SAN DIEGO, April 1, 2016 /PRNewswire/ --
SourcingLink.net Inc. (OTC Pink: SNET) is pleased to announce that it has acquired a block of 8 new claims sharing a 12 km boundary which is on three sides with the Rose Lithium Tantalum Property of Critical Elements Corp.
The Rose Resource pre-tax IRR is estimated at 33% and the NPV at $488 million at a discount rate of 8%.(Critical Elements Corp website: http://www.cecorp.ca/en/) and Rose Resource consists of 26,500,000 tonnes of indicated resources containing 1.30% Li2O Equivalent (Eq) or 0.98% Li2O (259,700 tonnes of Li2O or 642,238 tonnes of Li2CO3 Eq), 163 ppm of Ta2O5 (9,514,317 pounds of Ta2O5) and 10,700,000 tonnes of inferred resources containing 1.14% Li2O Equivalent (Eq) or 0.86% Li2O (92,020 tonnes of Li2O or 227,565 tonnes of Li2CO3 Eq), 145 ppm Ta2O5 (3,417,400 pounds of Ta2O5).
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 newly staked lithium claims are a great addition to our portfolio. The demand for lithium in the global market is increasing due to the demand for lithium batteries used in a variety of green based applications including electric powered automobiles. The acquisition of the Lac Fire property will provide an excellent target in the company's search for a lithium resource," Anne M Carioti, CEO
About The Eldor Project:
SourcingLink.net, Inc. 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.