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Leading Edge Materials Stakes the Vena Cobalt Project in Sweden
Nov. 02, 2016 10:15AM PST
Battery Metals
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov 2, 2016) – Leading Edge Materials Corp. (TSXV:LEM) (OTCQB:LEMIF)announces the staking of the Company’s first cobalt-copper project, Vena, located in central Sweden, approximately 250 km southwest of Stockholm.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov 2, 2016) – Leading Edge Materials Corp. (TSXV:LEM) (OTCQB:LEMIF)announces the staking of the Company’s first cobalt-copper project, Vena, located in central Sweden, approximately 250 km southwest of Stockholm. The project lies in the County of Orebro, and is secured by Leading Edge Material’s 350 Ha Vena nr 5 claim.
Key points:
- Acquisition, by staking, of the Company’s first cobalt project, Vena, located in central Sweden;
- Vena is a site of extensive historic mining activity including 200 separate pits over an area of more than 2500 metres by 500 metres. The deepest workings extend to only 68 metres in depth;
- Cobalt plays an essential role in lithium ion batteries for the automotive, consumer product and stationary electrify storage industries. Annual consumption of cobalt is forecast to double to 200,000 tonnes over the next decade;
- Historic data will be reviewed and a program defined for advancing the project.
Blair Way, President and CEO, stated: “The Vena cobalt project provides Leading Edge Materials with a further step into the lithium ion battery raw material supply chain for the European market. We continue to work diligently to add low holding cost, strategic high quality projects to our critical materials portfolio whilst progressing our high value graphite product development.”
LEM:CA