Leading Edge Materials Provides Update on Romanian Cobalt Exploration Alliance
Leading Edge Materials Provides Update on
Romanian Cobalt Exploration Alliance
VANCOUVER
,
Nov. 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
"
.
Qualified Person
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
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.
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, 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
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
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 08:30e 06-NOV-18