VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/19/16 -- Leading Edge Materials Corp. ("Leading Edge Materials") or ("the Company") (TSX VENTURE: LEM) (OTCQB: LEMIF) is pleased to announce the discovery of the Company's first lithium project, Bergby, located in in central Sweden, 25km north of the town of Gavle.
Mapping and sampling of the Bergby claim has located a large number of angular pegmatitic and aplitic lithium-mineralized boulders within an area of 650 metres by 250 metres. Lithium is hosted within the minerals spodumene and petalite. Analytical results for the first 27 boulder samples have been received, and average 0.85% Li2O (lithium oxide) and range from 0.08% Li2O to 2.3% Li2O. The boulders are anomalous in other elements which characterize lithium-cesium-tantalum (LCT) pegmatites that are regularly associated with lithium deposits (table 1).
Blair Way, President and CEO, stated "We have been actively searching for lithium projects for some time, and are very pleased to have discovered a prospect with the potential of Bergby very close to our Woxna graphite mine. This project sits well within our strategy of acquiring low holding cost assets while we advance our graphite business model to supply the lithium Ion battery market. The lithium grades of the boulders and the scale of the project areas discovered to date demonstrate the prospectivity of the project. We look forward to following up with ground geophysics and geochemical sampling, with the aim to diamond drill test Bergby this winter."
The Bergby project was discovered by Leading Edge Materials' geological team utilizing geological data maintained by the Swedish Geological Survey ("SGU"). The SGU holds a very extensive database of mineralized boulders previously discovered across Sweden, including many that have never had significant follow-up. Leading Edge Materials' geologists identified lithium prospective boulders within this dataset, and subsequent field prospecting discovered the presence of an extensive lithium (Li) and tantalum (Ta) mineralized boulder field at Bergby. Bergby is located close to infrastructure, with major roads, rail and power supply passing immediately adjacent to the claim boundaries.
Follow-up work at Bergby includes further prospecting of areas along 700 metre trend from the initial discovery. Specifically, the Company plans to undertake a ground magnetic survey and shallow soil sampling to cover the most prospective area of the claims, with the eventual aim to be able diamond drill test Bergby this winter. Additional geochemical results will be released as they come to hand.
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. Europe is investing heavily in these emerging battery technologies, as part of the transition to a low-carbon economy.
Lithium was discovered in Sweden in 1817 by Swedish chemist Johan August Arfwedson, and named from the Greek word lithos, describing the rock from which it was extracted. Furthermore, the lithium minerals spodumene and petalite which are the ore-minerals in most hard rock lithium mines globally, were both first discovered and named in Sweden.
On behalf of the Board,
Blair Way, President & CEO
Samples submitted by Leading Edge Materials Corp were analyzed by the ME-MS81 and Li-OG63 technique by ALS Chemex Ltd's laboratories in Pitea, Sweden and Vancouver, Canada, where duplicates, repeats, blanks and known standards were inserted according to standard industry practice. The qualified person for the Company's exploration projects, Mark Saxon, Director of Leading Edge Materials, a Fellow of the Australasian Institute of Mining and Metallurgy has reviewed and verified the contents of this release.
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 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. Certain information in this news release may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "Forward-Looking Statements"). All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are Forward-Looking Statements. Forward-Looking Statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. Forward-Looking Statements are based upon the opinions and expectations of the Company based on information currently available to the Company.
Forward-Looking Statements are subject to a number of factors, risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the Forward-Looking Statements including, among other things, timing of the ground magnetic survey and shallow soil sampling program, timing of a diamond drill program at Bergby, the Company has yet to generate a profit from its activities; there can be no guarantee that the estimates of quantities or qualities of minerals disclosed in the Company's public record will be economically recoverable; uncertainties relating to the availability and costs of financing needed in the future; competition with other companies within the mining industry; the success of the Company is largely dependent upon the performance of its directors and officers and the Company's ability to attract and train key personnel; changes in world metal markets and equity markets beyond the Company's control; mineral resources are, in the large part, estimates and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized; production rates and capital and other costs may vary significantly from estimates; changes in corporate goals and strategies, unexpected geological conditions; and delays in obtaining or failure to obtain necessary permits and approvals from government authorities. Although the Company believes that the expectations reflected in the Forward-Looking Statements, and the assumptions on which such Forward-Looking Statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on Forward-Looking Statements, as there can be no assurance that the plans, intentions or expectations upon which the Forward-Looking Statements are based will occur. Forward-Looking Statements herein are made as at the date hereof, and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these Forward-Looking Statements.
Table 1: Analytical values for first 27 boulder samples from Bergby project, Sweden.
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Element Value Unit
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Li2O (lithium oxide) Average 0.85 %
Minimum 0.08 %
Maximum 2.30 %
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Ta2O5 (tantalum pentoxide) Average 154 ppm
Minimum 8 ppm
Maximum 463 ppm
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Ce (cesium) Average 255 ppm
Minimum 48 ppm
Maximum 517 ppm
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Rb (rubidium) Average 737 ppm
Minimum 90 ppm
Maximum 1480 ppm
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Sn (tin) Average 87 ppm
Minimum 10 ppm
Maximum 158 ppm
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Contacts:
Leading Edge Materials Corp.
604 685 9316
www.leadingedgematerials.com
