SAN DIEGO, CA--(Marketwired - Aug 20, 2014) - SourcingLink.net Inc. (PINKSHEETS: SNET) is updating shareholders and the market pertaining to its expected plans to initiate a near term geological exploration and reconnaissance program on Eldor Rare Earth Property Claims ( Eldor Project ) in attempts to identify specific drill targets. The expected geological exploration program includes significant prospecting, sampling and mapping followed by extensive analysis of assay results from samples. The Eldor Project located in Northern Quebec, Canada adjoins the west boundary of Commerce Resources' Ashram Project. The neighboring property, Ashram project, currently has a Preliminary Economic Assessment (PEA) with a Net Present Value (NPV) at a 10% discount rate of $2.32 billion, (a pre-tax/pre-finance Internal Rate of Return (IRR) of 44%).
Anne Carioti, CEO, commented, "We are excited that we are making progress and that we are now moving forward and have plans to explore an area that we feel has tremendous upside potential for new REE discovery."
As referred to in previous news release (on Sept. 25, 2013 click here) SourcingLink.net, Inc. obtained the analytical data of 2 samples of lake bottom sediments taken from an area within its current property as part of a major regional Quebec government-sponsored 1984 survey that produced outstanding values of the rare earth element (REE) Lanthanum (La) as well as anomalously high Cerium (Ce) and Yttrium (Y) values. The 2 lanthanum values are the highest values returned from 627 lake bottom sediment samples obtained from an area of over 1640 square kilometers (630 square miles).
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. The Eldor Project consists of 21 mineral claims covering approximately 2438 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 with a focus on rare metals and rare earth elements which are among the primary input materials of technology in the 21st Century.
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.