SAN DIEGO, August 4, 2016 /PRNewswire/ --
SourcingLink.net Inc. (OTC Pink:SNET) SNET is pleased to announce the beginning of a surface exploration program in September on the Lac Fire lithium property located in James Bay Quebec. The Lac fire property is located adjacent to Critical Elements' Rose Tantalum-Lithium Property, which has a 43-101 compliant resource (26.5 Mt+ at 1.30% Li2O eq. indicated and 10.7 Mt+ at 1.14% Li2O eq. The Lac Fire property is surrounded on three sides by claims held by Critical Elements and is completely surrounded by additional staking by third parties.
From 2010 to 2011 the property was worked by the previous claim holders. At this time, the Lamothe lithium showing was discovered. The Lamothe showing consists of several NW-SE trending surface occurrences of spodumene-bearing granitic intrusives or pegmatites that were uncovered within a 300 metres by 200 metres area. The main spodumene bearing intrusive is at least 10 meters wide at surface and has been uncovered over 25 meters length. The other intrusives run parallel and they all tend to be sub-horizontal. There was also a significant spodumene bearing angular boulder field associated with the discovery trending further to the south possibly indicating additional spodumene-bearing intrusives. The average grade of the 19 grab samples from the Lamothe Showing was 1.06% Li2O, 1,441 g/t Rubidium, 75 g/t Tantalum and 72 g/t Gallium.
A total of 9 diamond drill holes were drilled to intersect a 300 meter segment of the Lamothe Showing. It was found to consist of a series of metric-wide pegmatite dykes located within a transition corridor between a syenite-pyroxenite intrusive body to the north and a mixed unit of granitic gneisses, granites and amphibolites to the south. The zone extends in NW-SE direction for 300 meters surface length and 50 meters surface width, to a drilled depth of 50 meters, and remains open in all directions. The estimated spodumene content of the pegmatites of the Lamothe Showing ranges from 3 to 10%. Significant drill intersections included:
1.22% Li2O and 134.8 g/t Ta2O5 over 3.11 meters
1.19% Li2O and 97.2 g/t Ta2O5 over 2.03 meters
Critical Elements claims immediately to the west of the Lac Fire property contain the following showings:
Helico South Showing (surface channel sample yielded 0.44% Li2O, 3,565 g/t Rubidium, 187 g/t Gallium and 196 g/t Tantalum over 116 meters) some 500 meters to the northwest.
About The Eldor and Lac Fire Projects:
SourcingLink.net, Inc. acquired 8 new lithium-tantalum claims in James Bay, Quebec, Canada. The block of 8 new claims share a 12 km boundary which is on three sides with the Rose Lithium Tantalum Property of Critical Elements Corp. The new Lac Fire property was staked to strategically cover ground that may be on strike and have similar geology to the Rose Lithium Tantalum Resource.
The company has signed an agreement to acquire 100% interest in the Eldor Rare Earth Property Claims (The Eldor Project) located in Northern Quebec, Canada (one of the most favorable mining jurisdictions in the world). The Eldor Project consists of 34 mineral claims covering approximately 3951 acres and is located in Northern Quebec which is considered one of the most favorable mining jurisdictions in the world.
About SourcingLink.net, Inc.:
SourcingLink.net is a U.S. based publicly traded exploration and development company. Their focus in on rare metals and rare earth elements which are among the primary input materials for the 21st Century technology.
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as "expect," "believe" or "plan," by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
SOURCE SourcingLink.net, Inc.