Leading Edge Materials Intersects Thickest Interval of Lithium Mineralization at Bergby, Sweden
Vancouver, Canada – Leading Edge Materials Corp. (“Leading Edge Materials”) or (the “Company”) (TSXV: LEM) (OTCQB: LEMIF) is pleased to announce results from the first five holes drilled as part of the second program of drilling completed at the Company’s 100% owned Bergby lithium project in Sweden. Results from infill and step out holes have included the thickest mineralized interval intersected to date of 19.5m @ 1.12% Li2O (lithium oxide) in hole BBY17020.
- BBY17019 intersected 12.6m @ 0.83% Li2O, from 21.1m depth
- BBY17020 intersected 19.5m @ 1.12% Li2O, 184ppm Ta2O5 (tantalum oxide), from 13.6m depth
- BBY17021 intersected 1.0m @ 0.96% Li2O, from 15.4m depth
- BBY17023 intersected 8.2m @ 0.14% Li2O from 57.1m depth
- BBY17024 intersected 8.1m @ 0.23% Li2O, from 56.1m depth
Holes were drilled in the southern area of the prospect to infill and test down dip from previous drilling. Of particular note, hole BBY17020, the second most mineralized hole drilled at Bergby to date, was both thicker and higher grade than holes on adjacent 50m sections (which graded 6.40m @ 0.64% Li2O and 16.35m @ 1.00% Li2O). Furthermore, lithium mineralization in hole BBY17021 was discovered in an intermediate volcanic unit, rather than the pegmatite which had been the subject of all previous exploration and assaying.
The drill program is now complete, with 15 holes drilled for a total of 991.0m. Bergby has now been tested by a total of 33 drill holes to a maximum depth of 131.1m over an approximate 1500m strike length. Drill hole locations and results are provided in Tables 1 and 2 and presented as Figure 1. The true thickness of mineralized intervals is interpreted to be approximately 90% of the sampled thickness.
Blair Way, President and CEO, stated “Our exploration at Bergby has continued to deliver very promising results, and a high grade and thickness interval like 19.5m 1.12% Li2O at very shallow depth provides us with a lot of optimism. While Bergby remains an early stage discovery, we are now preparing for metallurgical testwork to move the project to the next stage. We look forward to sharing the next round of drill results from this second phase program as they become available.”
Bergby lies in central Sweden, 25km north of the town of Gävle, 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.
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, 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.
This is information that Leading Edge Materials Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 17th November, 2017 at 0530 Vancouver time.
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.
About Leading Edge Materials:
Leading Edge Materials is a Canadian public company with principal assets in Scandinavia, a region well recognized 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.