Leading Edge Materials Commences Drilling on the Bergby Lithium Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 6, 2017) - Leading Edge Materials Corp. ("Leading Edge Materials") or (the "Company") (TSX VENTURE:LEM)(OTCQB:LEMIF) is pleased to announce granting of a drilling permit for the Company's 100% owned Bergby lithium project by Swedish authorities. Drilling equipment has been mobilized to site, and drilling is planned to commence within days.
Bergby lies in central Sweden, 25km north of the town of Gavle, and is 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 village of Norrsundet lies 5km east of the Bergby project, a deep-water port where until recently a major wood chip and pulp mill operated.
This drilling program is the first ever to be undertaken at Bergby, with up to 25 diamond holes planned, comprised of a combination of short holes to prospect beneath glacial soil cover and deeper holes to test the extent of the lithium mineralized pegmatite.
Bergby is characterized by an extensive boulder field and outcrop of high grade lithium mineralization. Fifteen samples taken from three outcrop areas returned Li2O (lithium oxide) averaging 1.71% and ranging from 0.01% to 4.65%; and Ta2O5 (tantalum pentoxide) averaging 133 ppm and ranging from 16 ppm to 803 ppm. Samples included representative chip samples, composite samples and selective grab samples depending on outcrop quality, and were taken from three sites across an area of approximately 350m x 750m.
Blair Way, President and CEO, stated "Our exploration at the Bergby lithium project is moving quickly, with drilling commencing this week. Very little historic exploration for lithium has been completed in Sweden, and we see Bergby as Leading Edge Materials' first step in testing high quality lithium projects. I look forward to providing updates and data as the drill program progresses over the coming weeks."
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.
Come meet the LEM team at PDAC, booth 2939, from Sunday March 5th to Wednesday March 8th. LEM is presenting at the Electric / REE session in room 801B at 4:20pm Tuesday March 7th.
On behalf of the Board,
Blair Way, President & CEO
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 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.
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 timing of commencement of planned drill programs, successful completion of drill programs, 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; 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.
