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, 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
For further information: 1.604.685.9316 or [email protected], www.leadingedgematerials.com