- Critical materials stock Leading Edge Materials (TSXV:LEM) has broken ground on a new exploration drilling program at its Bihor Sud project in Romania
- The company’s quest for a mineable resource is supported by positive exploration results to date
- Leading Edge Materials is developing a portfolio of critical raw materials projects in the European Union
- Shares of Leading Edge Materials have given back 34.38 per cent year-over-year, but only 19.23 per cent since 2019
Critical materials stock Leading Edge Materials (TSXV:LEM) has broken ground on a new exploration drilling program at its Bihor Sud project in Romania.
The company is keen on identifying a large-scale, economically extractable resource backed by positive exploration results to date, which offer “the strong potential for discovering significant polymetallic mineralized zones with evidence of extension of both strike and depth,” according to Wednesday’s news release.
Drilling will begin in gallery G7 focused on 400 metres of cobalt, nickel and gold mineralization and high-grade chip samples reported in late 2023 yielding up to 6.7 per cent cobalt, 13 per cent nickel and 7.5 grams per ton of gold. Exploration will then shift to the extensive gallery G2 and its high-grade zinc, lead, silver and copper zones, where 10 chip samples yielded a zinc equivalent average grade of 7.34 per cent.
Leading Edge Materials is also interested in the Dibarz gallery system located 120 m higher than G2, where zinc, lead, silver and copper mineralization similar to G2 has been observed, supporting a mineralized trend of at least 2.2 km between the two.
Today’s news follows delays because of the late arrival of the drill rig and final inspections for the operation’s health and safety protocols.
“While the delayed start to drilling has been frustrating, we’re excited to finally have our chief geologist on site and be diamond drilling,” Kurt Budge, Leading Edge Materials’ chief executive officer, said in a statement. “Ensuring the safety of our workforce remains our top priority. The company is focused on defining a large-scale, mineable mineral resource and making up for the lost time as efficiently as possible. We are excited to follow up on the work done in G7 last year and the extensive cobalt, nickel and gold-mineralized zone, before moving to G2, which has shown its potential for extensive zinc, lead, copper and silver mineralization.”
About Leading Edge Materials
Leading Edge Materials is developing a portfolio of critical raw materials projects in the European Union. Besides Bihor Sud, these include the Woxna graphite mine and Norra Karr heavy rare earth elements project, both in Sweden.
Leading Edge Materials (TSXV:LEM) last traded at C$0.10 per share. The stock has given back 34.38 per cent year-over-year, but only 19.23 per cent since 2019.
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(Top photo of a gallery at Leading Edge Materials’ Bihor Sud project in Romania: Leading Edge Materials)