Commerce Resources Corp. Intersects 176.43 metres of Middle and Heavy Rare Earth Element Enrichment from Surface at the Ashram Deposit, Northern Quebec
VANCOUVER, Dec. 14, 2011 /PRNewswire/ – Commerce Resources Corp. (TSXv: CCE), (FSE: D7H), (OTCQX: CMRZF) (the “Company” or “Commerce”)
is pleased to report the results for an additional five drill holes
completed during the summer/fall exploration program at the Ashram Rare
Earth Element (“REE”) Deposit, at the Eldor Project in northern Quebec.
Of the results, two holes have significantly expanded the Middle and
Heavy Rare Earth Oxide (“MHREO”) zone at depth; increasing it to more
than 175 metres from surface. Highlights are as follows:
-- Drill Hole EC11-075: 104.19 metres of 12.7% MHREO at 1.54%
Total Rare Earth Oxides ("TREO")
-- Drill Hole EC11-076A: 176.43 metres of 12.3% MHREO at 1.56%
TREO,
o Including 48.91 m of 14.2% MHREO at 1.46% TREO
o Including 38.71 m of 11.7% MHREO at 2.03% TREO
In addition, the summer/fall program has continued to return consistent
and strong REE mineralization continuing to the north with grades
greater than that of the initial NI43-101 resource estimate (1.74%).Â
Several lengthy intersections also lie outside of the area of the
initial resource estimate. Highlights are as follows:
-- Drill Hole EC11-078A: 136.48 metres of 2.21% TREO
-- Drill Hole EC11-077: 64.18 metres of 1.96% TREO
-- Drill Hole EC11-082: 321.76 metres of 2.05% TREO
* Drill holes EC11-077 and 078A are located outside the area used for
the initial 43-101 resource estimate while EC11-082 was collared
approximately 35 m within.
The rare earth mineralized footprint at Ashram extends approximately 700
metres along strike, over 500 metres across, and to depths exceeding
600 metres. Mineralization remains open to the north, south, at depth,
and is not fully constrained to the west and east.
A map showing the drill hole locations and detailed analytical results
will be posted on the Company’s website at:Â http://www.commerceresources.com/s/Eldor.asp
Complete results are as follows:
___________________________________________________________________
|Strike/Dip| | From | To |Interval|TREO|MHREO| Neodymium |
| (æ) |Drill Hole| (m) | (m) | (m) |(%) |(% of| Oxide |
| | | | | | |TREO)|(% of TREO)|
|__________|__________|______|______|________|____|_____|___________|
| 230/45 | EC11-075 | 4.85 |191.13| 186.28 |1.77| 9.2 | 17.4 |
|__________|__________|______|______|________|____|_____|___________|
| | incl. |129.71|186.10| 56.39 |2.20| 5.6 | 15.4 |
|__________|__________|______|______|________|____|_____|___________|
| | | | | | | | |
|__________|__________|______|______|________|____|_____|___________|
| | MHREO | 4.85 |109.04| 104.19 |1.54|12.7 | 19.1 |
|__________| Zone |______|______|________|____|_____|___________|
| | | 7.68 |23.20 | 15.52 |1.15|15.4 | 23.9 |
|__________| |______|______|________|____|_____|___________|
| | |44.40 |66.02 | 21.62 |1.36|14.4 | 21.7 |
|__________|__________|______|______|________|____|_____|___________|
| | | | | | | | |
|__________|__________|______|______|________|____|_____|___________|
| 0/90 |EC11-076A | 2.19 |385.22| 383.03 |1.56| 8.9 | 17.5 |
|__________|__________|______|______|________|____|_____|___________|
| | incl. |250.00|313.89| 63.89 |2.08| 4.5 | 15.0 |
|__________|__________|______|______|________|____|_____|___________|
| | | | | | | | |
|__________|__________|______|______|________|____|_____|___________|
| | MHREO | 2.19 |178.62| 176.43 |1.56|12.3 | 18.5 |
|__________| Zone |______|______|________|____|_____|___________|
| | | 3.05 |51.96 | 48.91 |1.46|14.2 | 20.2 |
|__________| |______|______|________|____|_____|___________|
| | |53.36 |92.07 | 38.71 |2.03|11.7 | 16.6 |
|__________|__________|______|______|________|____|_____|___________|
| | | | | | | | |
|__________|__________|______|______|________|____|_____|___________|
| 230/45 | EC11-077 | 3.00 |118.23| 115.23 |1.71| 7.4 | 17.2 |
|__________|__________|______|______|________|____|_____|___________|
| | incl. |23.74 |87.92 | 64.18 |1.96| 7.3 | 15.8 |
|__________|__________|______|______|________|____|_____|___________|
| | | | | | | | |
|__________|__________|______|______|________|____|_____|___________|
| |MHREO Zone| 4.71 |13.66 | 8.95 |1.06|11.9 | 30.5 |
|__________|__________|______|______|________|____|_____|___________|
| | | | | | | | |
|__________|__________|______|______|________|____|_____|___________|
| 230/75 |EC11-078A | 5.17 |259.88| 254.71 |1.92| 5.4 | 16.0 |
|__________|__________|______|______|________|____|_____|___________|
| | incl. |30.10 |166.58| 136.48 |2.21| 5.2 | 15.1 |
|__________|__________|______|______|________|____|_____|___________|
| | or |156.94|166.58| 9.64 |3.06| 3.2 | 12.6 |
|__________|__________|______|______|________|____|_____|___________|
| | | | | | | | |
|__________|__________|______|______|________|____|_____|___________|
| 0/90 | EC11-082 | 4.19 |325.95| 321.76 |2.05| 6.2 | 15.7 |
|__________|__________|______|______|________|____|_____|___________|
| | incl. |282.08|325.02| 42.94 |2.26| 4.0 | 14.2 |
|__________|__________|______|______|________|____|_____|___________|
| | | | | | | | |
|__________|__________|______|______|________|____|_____|___________|
* All samples were analyzed by Activation Laboratories of Ancaster, ON
using its method eight — major oxide, rare earths and trace element
package by fusion ICP and ICP/MS in addition to fluorine by method
4F-F. The four most abundant REEs that make up the TREO reported above
are cerium, lanthanum / neodymium and praseodymium.
* Drill holes EC11-075, 077, and 078A are BTW in size. Drill holes
EC11-076A and 082 are NQ in size. The true width of drill intersections
is not confirmed. Strikes and dips are idealized as spotted.
Drill holes EC11-077, 078A, and 082 targeted the north-western contact
of the deposit while drill holes EC11-075, and 076A probed the extent
of the MHREO enriched zone. All five holes collared in mineralization.
Middle and Heavy Rare Earth Element Enrichment
A peak dysprosium oxide (Dy(2)O(3)) value of 529 ppm was returned from EC11-076A at an MHREO grade of
26.2% and a TREO grade of 2.02%. This is the highest value of Dy(2)O(3) yet returned from Eldor and highlights the continued potential for
MHREO enrichment at Ashram. The grade (2.02% TREO) and distribution of
this sample (1.4% Eu(2)O(3) and 2.6% Dy(2)O(3) of TREO) is very rare in carbonatite hosted systems, and further adds
to the potential of the zone.
In addition, an intensely neodymium (Nd) enriched ferro-carbonatite dyke
appears to cut the deposit north of the main MHREO Zone with peak Nd
oxide values of 41% (of TREO). The dyke has thus far been identified
in EC11-065 and 077 with 9.82 m of 28.2% Nd oxide and 8.95 m of 30.5%
Nd oxide at 1.09% and 1.06 % TREO respectively. MHREO values are also
considerable at 16% and 12% respectively. The presence of this dyke
illustrates the pervasiveness of the MHREO enrichment at Ashram, and
suggests the presence of other distinct and enriched zones yet to be
discovered.
Further Results to Come
A total of 33 holes (10,120 metres) were completed with 26 holes (9,012
metres) at the Ashram Rare Earth Zone, and 7 holes (1,108 metres) at
regional targets. Analytical results from the remaining holes will be
reported in batches as they are received. To date, assays for eighteen
drill holes have been released, with twelve still pending. Three holes
were not sampled, of which, two are being held for advanced
metallurgical studies.
Data compilation of regional results is underway as well as,
metallurgical, mineralogical, and environmental studies on the Ashram
Deposit in preparation for a Preliminary Economic Assessment (“PEA”).
The Eldor Property is located in northern Quebec approximately 130
kilometres south of the town of Kuujjuaq and 100 kilometres north of
Adriana Resources Inc.’s Lac Otelnuk Iron Deposit. The property is
100%-owned by the Company and encompasses 404 claims totaling
approximately 19,006 hectares.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., a Qualified Person as defined by
National Instrument 43-101, has read and approved the contents of this
news release.
Middle and Heavy Rare Earth Oxides (“MHREO”) is defined as the sum of
the middle rare earth oxides (Sm(2)O(3), Eu(2)O(3), Gd(2)O(3)) and the heavy rare earth oxides (Tb(2)O(3), Dy(2)O(3), Ho(2)O(3), Er(2)O(3), Tm(2)O(3), Yb(2)O(3), Lu(2)O(3)) plus Y(2)O(3) expressed as a percent out of the TREO content.
Total Rare Earth Oxides (“TREO”) include: La(2)O(3), Ce(2)O(3), Pr(2)O(3), Nd(2)O(3), Sm(2)O(3), Eu(2)O(3), Gd(2)O(3), Tb(2)O(3), Dy(2)O(3), Ho(2)O(3), Er(2)O(3), Tm(2)O(3), Yb(2)O(3), Lu(2)O(3), and Y(2)O(3).
About Commerce Resources Corp.
Commerce Resources Corp. is focused on building shareholder value
through the discovery and development of Canadian rare metal and rare
earth element deposits. Commerce’s principal assets are its Blue River
Tantalum-Niobium Project in British Columbia and its Eldor Rare Earth
Project in Quebec. The Company trades on the TSX Venture Exchange under
the symbol “CCE”, the Frankfurt Stock Exchange under the symbol “D7H”
and the U.S. OTCQX under the symbol “CMRZF.”
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
“David Hodge”
David Hodge
President and Director
Tel:Â 604.484.2700
Email: dhodge@commerceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are
forward-looking statements, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Forward-looking
statements in this news release include that analytical results from
the remaining holes from the summer/fall drill program at Eldor will be
reported in batches as they are received.
It is important to note that actual outcomes and the Company’s actual
results could differ materially from those in such forward-looking
statements. Risks and uncertainties include economic, competitive,
governmental, environmental and technological factors that may affect
the Company’s operations, markets, products and prices. Factors that
could cause actual results to differ materially may include
misinterpretation of data; that we may not be able to get equipment or
labour as we need it; that we may not be able to raise sufficient funds
to complete our intended exploration and development; that our
applications to drill may be denied; that weather, logistical problems
or hazards may prevent us from exploration; that equipment may not work
as well as expected; that analysis of data may not be possible
accurately; that results which we or others have found in any
particular location are not necessarily indicative of larger areas of
our properties; that we may not complete environmental programs in a
timely manner or at all; that market prices for rare earth elements may
not justify commercial production costs; and that despite encouraging
data there may be no commercially exploitable mineralization on our
properties.
Readers should refer to the risk disclosures outlined in the Company’s
Management Discussion & Analysis of its audited financial statements
filed with the British Columbia Securities Commission.
Â
SOURCE Commerce Resources Corp.
