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Leading Edge Materials applies for exploration licence in Romania

Leading Edge Materials applies for exploration licence in Romania

BUCHAREST (Romania), October 7 (SeeNews) - Canada's Leading Edge Materials (LEM) said it has submitted its first exploration licence application to Romania's Mineral Resources National Agency (ANMR).

The application covers the same area as the Bihor Sud prospecting permit in western Romania, and was applied for by LEM Resources SRL, the company's subsidiary in Romania, LEM said in a press release on Friday.

LEM Resources SRL is a joint venture company where Leading Edge Materials has the right to earn 90% ownership by achieving various project milestones.

The Bihor Sud exploration licence application covers 25 sq km in the Northern Apuseni Mountains of Transylvania. The area under application includes a substantial former mine that was closed in 1998.

"Leading Edge Materials have been active in Romania for a number of years, and through our work have put ourselves in the strongest possible position to be granted the exploration license within the coming weeks.  We look forward to sharing details of the application process and timelines over coming weeks," LEM interim CEO Mark Saxon said.

Application for an exploration licence in Romania is via a competitive tender, following on from public advertising of a pending area for bid.  In the current tender round, twenty-one exploration licenses were available for bid including the Bihor Sud licence, the company said.

LEM Romania is a branch of Leading Edge Materials and the owner of the 25.5 sq km Bihor Sud prospecting permit in central western Romania. 

Leading Edge Materials is a Canadian public company focused on production of high value critical raw materials for the European market.