Update on Lac Fire Claims and Worldwide Demand
Lithium and tantalum are emerging as two critically important resources for 21st century technology
SAN DIEGO, CA–(Marketwired – Nov 21, 2016) – SourcingLink.net, Inc. (OTC PINK: SNET) is pleased the Lac Fire Property shares a 12 km boundary with the Rose Lithium Tantalum Property of Critical Elements Corp. Rose Lithium Tantalum deposit and was acquired to strategically cover ground that may be on strike and have similar geology to the Rose deposit.
The Lamothe lithium showing on the Lac Fire property appears to be the northeast extension of a number of lithium showings that extend from the Rose lithium deposit to the Lac Fire claim group.
Lithium and tantalum are emerging as two critically important resources for 21st century technology. Both materials are expected to see unprecedented demand in the near future.
In 2014, the battery-grade market represented 31 percent of the total global end-use market for lithium, while the ceramic and glass market accounted for 35 percent. Both of these markets have high entry barriers as end users expect high-purity, low-contaminant products.
Available supply for these markets has been limited due to recent mine closures that have left only one major low-iron spodumene source (the Greenbushes deposit in Australia). Analysts are forecasting a supply shortfall for battery-grade lithium while demand is expected to grow by 134 percent over the next five years.
About The SNET 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. The focus is on rare earth elements, important source materials for 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.