VANCOUVER, July 11, 2017 /CNW/ - Leading Edge Materials Corp. ("Leading Edge Materials") or ("the Company") (TSXV: LEM) (OTCQB: LEMIF) is pleased to announce the receipt of a new drilling permit for the Bergby lithium project in Sweden. The new permit allows for up to 48 additional drill sites, and the Company is targeting third quarter of calendar 2017 for drilling operations to commence.
The first drill program at Bergby (see Leading Edge Materials press releases dated April 25, June 5 and June 19, 2017) produced positive results and a follow up program is warranted. Li2O (lithium oxide) mineralization in pegmatite was intersected in 17 of the 18 holes drilled during this first program, and included high lithium grades and mineralized intervals exceeding 16m thickness (see Tables 1 and 2 in June 19 release). Encouragingly, lithium mineralized pegmatite was discovered at very shallow depths, extending from surface outcrop and dipping beneath thin glacial soil cover.
The proposed second phase drill program at Bergby will test along strike and down dip from previously drilled mineralization, as mineralization lies open in all directions. Lithium mineralized outcrops and boulders are known from a strike length of more than 1.5km, significantly exceeding the 600m of strike that has been drill tested to date. The lithium mineralized pegmatite dips at shallow depth, and multiple down dip holes are planned for each drill section.
A detailed program is now being prepared. A component of larger diameter drilling is planned to gain adequate sample for metallurgical testwork.
Blair Way, President and CEO, stated "Following on from the excellent results we received in the first Bergby drill program, our Swedish team has moved quickly to ensure we can continue our exploration at a fast pace. We now have a permit in place for an expanded drilling program that will test the along strike and down dip potential of the lithium mineralized pegmatite, both of which remain completely open."
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.
In corporate news, Leading Edge Materials advises of the resignation of Mr. Mikael Ranggard from the Board. Mr. Ranggard has played a critical role in the development of Leading Edge Materials, and he is thanked for his contribution. He shall continue to provide on-going consulting and advisory support to the Company.
On behalf of the Board,
Blair Way, President & CEO
About Leading Edge Materials
Leading Edge Materials was formed with our sights firmly focused on the material demands of a once-in-a-generation revolution, as the world shifts to the efficient production, storage and preservation of low carbon energy. From the lithium batteries in our electric vehicles to our ability to generate energy from the sun, wind and waves LEM is focused on the green energy markets. With a focus on Europe and assets in innovation-rich Scandinavia, Leading Edge Materials is ideally placed to play a pivotal role in the sustainable supply of critical technology materials.
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.
The qualified person as defined in National Instrument 43-101, Blair Way, President, Chief Executive Officer and a director of the Company, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this 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, timing and expectations of planned drill programs; unexpected geological conditions; exploration activities to advance 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