Leading Edge Materials Updates on Progress of Bihor Sud Exploration License Application in Romania
Leading Edge Materials Updates on Progress
of Bihor Sud Exploration License Application
in Romania
VANCOUVER
,
Oct. 15, 2019
/CNW/ -
Leading Edge Materials Corp.
("
Leading Edge Materials
"
or the
"Company
") (
TSXV: LEM
) (
OTCQB: LEMIF
) (
Nasdaq First North: LEMSE
) is pleased to
advise that following official review by the Agenţia Natională pentru Resurse Minerale ("NAMR") in
Romania
, the Company's Bihor Sud Exploration License application (see Press Release dated
4
th
October 2019
) has been declared as compliant and has progressed to further evaluation.
The Company has been notified that one other application was received under the competitive
tender process.
The Exploration License application covers an area in western
Romania
where Leading Edge
Materials undertook various sampling programs during 2018/2019 under a Prospecting Permit with a
focus on Ni, Co, Zn and Ag mineralization. Following positive results, a request was made to NAMR
to open the area for public tender for an Exploration 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 SRL, is the
only company to have held a Prospecting Permit over the entire Exploration License application
area.
The Bihor Sud Exploration License application lies 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 former base metal (Zn, Ag, Cu, Pb)
mine that was closed in 1998.
Mr.
Mark Saxon
, Interim CEO stated,
"We are pleased to have received official notification that we
have passed the first step in the prospective granting of an Exploration License in
Romania
. We
will continue to keep the market up to date on the granting process."
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
15th October 2019
at
4:00 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.
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:
1.604.685.9316, [email protected],
www.leadingedgematerials.com
CO: Leading Edge Materials
CNW 07:00e 15-OCT-19