VANCOUVER, Oct. 15, 2019 /CNW/ - Leading Edge
Materials Corp. ("Leading Edge Materials" or the
"Company") (TSXV: LEM) (OTCQB: LEMIF)
(Nasdaq First North: LEMSE) is pleased to advise that
following official review by the Agenţia Natională pentru Resurse
Minerale ("NAMR") in Romania, the
Company's Bihor Sud Exploration License application (see Press
Release dated 4th October
2019) has been declared as compliant and has progressed to
further evaluation.
The Company has been notified that one other application was
received under the competitive tender process.
The Exploration License application covers an area in western
Romania where Leading Edge
Materials undertook various sampling programs during 2018/2019
under a Prospecting Permit with a focus on Ni, Co, Zn and Ag
mineralization. Following positive results, a request was made to
NAMR to open the area for public tender for an Exploration License.
The tender process is adjudicated on the basis of technical and
financial merit, with substantial credit given to the work
completed under the prior Prospecting Permit. Leading Edge
Materials, via subsidiary LEM Resources SRL, is the only company to
have held a Prospecting Permit over the entire Exploration License
application area.
The Bihor Sud Exploration License application lies in the
Northern Apuseni Mountains of Transylvania. Bihor Sud lies within
the Western Tethyan Metallogenic Belt, a well-mineralized district
that includes the Timok copper-gold project along with the
Skouries, Chelopech, Bor and Majdanpek deposits. The Northern
Apuseni Mountains are famous for high grade skarn and carbonate
replacement mineralization with historic production of Cu, Mo, Ag,
Au, Zn, U and Pb associated with Tethyan Arc intrusions. The area
under application includes a former base metal (Zn, Ag, Cu, Pb)
mine that was closed in 1998.
Mr. Mark Saxon, Interim CEO
stated, "We are pleased to have received official notification
that we have passed the first step in the prospective granting of
an Exploration License in Romania.
We will continue to keep the market up to date on the granting
process."
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. LEM's assets and research focus are towards the raw
materials for Li-ion batteries, high thermal efficiency and
materials that improve the efficiency of energy generation.
Investments are linked to the global shift to low-carbon energy
generation and energy storage.
Additional Information
The information was submitted for publication through the agency
of the contact person set out above, at 15th
October 2019 at 4:00 AM
Vancouver time.
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,
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