SNET Announces Start of Surface Exploration Program on Lac Fire Lithium Property
August 05 2016 - 8:30AM
InvestorsHub NewsWire
SAN DIEGO, CA -- August 5, 2016 -- InvestorsHub NewsWire
-- 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.
Forward-looking Statements
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.
Contact:
SourcingLink.net
12526 High Bluff Drive, Ste 300
San Diego, CA 92130
Phone +1-855-726-RARE (7273)
Website: http://www.sourcinglink.org
Email:info@sourcinglink.org