Leading Edge Materials Provides Update on Romanian Cobalt Exploration Alliance
Vancouver, November 6, 2018 /CNW/ - Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) following a recent on-site technical review, the Company is pleased to provide an update regarding the progress of its Romanian Exploration Alliance (see press release dated 9 August 2018). The Exploration Alliance is focused on the discovery and development of lithium ion battery raw materials.
The principal efforts of the Exploration Alliance to date has been directed towards cobalt mineralization within the Upper Cretaceous Carpathian magmatic belt of the Balkan region. The Carpathian is a well mineralized intrusive arc that extends from Western Turkey to Hungary, forming the western end of the Tethyan Metallogenic Belt.
Following technical and commercial due diligence, Leading Edge Materials established a local branch company (“LEM Romania”) of which it is the majority shareholder with the right to earn a 90% interest. LEM Romania is owner of the 25.5 sq km (2,550 ha) Bihor Sud Prospecting Permit in central western Romania. Bihor Sud lies within the same intrusive belt and less than 400km north of Nevsun Resources Ltd.’s Timok copper-gold project in Serbia which is currently subject to a friendly takeover bid by Zijin Mining Group Co. Ltd. Other notable deposits in the West Tethyan Metallogenic Belt include Skouries, Chelopech, Bor and Majdanpek.
Staff and consultants to LEM Romania have been active on Bihor Sud Prospecting Permit over the summer period, compiling historic data, sampling historic mine waste dumps, completing preliminary ground geophysics and soil sampling. Review of progress and results to date are considered highly encouraging, and it is anticipated that LEM Romania shall proceed to Exploration License application across prospective areas.
Blair Way, President and CEO, stated “Our Exploration Alliance in Romania is making good progress, with an experienced team in place and work underway on a number of high potential cobalt prospects. We look forward to sharing project details as we progress to an Exploration License application”.
The technical content of this release has been reviewed and approved by Mr. Blair Way, B.Sc. (Geology) M.B.A., a Fellow of the Australasian Institute of Mining and Metallurgy, the Company’s President and CEO and a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Mr. Blair Way, President and CEO
Leading Edge Materials is listed on the TSXV under the symbol “LEM” and Nasdaq First North Stockholm under the symbol " LEMSE". Mangold Fondkommission AB is the Company’s CA on Nasdaq First North and may be contacted at +46 (0) 8 5030 1550.
This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
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About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on production of high value critical raw materials for the European market, with an operating base in the Nordic region, 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 assets and research focus are towards the raw materials for Li-ion batteries (graphite, lithium, cobalt); materials for high thermal efficiency building products (graphite, silica, nepheline); and materials that improve the efficiency of energy generation (dysprosium, neodymium, hafnium). Investments are linked to the global shift to low-carbon energy generation and energy storage. Leading Edge Materials currently operates in four divisions, Graphite, Lithium, Rare Earth and Cobalt. Mangold Fondkommission AB is the Company’s Certified Adviser (“CA”) as part of the listing requirements for Nasdaq First North.