SourcingLink.net Signs Contractual Agreement With Geologist, Wayne Holmstead, to Conduct an Exploration Program on the Eldor Project


SourcingLink.net Signs Contractual Agreement With Geologist, Wayne Holmstead, to Conduct an Exploration Program on the Eldor Project

SourcingLink.net Inc. (PINKSHEETS: SNET) has signed a contractual agreement with consulting geologist, Wayne Holmstead, to conduct an exploration program on the Eldor Rare Earth Property Claims (Eldor Project). The geological exploration program includes significant prospecting, sampling and mapping followed by extensive analysis of rock and sediment samples collected during the program.

The initial purpose of the exploration project is threefold:

1) To investigate the high Rare Earth and Rare Earth indicator values in lake sediments on the property which were previously conducted in a 1984 survey by the Quebec Government.
2) To look for similar Rare Earth mineralization found by Commerce Resources whose property is contiguous to the east (adjoining property).
3) To investigate any other mineralization on the property that may be of economic interest.

Mr. Wayne Holmstead, Bachelor of Science, University of Toronto, Earth Science is an accomplished geologist with over 30 years experience, having previously worked with many Canadian (TSX) listed mining exploration companies including Windy Mountain Exploration and Western Troy Capital Resources. Mr. Holmstead has a significant amount of experience working with exploration mining projects in northern Quebec and is expected to begin the exploration program during September 2014.

Anne Carioti, CEO, commented, “We are very excited to have been able to engage a quality, experienced geologist such as Wayne to help us explore an area with significant potential for a new REE discovery.”

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%).

About The Eldor Project:

northern-quebec-12.jpgSourcingLink.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 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 with a focus on rare metals and rare earth elements which are among the primary input materials of technology in the 21st Century.

Visit the corporate website at: SourcingLink.org

For more information: finance.yahoo.com/news/sourcinglink-net-signs-contractual-agreement

Disclaimer/ Disclosure: The Investors News Magazine is a third party publisher of news and research as well as creates original content as a news source. Original content created by Investors News Magazine is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site may be compensated by featured companies for news submissions and content marketing. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s