SAN DIEGO, CA--(Marketwired - Apr 12, 2017) - SourcingLink.net (OTC PINK: SNET) is pleased to announce the option purchase agreement to acquire a new lithium property (Cyr South) in the James Bay area of Quebec. The property consists of 11 claim units (550 ha) and is located about 100 km northwest of Nemiscau. The property is road accessible.
In 1973, the Quebec Government mapped the vicinity of the new claims and located spodumene (lithium) bearing pegmatites about 5 km south of the Cyr James Bay Lithium Deposit. The Cyr James Bay Lithium Deposit is presently owned by Galaxy Resources and contains indicated resources of 11.75 million tonnes grading at 1.30% Li2O and inferred resources of 10.47mt grading at 1.20% Li2O.
Sales of lithium-ion batteries used for everything from electric cars to Apple iPhones to emergency power backup (for computers and communication and medical technologies) are expected to boom to $46 billion by 2022, according a recent report by Allied Market Research. They would mark a compound annual growth rate (2016 to 2022) of 10.8%.
Among companies that will benefit, according to Allied Market, are SourcingLink.net (SNET), an exploration and development company with a focus on lithium, tantalum, rare earth metals and rare earth elements. https://www.thestreet.com/story/14060363/1/here-are-the-biggest-winners-from-ford-and-apple-trying-to-dominate-the-future-of-technology.html
SNET plans to send an exploration in May of 2017 to locate the historical lithium bearing veins as well as identify additional mineralized veins.
About SourcingLink.net, Inc.
SourcingLink.net is a U.S. based publicly traded exploration and development company. Their focus is on rare metals and rare earth elements, which are among the primary input materials for the 21st Century technology.
About The Lac Fire Project:
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.
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. The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
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The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.