SNET Discovers Rare Earth Mineralization on the Eldor Property
SAN DIEGO, CA- (Marketwired May 12, 2015) SourcingLink.net, Inc is full of pride to announce that anomalous / precious earth mineralization has been discovered on newly acquired claims by SNET. This undiscovered resource in Northern Quebec “Lac Le Moyne” property, is just adjacent to the goliath property of Commerce Resources (valued @ 2.32 billion). SNET’s property had similar radiation readings then Commerce Resources.. Within this property we have discovered new claims that were staked to cover a thorium equivalent radiometric anomaly (see map below).
For the last 5 years Commerce Resources has spent millions of dollars on the neighboring property. That being said, this territory has revealed that these anomalies are a good pathfinder for rare earth mineralization.
During a short reconnaissance program on the property last year, 14 grab samples were located and collected with the aid of a radiation detecting scintillo-meter. Two of the samples were found to be anomalous in rare earth metals (see table below).
Both samples are of an intrusive nature. The anomalous values in the elements contained in the chart above along with the high values in calcium and phosphorus indicate they may be derived from the Ashram carbonatite or a new carbonatite complex in the area.
“It is very encouraging to find rare earth mineralization on the property after such a short exploration program. We expect similar promising results with additional work next season” – Wayne Holmstead, Geologist.
We are very excited to be the next door neighbor of the Commerce Resources Ashram property. Their Preliminary Economic Assessment (PEA) reported a $2.32 billion resource with a NPV of 10%”. – Anne Carioti, CEO
The figure below shows equivalent thorium concentration from an airborne survey conducted by Commerce Resources in 2007. The mineralized zones are found to be associated with a high thorium equivalent (red to pink areas on the map). The new claims acquired by SNET cover part of a thorium equivalent anomaly where the mineralized samples 504954 and 504961 were found.
Future plans include a return to the property in summer of 2015 when the snow cover has melted (likely around June). The Ashram deposit exhibits anomalous radioactivity, therefore a ground radiometric survey and prospecting will be done in the previously reported vicinity for anomalous lake sediment survey samples and radiometric anomalies. Areas of anomalous radioactivity and sample locations above will be trenched and sampled.
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.