Leading Edge to test rare-earth recovery at Norra Karr

Executive Summary

• Leading Edge Materials Corp. (via its subsidiary Greenna Mineral AB) has signed a Memorandum of Understanding (MoU) with Ascension Earth Resources to collaborate on recovering heavy rare-earth elements (HREE) from the Norra Karr eudialyte mineralization in Sweden.
• The collaboration involves an evaluation project where Ascension will conduct laboratory analysis and processing testwork using its proprietary technology to assess the technical and commercial feasibility of HREE extraction.
• If the evaluation is successful, both parties intend to negotiate in good faith toward a definitive agreement for a larger-scale pilot project.

Key Details

• Parties Involved: Leading Edge Materials Corp. (via 100%-owned subsidiary Greenna Mineral AB) and Ascension Earth Resources (a University of Oxford spinout).
• Asset: Norra Karr deposit (Sweden), specifically focusing on eudialyte mineralization.
• Objective: To assess innovative recovery methods for heavy rare-earth elements (HREE) and determine technical/commercial feasibility.
• Evaluation Project Scope:
  • Conduct detailed analysis of eudialyte samples (composition, purity, recovery potential).
  • Test leach behavior and assess suitability for commercial-scale processing.
  • Develop preliminary processing concepts tailored to Norra Karr.
  • Evaluate commercial viability of rare earth extraction.
• Future Steps: Contingent on successful evaluation outcomes, both parties will negotiate a definitive collaboration agreement for a larger-scale pilot project.
• Context: Leading Edge already possesses a 2015 Preliminary Feasibility Study (PFS) flowsheet for producing mixed rare-earth oxide but seeks to maximize HREE recovery using Ascension's innovative methods.

Notable Quotes

• Kurt Budge, CEO, Leading Edge Materials: "This partnership represents an important step forward in advancing the Norra Karr HREE project. By combining our world-class resource with Ascension's innovative processing technology, we aim to unlock new possibilities for sustainable heavy rare-earth production in Europe."
• Motoaki Sumi, CEO, Ascension Earth Resources: "Norra Karr is a strategically significant European rare-earth resource with important implications for the development of a resilient European supply chain for critical minerals. Through this collaboration, we aim to advance efficient and environmentally responsible approaches to critical mineral recovery..."