Extensive Zn-Pb-AG-Mineralization IN Galleries G2 and G7, Bihor Sud Project, Romania
NEWS RELEASE June 18, 2024
LEADING EDGE MATERIALS CORP.
14th Floor – 1040 West Georgia Street, Vancouver, BC, V6E 4H1
[email protected] | www.leadingedgematerials.com
TSX.V: LEM | Nasdaq First North: LEMSE | OTCQB: LEMIF | FRA: 7FL
TSX.V: LEM | Nasdaq First North: LEMSE | OTCQB: LEMIF
EXTENSIVE Zn-Pb-Ag-MINERALIZATION IN GALLERIES G2 AND G7, BIHOR SUD
PROJECT, ROMANIA
- Over 8 km of galleries made accessible in G2
- Significant Zn-Pb-Ag mineralization detected with hand-held XRF in G2
- A silver-rich zone was detected in G7
- 1,500 meter Co-Ni drill program to start in G7, July 2024
- Plans in development for 6,000 meter drill program in G2 to follow on
Vancouver, June 18, 2024 – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”)
(TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) is pleased to announce that it has
identified extensive Zn-Pb-Ag+/-Cu mineralization in galleries G2 and G7 (Fig. 1) at the Company’s Bihor Sud
Project in Romania.
The Company’s contractor Radioactiv Mineral Magurele (RMM, 100% Romanian State owned) has recently
opened historical exploration gallery G2. Insemex, the Romanian institution for mine safety and inspections,
has already reviewed the entire length of G2 and declared it ready for operational activities. Galleries G2, G4,
and G7 are fully permitted for any operational activities by the Romanian state organization CNCAN. The Dibarz
Gallery (GD, Fig. 1) is part of the former Avram Iancu mine further north, within the license area, for which LEMR
recently received clearance from the Ministry of Economy to perform exploration activities.
Gallery G2 is very well preserved and provides safe access to the principal axis of about 3,200 m, from which
extensive transversals emanate mainly to the north for a total of over 8,000 m of galleries in the G2-system. A
raise to the 120 m higher Dibarz gallery system (Fig. 1, pink) creates a constant, natural air flow. The first two
cross-cuts after about 1,600 m from the mouth of G2 encountered a several meters thick carbonate level, which
is pervasively altered and mineralized where the gallery cuts it in several places (Fig. 1). Alteration with Zn-Pb-
Ag+/-Cu mineralization is exposed on a scale of tens of meters to +100 meters. Hand-held XRF-data showed Pb-
Zn grades of several percent along with significant silver grades in the altered carbonates.
Ten chip samples of 1-2 kg each were collected on a G2-reconnaissance visit from an 80 m long mineralized
sector outlined in Fig. 1. Results are given in Table 1. The Zn-equivalent average grade* for these ten samples
is 7.34 % (Zn+Pb+Ag+Cu).
Inspection and safety monitoring by RMM is ongoing in the vast G2-system, so that further reconnaissance,
mapping, channel sampling, and eventually drilling can be performed in a safe work environment. A
reconnaissance visit has also been carried out to the Dibarz gallery system, which reportedly served to mine
high-grade Zn-Pb-Ag+/-Cu ore north of the Dibarz galley mouth, extracted from only one level. Further Zn-Pb-
Ag+/-Cu mineralization of the type encountered in G2 has been observed in the southern part of the Dibarz
gallery system. There appears to be a NNW-SSE mineralized trend of at least 2,200 m from Dibarz to G2, which
corresponds to the regional first order fault direction, also observed on the Zn-Cu-Pb-Ag veins in G4.
Kurt Budge, Chief Executive Officer, states: “We are excited about the mineralization showing in G2, which opens a
significantly larger mineralization extent than seen previously. The LEMR team believes we are just started to discover
the potential of G2. There was reportedly further mineralization encountered in the rear part of G2 and in respective
transversals during historical exploration works, also of cobalt-nickel. The Company is now preparing for
reconnaissance trips to these areas as well, to be followed by systematic geological work to understand the full extent
of this mineralized system, both for Zn-Pb-Ag+/-Cu, and for Co-Ni before drilling starts later in the year.”
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* Metal prices used for Zn- and Ag-equivalent calculation: Zn – 2700 US$/t, Pb – 2100 US$/t, Ag – 29 US$/oz, Cu –
9500 US$/t.
Figure 1: Overview of the southern license area with its historical galleries and the Zn-Pb-Ag+/-Cu mineralization inventory.
GD = Dibarz Gallery. Note that the Dibarz gallery system is 120 m above the level of G2, which opens significant vertical potential to
the mineralization observed in both galleries.
In the G4 and G7 gallery-system, the Company completed underground mapping and sampling for high-grade
Co-Ni-Au mineralization reported previously. G4 lies 50 m above G7 and has reached the same Co-Ni-Au zone
up-dip, so that there is very good coverage of the structural inventory controlling mineralization. Additionally,
underground geophysical sections were obtained in the area to be drilled and beyond, assessing rock
conductivity. The collected data allows for prediction of the down-dip continuation of mineralization, which will
be followed up with a 1,500 m drill program from July-September 2024. Underground drilling does not need
approval from the authorities so that it can start anytime in any of the galleries of the Bihor Sud project. The
company has recently acquired an Atlas-Copco Diamec 232 underground drill rig for permanent availability,
which will be operated by RMM. This allows for highest flexibility and fast moving towards interesting targets in
any of the galleries, which will be successively opened. After initial mapping and sampling in G2 in Q3, the drill
rig will move there for ongoing underground drilling, with an estimated 6,000 m forecast by the end of the year.
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Table 1: ALS-results for all 10 chip samples collected within an 80 m long gallery sector on a reconnaissance tour through the newly
opened G2-system (Fig. 1 for location).
Sample ID Ag [g/t] Pb [%] Zn [%] Cu [%]
G2-01 17 0,01 0,04 0,47
G2-02 365 22,00 10,65 1,38
G2-03 16 3,79 3,38 0,19
G2-05 2 0,07 0,25 0,12
G2-06 4 1,02 0,41 0,02
G2-07 17 1,90 3,15 0,15
G2-08 6 0,69 0,40 0,02
G2-09 9 2,71 2,57 0,13
G2-10 3 0,24 0,55 0,01
G2-11 3 0,52 2,26 0,05
Table 2: ALS-results for all 12 chip samples collected within a 40 m long mineralized along the main axis of G7, starting 110 m from
the gallery mouth.
Sample ID Ag [g/t] Pb [%] Zn [%] Cu [%]
VLG07C407 540 10.80 8.78 0.06
VLG07C410 391 7.97 6.72 0.06
VLG07C409 296 9.88 6.98 0.03
VLG07C397 215 4.73 6.33 0.05
VLG07C404 169 4.13 3.65 0.03
VLG07C408 150 3.56 2.94 0.02
VLG07C405 108 2.10 2.03 0.02
VLG07C394 92 1.82 1.29 0.01
VLG07C396 11 2.66 2.57 0.02
VLG07C406 62 1.32 0.87 0.01
VLG07C403 30 0.56 0.51 0.01
VLG07C395 16 0.41 0.38 0.00
Qualified Person
The scientific and technical information in this release has been reviewed, verified, and approved by, a Martin
S. Oczlon, PhD Geol, CEngMIMMM, a consultant to Leading Edge Material and Qualified Person as defined in
Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects" (“NI 43-101”).
Sample preparation and gold assays were performed by ALS Romania; assays for all other elements were
performed by ALS Geochemistry in Ireland (Loughrea). The QP has reviewed and verified the QA/QC data
including sample handling, security and analytical procedure, and has no doubt the reported results have been
obtained by the laboratory to best industry practices.
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Kurt Budge, CEO
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For further information, please contact the Company at:
www.leadingedgematerials.com
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About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw
material projects located in the European Union. Critical raw materials are determined as such by the
European Union based on their economic importance and supply risk. They are directly linked to high growth
technologies such as batteries for electromobility and energy storage and permanent magnets for electric
motors and wind power that underpin the clean energy transition towards climate neutrality. The portfolio of
projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Karr HREE project (Sweden) and the
51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).
Additional Information
The information was submitted for publication through the agency of the contact person set out above, on
June 18, 2024, at 11:00 PM Vancouver time.
Leading Edge Materials is listed on the TSXV under the symbol “LEM”, OTCQB under the symbol “LEMIF” and
Nasdaq First North Stockholm under the symbol "LEMSE". Mangold Fondkommission AB is the Company’s
Certified Adviser on Nasdaq First North and may be contacted via email [email protected] or by phone +46 (0)
8 5030 1550.
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