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 4th 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.
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SOURCE Leading Edge Materials
1.604.685.9316, [email protected], www.leadingedgematerials.com
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