Commerce Resources Corp. Intersects 325.31 m of 1.96% TREO, and 90.38 m of 2.21% TREO at the Ashram Deposit, Northern Quebec
VANCOUVER, Jan. 27, 2012 /PRNewswire/ - Commerce Resources Corp. (TSXv: CCE), (FSE: D7H), (OTCQX: CMRZF) (the “Company” or “Commerce”)
is pleased to report the results for four drill holes completed during
the summer/fall exploration program at the Ashram Rare Earth Element
(“REE”) Deposit, at the Eldor Project in northern Quebec.
As drilling progresses north, significant REE mineralization continues
to be intersected at surface down to considerable depths.
Highlights are as follows:
-- Drill Hole EC11-084: 325.31 m of 1.96% Total Rare Earth Oxides (TREO) o Including 52.25 m of 2.26% TREO -- Drill Hole EC11-085: 144.52 m of 1.94% TREO o Including 90.38 m of 2.21% TREO -- Drill Hole EC11-083: 88.68 m of 2.14% TREO -- Drill Hole EC11-086: 80.56 m of 2.14% TREO
Middle and Heavy Rare Earth Element Enrichment
The Middle and Heavy Rare Earth Oxide (“MHREO”) zone at Ashram has
expanded significantly with the results from the 2011 summer/fall drill
program and now has a surface footprint of approximately 175 m along
strike, 200 m in width, and to a depth of 175 m, with considerable room
for expansion remaining.
Middle and heavy rare earth enrichment remains consistent throughout the
deposit with the main enriched zone still present in EC11-083, 084, and
085 as small zones averaging ~10% MHREO grading in and out down hole.
Peak values greater than 20% MHREO continue to be returned including
one sample with 410 ppm dysprosium and 201 ppm europium at a TREO of
Complete results are as follows:
___________________________________________________________________ |Strike/Dip| | From | To |Interval|TREO|MHREO| Neodymium | | (Ã¦) |Drill Hole| (m) | (m) | (m) |(%) |(% of| Oxide | | | | | | | |TREO)|(% of TREO)| |__________|__________|______|______|________|____|_____|___________| | 230/45 | EC11-083 | 2.12 |154.93| 152.81 |1.80| 7.1 | 16.7 | |__________|__________|______|______|________|____|_____|___________| | | incl.| 2.12 |90.80 | 88.68 |2.14| 7.1 | 15.6 | |__________|__________|______|______|________|____|_____|___________| | | | | | | | | | |__________|__________|______|______|________|____|_____|___________| | | |24.59 |30.89 | 6.30 |1.82|11.7 | 16.6 | |__________| |______|______|________|____|_____|___________| | | |45.88 |50.81 | 4.93 |1.88|10.5 | 18.2 | |__________| MHREO |______|______|________|____|_____|___________| | | Zone |51.55 |54.61 | 3.06 |1.83|10.4 | 16.7 | |__________| |______|______|________|____|_____|___________| | | |56.40 |58.90 | 2.50 |1.97| 9.5 | 19.5 | |__________| |______|______|________|____|_____|___________| | | |139.26|144.18| 4.92 |1.15|11.9 | 22.0 | |__________|__________|______|______|________|____|_____|___________| | | | | | | | | | |__________|__________|______|______|________|____|_____|___________| | 0/90 | EC11-084 | 3.10 |400.17| 397.07 |1.83| 6.6 | 16.6 | |__________|__________|______|______|________|____|_____|___________| | | incl.| 3.10 |328.41| 325.31 |1.96| 6.6 | 16.2 | |__________|__________|______|______|________|____|_____|___________| | | incl.|208.42|260.67| 52.25 |2.26| 4.5 | 15.2 | |__________|__________|______|______|________|____|_____|___________| | | | | | | | | | |__________|__________|______|______|________|____|_____|___________| | | |56.30 |84.00 | 27.70 |1.77| 9.6 | 18.0 | |__________| |______|______|________|____|_____|___________| | | |104.93|110.20| 5.27 |1.96|11.1 | 18.6 | |__________| |______|______|________|____|_____|___________| | | MHREO |124.61|130.37| 5.76 |1.40|11.7 | 17.5 | |__________| Zone |______|______|________|____|_____|___________| | | |147.75|157.12| 9.37 |1.33|10.4 | 22.4 | |__________| |______|______|________|____|_____|___________| | | |171.60|181.59| 9.99 |1.66|10.7 | 18.9 | |__________| |______|______|________|____|_____|___________| | | |359.05|364.85| 5.80 |1.07|10.8 | 22.9 | |__________|__________|______|______|________|____|_____|___________| | | | | | | | | | |__________|__________|______|______|________|____|_____|___________| | 230/45 | EC11-085 | 3.66 |148.18| 144.52 |1.94| 7.2 | 16.2 | |__________|__________|______|______|________|____|_____|___________| | | incl.|28.53 |118.91| 90.38 |2.21| 7.1 | 15.4 | |__________|__________|______|______|________|____|_____|___________| | | | | | | | | | |__________|__________|______|______|________|____|_____|___________| | | |13.43 |16.87 | 3.44 |1.54|11.5 | 16.9 | |__________| MHREO |______|______|________|____|_____|___________| | | Zone |37.80 |56.62 | 18.82 |2.05|10.7 | 16.3 | |__________| |______|______|________|____|_____|___________| | | |143.20|146.42| 3.22 |1.16|11.2 | 22.4 | |__________|__________|______|______|________|____|_____|___________| | | | | | | | | | |__________|__________|______|______|________|____|_____|___________| | 230/45 | EC11-086 |368.69|757.73| 389.04 |1.61| 6.1 | 18.1 | |__________|__________|______|______|________|____|_____|___________| | | incl.|582.17|662.73| 80.56 |2.14| 5.4 | 17.4 | |__________|__________|______|______|________|____|_____|___________| | | | | | | | | | |__________|__________|______|______|________|____|_____|___________|
* 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 EC11-083, 084, 085, and 086 are NQ in size. The true
width of drill intersections is not confirmed. Strikes and dips are
idealized as spotted.
Drill holes EC11-083 and 085 targeted the north-western contact of the
deposit while EC11-084 was collared vertically near its north end. All
three holes focused on infilling for increased confidence in support of
updating current inferred status resources to indicated status.
EC11-086 was collared off a small peninsula on the eastern side of
Centre Pond, attempting to cross-cut the centre of the deposit. This
hole intersected ~50 m of what is interpreted to be the north end of a
poorly mineralized breccia unit diluting the grade of an otherwise well
mineralized 389 m intercept.
Drill holes EC11-083, 084, and 085 all collared in mineralization while
EC11-086 collared in a heterogeneous mix of calico carbonatite,
dolomite carbonatite, and glimmerite, while ending in mineralization.
A map showing the drill hole locations and detailed analytical results
will be posted on the Company’s website at: http://www.commerceresources.com/s/Eldor.asp
Updated Mineral Resource Estimate
Exploration in 2011 included 9,012 m of BTW and NQ diameter diamond
drilling in 26 holes for the purposes of expanding the mineralized area
and infilling the geological and structural information within the
Ashram Deposit. To date, analytical results for 24 drill holes from
Ashram have now been released. The remaining two holes are being held
for advanced metallurgical studies.
An updated block model and resource estimate with accompanying technical
report under the supervision of SGS Geostat is currently underway using
mapping and drill data from the 2011 winter and summer/fall campaigns.
The initial, and current, resource includes only 12 holes (3,313 m)
completed in 2010, leaving 33 holes (12,379 m) yet to be incorporated
into the model.
Other Work Completed and Ongoing in 2012
In addition to the drilling at the Ashram Deposit, the Company completed
7 holes (1,108 m) at regional targets. Analytical results from these
holes remain pending.
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 by SGS
NI 43-101 Disclosure
The technical information in this news release has been reviewed and
approved by Darren L. Smith, M.Sc., P.Geol., who is a Qualified Person
in accordance with National Instrument 43-101 Standards of Disclosure
for Mineral Projects.
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.
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
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.
SOURCE Commerce Resources Corp.