Leading Edge Materials Announces Exploration License Application in Romania
Leading Edge Materials Announces
Exploration License Application in Romania
VANCOUVER
,
Oct. 4, 2019
/CNW/ -
Leading Edge Materials Corp. ("Leading Edge Materials"
or the "Company") (TSXV: LEM) (OTCQB: LEMIF) (Nasdaq First North: LEMSE)
is pleased to
advise of the submission of the Company's first Exploration License application to the Agenţia
Natională pentru Resurse Minerale ("NAMR").
The application covers the same area as the Bihor Sud Prospecting Permit (see Press Release
dated
6th November 2018
) in western
Romania
(Figure 1), and was applied for by LEM Resources
SRL ("LEM Resources"). LEM Resources is a Joint Venture company where Leading Edge
Materials has the right to earn 90% ownership by achieving various project milestones.
The Bihor Sud Exploration License application is for a 5-year license covering 25 square kilometers
in the Northern Apuseni Mountains of Transylvania. Bihor Sud lies within the Western Tethyan
Metallogenic Belt, a well-mineralized district that includes the Timok copper-gold project along with
the Skouries, Chelopech, Bor and Majdanpek deposits. The Northern Apuseni Mountains are
famous for high grade skarn and carbonate replacement mineralization with historic production of
Cu, Mo, Ag, Au, Zn, U and Pb associated with Tethyan Arc intrusions. The area under application
includes a substantial former mine that was closed in 1998.
Mr.
Mark Saxon
, Interim CEO stated,
"Leading Edge Materials have been active in
Romania
for a
number of years, and through our work have put ourselves in the strongest possible position to be
granted the Exploration License within the coming weeks. We look forward to sharing details of
the application process and timelines over coming weeks."
Application for an Exploration License in
Romania
is via a competitive tender, following on from
public advertising of a pending area for bid. In the current tender round, twenty-one Exploration
Licenses were available for bid including the Bihor Sud license. The tender process is adjudicated
on the basis of technical and financial merit, with substantial credit given to the work completed
under the prior Prospecting Permit. Leading Edge Materials, via subsidiary LEM Resources, is the
only company to have held a Prospecting Permit over the entire Exploration License application
area. Leading Edge Materials will be advised in the coming week of the presence of competing
bids, and the timeline to being notified of whether granting is successful.
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Mr.
Mark Saxon
, Interim CEO
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. LEM's assets and research focus are towards the raw
materials for Li-ion batteries, high thermal efficiency and materials that improve the efficiency of
energy generation. Investments are linked to the global shift to low-carbon energy generation and
energy storage.
Additional Information
The information was submitted for publication through the agency of the contact person set out
above, at 4
th
of
October 2019
at
8:00 am
Vancouver
time.
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.
Figure 1: Location of the Bihor Sud Exploration License Application (CNW Group/Leading Edge
Materials)
Reader Advisory
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.
Neither 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.
SOURCE
Leading Edge Materials
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For further information:
please contact the Company at: 1.604.685.9316,
[email protected], www.leadingedgematerials.com
CO: Leading Edge Materials
CNW 11:00e 04-OCT-19