr, being one of only two
NI43-101 REE resources on mainland Europe, the project was identified as
potentially significant for European REE security (ERECON study),
and well supported by European Commission funding for process
research (Horizon2020 funded EURARE study). Subsequent to the
publication of the PFS, research by EURARE identified an optimized
flowsheet for eudialyte processing, and produced 25kg of REE
oxalate from Norra Kärr mineral concentrates. Furthermore, a
by-product of high purity nepheline/feldspar was produced which is
believed suitable for European ceramic and glass
markets.
Mr. Mark Saxon, Interim CEO
Company states, "Leading Edge Materials was a first mover in
European REE exploration, identifying the Norra Kärr deposit in
2009 and moving quickly to understand its scale and economic
potential. The deposit is enriched in heavy REEs, in
particular dysprosium, which is used in high strength permanent
magnets. The rapid uptake in electric vehicles and wind
turbines is leading to accelerated magnet and magnet-metal
demands.
Norra Kärr is a strategic project that has a unique ability
to dramatically reduce European reliance on China for critical raw materials. The
US/Chinese trade tensions of the past weeks have again demonstrated
the weakness of REE supply chains, and the need to develop
non-Chinese supply options. Leading Edge Materials is seeking
to meet and exceed the expectations and requirement of the Swedish
Mining Act, and re-establish a Mining Lease."
The Norra Kärr project is held upon a granted Exploration
License, while a reapplication process for a Mining Lease remains
in progress. In December 2018,
Leading Edge Materials submitted supplementary information
regarding the updated Norra Kärr Mining Lease application to the
Bergsstaten ("Swedish Mining Inspectorate").
The Bergsstaten forwarded the supplementary information to the
Länsstyrelsen ("County Administration Board") of Jönköping.
On March 8th, 2019,
Länsstyrelsen submitted their opinion that more information is
required for them to support re-granting of the Norra Kärr Mining
Lease (see press release 8th March 2019).
Leading Edge Materials reviewed the comments of the
Länsstyrelsen, and has initiated a Natura2000 permit application on
Natura2000 areas in the Norra Kärr region which may be influenced
by a future mining operation. The Natura2000 permit
application will be completed within the Swedish summer months and
submitted to support the Mining Lease application. The
environmental data to support the Natura2000 permit application has
already been collected by the Company as part of previous work
conducted including during the PFS study.
For granting of a Mining Lease in Sweden, conditions include that the
Bergsstaten and Länsstyrelsen must be in agreement. In the
circumstance that the Bergsstaten and Länsstyrelsen have
contrasting opinions, the decision is referred to the Regeringen
("Swedish Government") for adjudication. For reference, when
the Norra Kärr Mining Lease was granted in 2013, the Bergsstaten
and Länsstyrelsen were aligned in support of the Mining Lease
granting, and referral to the Regeringen was not required.
On behalf of the Board of Directors, Leading Edge
Materials Corp.
Mr. Mark
Saxon, Interim CEO
About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on
production of high value critical raw materials for the European
market, with an operating base in the Nordic region, a region well
recognized 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 assets and research focus are towards the raw materials for
Li-ion batteries (graphite, lithium, cobalt); materials for high
thermal efficiency building products (graphite, silica, nepheline);
and materials that improve the efficiency of energy generation
(dysprosium, neodymium, hafnium). Investments are linked to the
global shift to low-carbon energy generation and energy storage.
Leading Edge Materials currently operate in four divisions,
Graphite, Lithium, Rare Earth and Cobalt. Mangold
Fondkommission AB is the company's Certified Adviser ("CA")
as part of the listing requirements for Nasdaq First North.
Additional Information
Leading Edge Materials is listed on the TSXV under the symbol
"LEM" and Nasdaq First North Stockholm under the symbol
"LEMSE". Mangold Fondkommission AB is the Company's CA on
Nasdaq First North and may be contacted at +46 (0) 8 5030
1550.
Reader Advisory
This news release may contain statements which
constitute "forward-looking information", including
statements regarding the plans, intentions, beliefs and
current expectations of the Company, its directors,
or its officers with respect to the future business activities of
the Company. The words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar
expressions, as they relate to the Company, or
its management, are intended to identify such forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future business
activities and involve
risks and uncertainties, and
that the Company's future business activities may
differ materially from those in the
forward-looking statements as a result of various
factors, including, but not limited to, the re-granting
of the Norra Kärr Mining Lease, fluctuations
in market prices, successes of the operations of the Company,
continued availability of capital and financing and general
economic, market or business conditions. There
can be no assurances that such information will prove
accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. The Company does not
assume any obligation to update any forward-looking
information except as required under the applicable
securities laws.
Neither 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.
SOURCE Leading Edge Materials