Leading Edge Materials Provides Update on Norra Kärr Rare Earth Element Project, Sweden
Leading Edge Materials Provides Update on
Norra Kärr Rare Earth Element Project,
Sweden
VANCOUVER
,
June 5, 2019
/CNW/ -
Leading Edge Materials Corp.
("
Leading Edge Materials
"
or the
"Company
") (
TSXV: LEM
) (
OTCQB: LEMIF
) (
Nasdaq First North: LEMSE
) is pleased to
provide an update with regard to the Norra Kärr rare earth element ("REE") deposit in
Sweden
following recent increases in REE prices and heightened media and investor interest in the future of
secure REE supply. At present, a majority of REE production and processing occurs in
China
, with
no primary production occurring within Europe.
Norra Kärr is highly significant in
Europe
, and can deliver a secure long term source of heavy rare
earth elements ("HREE"), zirconium, hafnium and niobium to European renewable energy and
electric vehicle industries.
The Norra Kärr REE deposit is 100% owned by the Company on a granted Exploration License, and
was discovered by Leading Edge Materials (then Tasman Metals Ltd) in 2009. Following an
extensive drilling campaign that intersected thick and consistent mineralized rock, the project
progressed quickly through metallurgical testing, resource calculations, Preliminary Economic
Assessment ("PEA"), environmental and social studies, and Mining Lease application, culminating in
a Pre-Feasibility Study ("PFS") completed in 2015. Relevant supporting documentation can be found
on the Company's
website
.
Norra Kärr is a peralkaline nepheline syenite intrusion which covers 450m x
1,500m
in area. The
deepest extents of the REE mineralized intrusion have not been delineated, but exceed
350m
.
Mineralogical studies show nearly all REE in the deposit is found within the mineral eudialyte, which
is enriched in heavy REEs, in particular dysprosium.
Due to the unique status of Norra Kärr, being one of only two NI43-101 REE resources on mainland
Europe
, the project was identified as potentially significant for European REE security (ERECON
study), and well supported by European Commission funding for process research (Horizon2020
funded EURARE study). Subsequent to the publication of the PFS, research by EURARE identified
an optimized flowsheet for eudialyte processing, and produced 25kg of REE oxalate from Norra Kärr
mineral concentrates. Furthermore, a by-product of high purity nepheline/feldspar was produced
which is believed suitable for European ceramic and glass markets.
Mr.
Mark Saxon
, Interim CEO Company states,
"Leading Edge Materials was a first mover in
European REE exploration, identifying the Norra Kärr deposit in 2009 and moving quickly to
understand its scale and economic potential. The deposit is enriched in heavy REEs, in particular
dysprosium, which is used in high strength permanent magnets. The rapid uptake in electric
vehicles and wind turbines is leading to accelerated magnet and magnet-metal demands.
Norra Kärr is a strategic project that has a unique ability to dramatically reduce European reliance
on
China
for critical raw materials. The US/Chinese trade tensions of the past weeks have again
demonstrated the weakness of REE supply chains, and the need to develop non-Chinese supply
options. Leading Edge Materials is seeking to meet and exceed the expectations and requirement
of the Swedish Mining Act, and re-establish a Mining Lease."
The Norra Kärr project is held upon a granted Exploration License, while a reapplication process for
a Mining Lease remains in progress. In
December 2018
, Leading Edge Materials submitted
supplementary information regarding the updated Norra Kärr Mining Lease application to the
Bergsstaten ("Swedish Mining Inspectorate").
The Bergsstaten forwarded the supplementary information to the Länsstyrelsen ("County
Administration Board") of Jönköping. On
March 8
th
, 2019, Länsstyrelsen submitted their opinion that
more information is required for them to support re-granting of the Norra Kärr Mining Lease (see
press release
8
th
March 2019
).
Leading Edge Materials reviewed the comments of the Länsstyrelsen, and has initiated a
Natura2000 permit application on Natura2000 areas in the Norra Kärr region which may be
influenced by a future mining operation. The Natura2000 permit application will be completed within
the Swedish summer months and submitted to support the Mining Lease application. The
environmental data to support the Natura2000 permit application has already been collected by the
Company as part of previous work conducted including during the PFS study.
For granting of a Mining Lease in
Sweden
, conditions include that the Bergsstaten and Länsstyrelsen
must be in agreement. In the circumstance that the Bergsstaten and Länsstyrelsen have contrasting
opinions, the decision is referred to the Regeringen ("Swedish Government") for adjudication. For
reference, when the Norra Kärr Mining Lease was granted in 2013, the Bergsstaten and
Länsstyrelsen were aligned in support of the Mining Lease granting, and referral to the Regeringen
was not required.
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, 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 operate 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.
Additional Information
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.
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, the re-granting of the
Norra K
ä
rr Mining Lease,
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 07:00e 05-JUN-19