Leading Edge Materials Corp. (TSXV:LEM) (OTCQB:LEMIF) is pleased to announce the staking of a new lithium project in Sweden. The Rotmyran project lies 20km north of Bergby, where the Company recently announced (see press release dated 25th April, 2017) the discovery of high grade lithium mineralization in drilling.
Following the success of drilling at Bergby, Rotmyran was selected as a high priority target based on the geological similarity to Bergby plus presence of a strong tin (Sn) – lithium (Li) till anomaly in Swedish Geological Survey data. Rotmyran was held by the Swedish Government mining company LKAB during the 1980’s when pegmatite outcrops and boulders bearing the lithium mineral petalite, the tin mineral cassiterite and anomalous tantalum (Ta) was discovered. Such features are supportive of the presence of highly prospective LCT (lithium-cesium-tantalum) pegmatites, similar to those found at Bergby.
Blair Way, President and CEO, stated, “Following on from the success we have had in discovering high grade lithium mineralization at Bergby, we have been on the lookout for other equally prospective areas. Rotmyran shows many similar features to Bergby, and can be rapidly tested during the coming summer season. This project sits well within our strategy of acquiring low holding cost assets while we advance our graphite business model to supply the lithium Ion battery market.”
The Rotmyran project lies in central Sweden, 20km south of the town of Soderhamn, secured by one exploration license that covers a total of 1,019 Ha. The site is close to infrastructure, with major roads, rail and power supply passing immediately adjacent to the claim boundaries.
Europe is playing a leading role in the transition to low-carbon energy generation from renewable sources, and the efficient storage of that energy. Electric mobility (EV’s, HEV, PHEV’s) and stationary electricity storage are dependent on high purity graphite, lithium and cobalt, where Leading Edge Materials is an active European player. Lithium has a strong and expanding market, due to the essential role it plays in lithium-based batteries for the automotive, consumer product and stationary electrify storage industries. The high electrochemical potential of lithium results in the high power to weight ratio that is essential for efficient mobile batteries.
On behalf of the Board,
Blair Way, President & CEO
About Leading Edge Materials
Leading Edge Materials is a Canadian public company with principal assets in Scandinavia, a region well recognised 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 core investments are matched to high growth markets, linked to the global shift to low-carbon energy generation and energy storage.
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Forward-Looking Information. This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include but are not limited to, the Company’s expectations regarding the Rotmyran Project, the Company’s expectations regarding graphite production at Woxna, the Company’s preliminary economic assessment on Woxna is no longer current or valid as a result of the filing of a new NI 43-101 Technical Report effective March 24, 2015, and the Company has no plans to complete a new preliminary economic assessment, a pre-feasibility or feasibility study on the project, as such there is an increased risk of technical and economic failure for the Woxna graphite project; unexpected geological conditions; exploration activities to advance other critical material projects of the Company for energy storage markets, delays in obtaining or failure to obtain necessary permits and approvals from government authorities. Although such statements are based on management’s reasonable assumptions, there are risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.