LEADING EDGE IDENITIFIES EXTENSIVE NICKEL AND COBALT IN HISTORIC GALLERIES

LEADING EDGE IDENITIFIES EXTENSIVE NICKEL AND COBALT IN HISTORIC GALLERIES

– Preliminary two historic exploration galleries opened forward of schedule

– Preliminary visible inspection highlighted nickel and cobalt mineralization over 100 meters

– Area mapping signifies 11 galleries and mineralization all through the license space

Vancouver, January 23, 2023 – Main Edge Supplies Corp. (“Main Edge Supplies” or the “Firm”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) is happy to announce that it’s forward of schedule in exploration of its unique and 100% owned Bihor Sud license within the Apuseni Mountains of central-western Romania.

Eric Krafft, Interim CEO of the Firm, states: “We’re extraordinarily happy with the speedy work progress to this point and the help we’re receiving from the concerned state organizations and our Romanian JV-partner Remat. Amongstst all individuals on this exploration program, there’s rising pleasure fueled by the findings within the first reopened gallery. Following preliminary sampling, the Firm will goal underground and floor drilling to determine the extent of mineralized buildings. There are no less than 11 galleries accessing totally different mineralized buildings, so there are already different recognized exploration targets. Additional drill targets are recognized by our mapping and geophysical program, including vital potential for mineralization past no matter is encountered in these preliminary two galleries.”

Earlier mining within the license space for commodities aside from cobalt and nickel left behind an unlimited community of galleries opening tens of kilometers of underground publicity. Verbal studies from miners working in these galleries as much as 1997, in addition to quite a few samples retrieved from gallery waste dumps, point out vital Co-Ni mineralization left in place starting from disseminated, percent-grade Co-Ni in darkish schist to very high-grade stringers, veins, and pods.

The Firm’s prime goal to reopen and discover the previous galleries, kinds a part of the Yr 2 license work program established with the Romanian Nationwide Company of Mineral Assets (NAMR). Yr 1 (ending Might, 2023) foresees mainly geophysical and mapping work, which has all been accomplished already with promising outcomes.

Following receipt of the suitable regulatory environmental and security approvals, the Firm has commenced the method of reopening of Galleries G2, G4, and G7. Galleries G4 and G7 (see Determine 1) have now been opened and made protected for graduation of deliberate exploration works. The “waste” dump located exterior the doorway of G7 has confirmed most prolific for retrieval of Co-Ni mineralized rocks, and a boulder with very high-grade, vein-style Co-Ni-sulphides was just lately recovered from the G2 “waste” dump. G4 options Zn-Cu-Pb-Ag mineralization.

Determine 1; License overview map displaying the principal gallery mouth areas; these at present reopened are highlighted in black (G2, G4, G7). Geophysical work consists primarily of IP (induced potential) and NP (pure potential) sections of 500 and 2000 m size. A floor magnetic survey overlaying these sections and G4+G7 has already been carried out by the Company in 2018.

The primary reopened gallery is G7, which was inspected on January 18, 2023 by the Romanian state authority INSEMEX, accountable for mine security issues and respective allowing. The gallery is in an excellent state, which allowed the Firm and its consultants to enter behind INSEMEX, in order that the current mineralization might be noticed and documented.

Determine 2: INSEMEX examineion group at reopened Gallery 7.

Observations in G7 spotlight Co-Ni mineralization initially 425 m from the mouth of G7 and was noticed till 560 m, the top of the present survey. Reconnaissance work past 560 m will proceed as soon as this part of the gallery is said protected for entry. Attributable to 30 years of publicity on the gallery partitions, the unique Co-Ni-minerals had been oxidized, simply detectable by their typical pink (Co) and inexperienced (Ni) colors.

Disseminated mineralization follows low-dipping foliation in graphitic schists, and in usually foliation-parallel high-grade veinlets, accompanied by quartz and carbonate stringers. The thickness of mineralized zones ranges from about 0.5 m to doubtlessly thicker than 2 m, restricted by the peak of the gallery.   The 135m mineralized sector ( 425m to 560 m) has quite a few niches and one parallel gallery, the place Co-Ni mineralization is uncovered in a number of zones following the final NNW-SSE structural development. A second heart of Co-Ni mineralization was recognized in an east-directed cross-cut in direction of G4. The intersected vein-style and disseminated Co-Ni-zone within the cross reduce seems to run parallel to the mineralization noticed in G7, however is situated about 400 m away. This prevalence was not adopted up within the historic works and stays to be outlined in its full extent alongside strike.

Determine 5: Powdery, pinkish cobalt oxide mineral on foliation in graphitic schist. Individual Co-oxide mineral grains are about 1 mm throughout.

Determine 6: Pinkish cobalt oxide mineral weathering from schists. Hammer for scale.

Determine 7 (Left): Piece of a Co-Ni-vein found 525 m from the branching level in the cross-cut from G7 in direction of G4. Picture width: 10 cm.
Determine 8 (Proper): Hand-held XRF studying on this pattern: 4.76 % Co, 20.17 % Ni.

The reader is cautioned that such measurements cowl solely the floor of a rock with an space on the order of 1 cm² and are neither consultant, nor do they point out dependable mineralization grades. Within the context of the work carried out right here, this XRF-reading has the only real goal of demonstrating the presence of cobalt and nickel within the encountered mineralization.

Joint Enterprise Background

In 2018 the Firm entered right into a share buy settlement (the “SPA”) with a neighborhood Romanian arm’s size get together, Remat, to amass an preliminary 51% curiosity in LEMR which was the holder of a prospecting allow overlaying the License perimeter. The Firm, Remat and LEMR additionally entered right into a shareholder three way partnership settlement (the “JV Settlement”) as introduced on August 9, 2018 (see news release). Pursuant to the JV Settlement, Main Edge Supplies shall be transferred an extra 39% possession curiosity in LEMR (for an mixture 90% possession) triggered by the submitting on SEDAR of a constructive Feasibility Research technical report. Underneath the JV Settlement Main Edge Supplies has agreed to subject frequent shares within the Firm upon reaching sure milestones on the Venture, such because the granting of an exploration license, exploitation license, documentation of historic mineral useful resource estimates assembly sure Ni-Co and/or Ag-base steel useful resource tonnage thresholds, the submitting of a NI43-101 compliant technical report, such a report assembly sure Ni-Co and/or Ag-base steel useful resource tonnages, and the submitting of a constructive NI43-101 compliant Feasibility Research.

Qualified Person

Martin S. Oczlon, PhD Geol, CEngMIMMM, a advisor to Main Edge Materials and Certified Individual, as outlined in NI 43-101, has reviewed and verified the technical content material on this press launch.

On behalf of the Board of Administrators,
Main Edge Supplies Corp.

Eric Krafft, Interim CEO

For additional info, please contact the Firm at:
[email protected]
www.leadingedgematerials.com

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About Main Edge Supplies
Main Edge Supplies is a Canadian public firm centered on creating a portfolio of crucial uncooked materials initiatives situated within the European Union. Important uncooked supplies are decided as such by the European Union based mostly on their financial significance and provide threat. They’re straight linked to excessive development applied sciences comparable to batteries for electromobility and vitality storage and everlasting magnets for electrical motors and wind energy that underpin the clear vitality transition in direction of local weather neutrality. The portfolio of initiatives consists of the 100% owned Woxna Graphite mine (Sweden), Norra Karr HREE venture (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).

Extra Info

The knowledge was submitted for publication by way of the company of the contact particular person set out above, on January 23, 2023 at 7:00 am Vancouver time.

Main Edge Supplies is listed on the TSXV underneath the image “LEM”, OTCQB underneath the image “LEMIF” and Nasdaq First North Stockholm underneath the image “LEMSE”. Mangold Fondkommission AB is the Firm’s Licensed Adviser on Nasdaq First North and could also be contacted through e mail [email protected] or by telephone +46 (0) 8 5030 1550.

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