LEADING EDGE
RECEIVES CONTINUED HIGH GRADE COBALT-NICKEL RESULTS FROM SYSTEMATIC
GALLERY CHIP SAMPLING, BIHOR SUD PROJECT, ROMANIA
- Sampling
exceeds high grade Co-Ni-Au mineralization within Gallery
G7
- Multiple
Co-Ni-Au-mineralized zones within a 400 m long section
- Highlights
include 6.7% Co, 13.0% Ni, 7.5 g/t Au with 33% exceeding 0.44% Ni
equivalent*
Vancouver, December 14, 2023 – Leading Edge Materials
Corp. (“Leading Edge Materials” or the
“Company”) (TSXV: LEM)
(Nasdaq First North: LEMSE) (OTCQB:
LEMIF) (FRA: 7FL) is pleased to announce
it has received further positive assay results for Co-Ni-Au from
Gallery 7. This second batch of 104 samples prolongate the zone of
Co-Ni-Au-occurrences by about 250 m to a total length of roughly
400 m NNW-SSE, and constitute the central-southern part of G7 at
the Bihor Sud project in Romania.
Eric Krafft, Chief Executive Officer states: “We are very
excited to see that our new assays demonstrate persistence of
Co-Ni-Au-mineralization into G7, opening further, previously
unknown potential. In combination with our mapping results, clearly
outlining the structural context and strike/dip directions of
mineralized zones, these findings yield immediate drill targets.
The Company has therefore decided to skip channel sampling of these
zones but proceed directly to an underground drill program.”
Co-Ni-Au in Gallery 7 Observed Co-Ni-mineralization extends a
considerable distance and will add to the overall strike length of
the total mineralized G7 segment. The structurally controlled
mineralized zones are commonly traced on the gallery walls over few
metres to few tens of metres and are on the order of 20-80 cm thick
but may occur in a stacked manner with barren material in between.
Mineralization occurs on the foliation of schists, on the cleavage
in schists, and on faults. A total of 104 chip samples were
collected from G7 (see Table 1), and extends the sampling and assay
results reported on October 25, 2023.
Chip samples mostly of 0.5-2 kg, were collected from mineralized
zones identified visually on mapping and by handheld XRF. Exposed
mineralization was sampled at a spacing of approximately 1 metre
along strike to understand the extent of mineralized zones on the
gallery walls in preparation of a follow-up drilling campaign. All
Co-Ni-Au results available to date are displayed schematically on
the gallery plan in Fig. 2.
*Nickel equivalent grades are based on the following metal
prices; gold 1978 US$/oz, cobalt 33,420 US$/t, nickel 18,000
US$/t.
Figure 1: License overview map showing the location of the
Gallery 7. The extent of galleries is only schematically given.
Sample preparation and gold assays were performed by ALS
Romania; assays for all other elements were performed by ALS
Geochemistry in Ireland (Loughrea). The QP has reviewed the QA/QC
data including sample handling, security and analytical procedure,
and has no doubt that the reported results were obtained to best
industry practices. Samples were chipped from marked places at the
gallery walls, immediately bagged, the bags solidly closed and
locked away so that no manipulation could occur. At the laboratory,
samples were dried, crushed to 70 % passing -2mm, and a 250 g split
was pulverized to +85 % passing 75 µm. Samples were analyzed for
gold by fire assay of a 30 g subsample with an AAS finish, and for
33 elements with four acid digestion and ICP-MS finish. Standard,
blank, and duplicate results suggest that the reported data is
accurate.
Figure 2: G7 chip sample results to date.
Table 1: Chip assay results from mineralized exposures along a
250 m segment in Gallery 7, spaced approximately 1 metre apart in
individual exposures (Ni-equivalent: normal font <0.44%, italics
0.44-1.7%, bold >1.7-8%, bold italics >8%).
Sample
Number |
Gold g/t |
Cobalt % |
Nickel % |
|
Sample Number |
Gold g/t |
Cobalt % |
Nickel % |
VLG07C105 |
0.01 |
0.07 |
0.14 |
|
VLG07C157 |
0.005 |
0.02 |
0.00 |
VLG07C106 |
2.6 |
0.47 |
3.37 |
|
VLG07C158 |
0.01 |
0.03 |
0.00 |
VLG07C107 |
3.3 |
0.45 |
8.98 |
|
VLG07C159 |
0.01 |
0.07 |
0.01 |
VLG07C108 |
2.67 |
0.33 |
4.55 |
|
VLG07C160 |
0.005 |
0.10 |
0.02 |
VLG07C109 |
1.01 |
0.36 |
2.98 |
|
VLG07C161 |
0.01 |
0.05 |
0.01 |
VLG07C110 |
1.78 |
0.26 |
2.29 |
|
VLG07C162 |
0.005 |
0.03 |
0.01 |
VLG07C111 |
0.08 |
0.08 |
0.04 |
|
VLG07C163 |
0.01 |
0.05 |
0.01 |
VLG07C112 |
0.32 |
1.28 |
0.27 |
|
VLG07C164 |
0.01 |
0.03 |
0.01 |
VLG07C113 |
0.03 |
0.21 |
0.09 |
|
VLG07C165 |
0.01 |
0.10 |
0.03 |
VLG07C114 |
0.05 |
0.27 |
0.08 |
|
VLG07C166 |
0.005 |
0.02 |
0.00 |
VLG07C115 |
7.47 |
1.04 |
2.09 |
|
VLG07C167 |
0.005 |
0.01 |
0.00 |
VLG07C116 |
2.98 |
0.42 |
7.24 |
|
VLG07C168 |
0.005 |
0.04 |
0.01 |
VLG07C117 |
0.02 |
0.10 |
0.06 |
|
VLG07C169 |
0.005 |
0.04 |
0.02 |
VLG07C118 |
0.03 |
0.12 |
0.39 |
|
VLG07C170 |
0.01 |
0.22 |
0.10 |
VLG07C119 |
0.19 |
2.47 |
0.75 |
|
VLG07C171 |
0.02 |
0.12 |
0.06 |
VLG07C120 |
0.01 |
0.04 |
0.02 |
|
VLG07C172 |
0.03 |
0.26 |
0.14 |
VLG07C121 |
0.01 |
0.07 |
0.11 |
|
VLG07C173 |
0.02 |
0.19 |
0.06 |
VLG07C122 |
0.13 |
0.26 |
0.19 |
|
VLG07C174 |
0.005 |
0.03 |
0.01 |
VLG07C123 |
0.01 |
0.16 |
0.09 |
|
VLG07C175 |
0.02 |
0.84 |
0.58 |
VLG07C124 |
0.02 |
0.08 |
0.17 |
|
VLG07C176 |
0.02 |
0.54 |
0.29 |
VLG07C125 |
0.005 |
0.02 |
0.01 |
|
VLG07C177 |
0.005 |
0.38 |
0.20 |
VLG07C126 |
0.02 |
0.02 |
0.01 |
|
VLG07C178 |
0.005 |
0.04 |
0.04 |
VLG07C127 |
0.45 |
0.43 |
1.33 |
|
VLG07C179 |
0.005 |
0.00 |
0.00 |
VLG07C128 |
0.02 |
0.19 |
0.28 |
|
VLG07C180 |
0.005 |
0.00 |
0.00 |
VLG07C129 |
0.03 |
0.03 |
0.03 |
|
VLG07C181 |
0.005 |
0.00 |
0.00 |
VLG07C130 |
0.01 |
0.05 |
0.02 |
|
VLG07C182 |
0.005 |
0.00 |
0.00 |
VLG07C131 |
0.01 |
0.31 |
0.06 |
|
VLG07C183 |
0.005 |
0.00 |
0.00 |
VLG07C132 |
0.005 |
0.01 |
0.01 |
|
VLG07C184 |
0.005 |
0.00 |
0.00 |
VLG07C133 |
0.005 |
0.01 |
0.00 |
|
VLG07C185 |
0.005 |
0.00 |
0.00 |
VLG07C134 |
0.005 |
0.00 |
0.01 |
|
VLG07C186 |
0.01 |
0.00 |
0.00 |
VLG07C135 |
0.17 |
1.83 |
8.03 |
|
VLG07C187 |
0.005 |
0.00 |
0.00 |
VLG07C136 |
0.03 |
0.04 |
1.30 |
|
VLG07C188 |
0.005 |
0.00 |
0.00 |
VLG07C137 |
0.005 |
0.02 |
0.02 |
|
VLG07C189 |
0.005 |
0.00 |
0.00 |
VLG07C138 |
0.005 |
0.08 |
0.08 |
|
VLG07C190 |
0.01 |
0.00 |
0.00 |
VLG07C139 |
0.65 |
0.10 |
5.20 |
|
VLG07C191 |
0.005 |
0.00 |
0.00 |
VLG07C140 |
0.01 |
0.10 |
0.06 |
|
VLG07C192 |
0.005 |
0.00 |
0.00 |
VLG07C141 |
0.01 |
0.08 |
0.12 |
|
VLG07C193 |
0.005 |
0.00 |
0.00 |
VLG07C142 |
0.04 |
0.14 |
1.62 |
|
VLG07C194 |
0.01 |
0.01 |
0.01 |
VLG07C143 |
0.05 |
0.07 |
1.00 |
|
VLG07C195 |
1.16 |
0.20 |
0.08 |
VLG07C144 |
0.04 |
0.32 |
1.77 |
|
VLG07C196 |
0.02 |
0.04 |
0.46 |
VLG07C145 |
0.005 |
0.13 |
0.07 |
|
VLG07C197 |
0.29 |
0.50 |
0.88 |
VLG07C146 |
0.005 |
0.04 |
0.04 |
|
VLG07C198 |
0.04 |
0.19 |
0.18 |
VLG07C147 |
0.01 |
0.08 |
0.06 |
|
VLG07C199 |
0.005 |
0.03 |
0.02 |
VLG07C148 |
0.02 |
0.08 |
0.03 |
|
VLG07C200 |
0.005 |
0.00 |
0.01 |
VLG07C149 |
0.005 |
0.02 |
0.02 |
|
VLG07C201 |
0.06 |
6.27 |
13.00 |
VLG07C150 |
0.38 |
0.13 |
10.70 |
|
VLG07C202 |
0.005 |
0.15 |
0.27 |
VLG07C151 |
0.005 |
0.02 |
0.02 |
|
VLG07C203 |
0.005 |
0.01 |
0.01 |
VLG07C152 |
0.01 |
0.14 |
0.04 |
|
VLG07C204 |
0.03 |
0.01 |
0.02 |
VLG07C153 |
0.005 |
0.01 |
0.01 |
|
VLG07C205 |
0.01 |
0.01 |
0.02 |
VLG07C154 |
0.02 |
0.19 |
0.07 |
|
VLG07C206 |
0.01 |
0.00 |
0.01 |
VLG07C155 |
0.005 |
0.13 |
0.07 |
|
VLG07C207 |
0.01 |
0.00 |
0.01 |
VLG07C156 |
0.01 |
0.03 |
0.01 |
|
VLG07C208 |
0.01 |
0.01 |
0.01 |
Qualified Person
The scientific and technical information in this release has
been reviewed, verified, and approved by, a Martin S. Oczlon, PhD
Geol, CEngMIMMM, a consultant to Leading Edge Material and
Qualified Person as defined in Canadian National Instrument 43-101
“Standards of Disclosure for Mineral Projects" (“NI 43-101”).
The QP has reviewed and verified the QA/QC data including sample
handling, security and analytical procedure, and has no doubt the
reported results have been obtained by the laboratory to best
industry practices.
Sample preparation and gold assays were performed by ALS
Romania; assays for all other elements were performed by ALS
Geochemistry in Ireland (Loughrea).
On behalf of the Board of
Directors,Leading Edge Materials
Corp.
Eric Krafft, CEO
For further information, please contact the Company
at:info@leadingedgematerials.com
www.leadingedgematerials.com
Follow usTwitter:
https://twitter.com/LeadingEdgeMtlsLinkedin:
https://www.linkedin.com/company/leading-edge-materials-corp/
About Leading Edge MaterialsLeading Edge
Materials is a Canadian public company focused on developing a
portfolio of critical raw material projects located in the European
Union. Critical raw materials are determined as such by the
European Union based on their economic importance and supply risk.
They are directly linked to high growth technologies such as
batteries for electromobility and energy storage and permanent
magnets for electric motors and wind power that underpin the clean
energy transition towards climate neutrality. The portfolio of
projects includes the 100% owned Woxna Graphite mine (Sweden),
Norra Karr HREE project (Sweden) and the 51% owned Bihor Sud Nickel
Cobalt exploration alliance (Romania).
Additional Information
The information was submitted for publication through the agency
of the contact person set out above, on December 14, 2023, at 1:00
PM Vancouver time.
Leading Edge Materials is listed on the TSXV under the symbol
“LEM”, OTCQB under the symbol “LEMIF” and Nasdaq First North
Stockholm under the symbol "LEMSE". Mangold Fondkommission AB is
the Company’s Certified Adviser on Nasdaq First North and may be
contacted via email CA@mangold.se or by phone +46 (0) 8 5030
1550.
Reader Advisory
This news release may contain statements which constitute
“forward-looking information” under applicable Canadian securities
laws, including statements regarding 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 information. Investors
are cautioned that any such forward-looking information is not a
guarantee of future business activities and involves risks and
uncertainties, and that the Company’s future business activities
may differ materially from those in the forward-looking information
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.
- 202312_LEM Announces Further Co-Ni-Au Results from Gallery
7_Martin Draft_DM_MO edit(2)
- Figure 1
- Figure 2
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