SAN DIEGO, June 29, 2016 /PRNewswire/ --
SourcingLink.net Inc. (OTC Pink: SNET) The Lac Fire Lithium property encompasses 6.4km2. During 2011 the previous claim holders completed a total of 20 diamond drill holes totaling 3,051m which included the following results.
-1.22% Li2O and 134.8 ppm Ta2O5 over 3.11 meters
-1.19% Li2O and 97.2 ppm Ta2O5 over 2.03 meters
The Lac Fire Property contains the same favorable geology and similar values in lithium and tantalum as the neighboring Rose Property owned by Critical Elements Corp. Grades on the Lac Fire property of 1.06% Li2O on surface and 1.19 to 1.22% Li2O (97.2 to 134.8 ppm Ta2O5) in drill holes are comparable to average grades on the Rose deposit of 0.98% Li2O and 163 ppm Ta2O5. The Rose lithium deposit has a Net Present Value of $488 million (before taxes) (Critical Elements Corp, Preliminary Economic Assessment). The Lac Fire property falls on the same trend as the Rose lithium deposit as well as several other promising lithium occurrences.
"Quebec has been rated by the Fraser Institute as one of the most favorable mining jurisdictions in the world. Exploration dollars spent in Quebec are eligible for a rebate in excess of 40% of property expenditures from the Quebec Government. This allows exploration dollars spent on Quebec properties to be reinvested back into the project to give investors better value for their investment dollar. In addition, $1.00US is equivalent to approximately $1.30CAN providing additional value for American dollars spent on Canadian exploration." Geologist, Wayne Holmstead
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.