Sumary of Leading Edge Materials Announces Positive Preliminary Economic Assessment Results for its Norra Karr REE Project With US$1,026m Pre-tax NPV(10%) And 30.8% Pre-tax IRR:
- (“Leading Edge Materials” or the “Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) is pleased to announce the results of a Preliminary Economic Assessment study (“PEA” or the “Report”) for the development of its 100%-owned Norra Karr REE project located in Sweden (“Norra Karr” or the “Project”).
- Main PEA Highlights (In comparison to the 2015 PFS)Significant increase in resource utilization by proposing recovery of nepheline syenite (NS) industrial mineral, zirconium oxide (Zr) and niobium oxide (Nb) products in addition to the rare earth oxide (“REO”) products.
- Introducing a revised Project flowsheet to minimize the environmental footprint at the Norra Karr site: The Norra Karr site will only include mining and comminution methods consisting of crushing, milling and magnetic separation, eliminating all chemical processing from Norra Karr and associated waste vs the 2015 PFS study.
- In the PEA following physical separation resulting material streams either are shipped as products or as concentrates for further processing at other locations and a single waste stream to be stored at the Norra Karr site.
- The rare earth, zirconium and niobium bearing concentrate will be transported to a dedicated off-site location for chemical processing and further recovery.
- The combination of the above, results in a single waste stream at the Norra Karr site consisting of the mineral aegirine which can be dry stacked in a lined impoundment together with waste rock from mining, eliminating the need for a wet tailings storage facility.
- This new design substantially reduces land area usage of the Project by approximately 80% (see Figure 1) and results in no chemical process tailing dams being required at Norra Karr.
- These changes considerably reduce the environment risk profile of the Project at Norra Karr.