SAN DIEGO, California, October 15, 2015 /PRNewswire/ --
SourcingLink.net, Inc. (OTC Pink: SNET)
Further to the press release published on October 13, 2015 SourcingLink.net (SNET) is pleased to announce that the most recent exploration program at the Eldor Property and vicinity has resulted in the discovery of a new carbonatite occurrence with anomalous rare earth metal values. The new occurrence is bordering on the claims of Commerce Resources who have completed a positive Preliminary Economic Assessment on the Eldor Rare Earth Project. The project is located about 130 kilometers south of Kuujjuaq, Quebec.
Two samples taken 30 meters apart were analyzed and found to contain 25.2 and 26.8% calcium and 11,800 and 38,300 ppm phosphorus. In addition the samples were found to contain anomalous rare earth and rare earth indicator elements listed in the table below.
Ca Ce La Mo P Sr Th U Y Sample % ppm ppm ppm ppm ppm ppm ppm ppm E504860 26.8 1370 686 26.7 38300 1930 59 <5 148 E504861 25.2 234 111 23.2 11800 1450 <5 14 105
Subsequent to the find, an application for a total of 11 claims was made to cover the prospective ground for a total of 518 hectares.
Additional analyses have been ordered and will be further studied to understand the nature of the carbonatite and where additional mineralization may be located.
SNET is very excited to have found a new carbonatite occurrence in the area since carbonatite occurrences are not easily found in the field due to their relatively soft mineral composition that is easily weathered over time. Of the 187,000+ surface samples collected by the Quebec Government and companies doing work in the province, only 211 (0.1%) have been classified as carbonatite.
SNET plans to return to the area in the Spring of 2016 to further evaluate the rare earth potential of the newly acquired claims.
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 45 mineral claims covering approximately 5232 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.
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SOURCE SourcingLink.net, Inc.