Commerce Resources Corp. (TSX-V: CCE) (FSE: D7H) is pleased to report the results of the recent prospecting and sampling completed throughout the Miranna Area, which forms part of its Niobium Claim Group in northern Quebec. This work was conducted by the Company during the 2017 field program.
The Miranna Area is characterized by a strongly mineralized (Nb-Ta-Phosphate), glacially dispersed, boulder train with a source interpreted to be potentially on the Property. Prospecting work in the area continues to identify numerous, well-mineralized boulders, with the 2017 program returning a peak niobium sample of 4.30% Nb2O5, 240 ppm Ta2O5, and 13.4% P2O5, and a peak tantalum sample of 1.16% Nb2O5, 700 ppm Ta2O5, and 0.65% P2O5. A summary of results is presented in Table 1.
Table 1 – Select mineralized boulder sample results, collected on the Property from the Miranna Area in 2017
|Sample ID||Nb2O5 (%)||Ta2O5 (ppm)||P2O5 (%)|
(1) Ta2O5 and Nb2O5 are analyzed by XRF with a detection limit of 10 ppm
The recent field work further supports the presence of a large, strongly mineralized boulder field with a source towards the south-southeast. A distinct lull in mineralized boulders is coincident with the primary geophysical anomaly in the Miranna Area, of which approximately half is present on the Property. This anomaly, known as the Miranna Target, is interpreted to be a potential source of the boulder train. Further, the data suggests several overlapping boulder trains may be present, with one source potentially from the Southeast Area.
All samples were analyzed by Activation Laboratories Ltd. the Ancaster, ON facility for major oxide, rare earths, and trace elements by fusion ICP and ICP/MS, tantalum and niobium by XRF, and for fluorine by Fusion Specific Ion Electrode-ISE.
Saville Resources Inc. intends to complete its maiden drill program on the Niobium Claim Group Property in the latter half of 2018. The program will aim to test the portion of the Miranna Target that is present on the Property, as well as further test the Northwest and Southeast areas, which are also considered highly prospective, with several well-mineralized drill intersections returned in prior years.
The Miranna, Southeast, and Northwest areas are all located within only a few kilometres of the Ashram Rare Earth Deposit, which suggests there could be significant potential for development synergies in the event a deposit of merit is defined by the Company on its Niobium Claim Group.
Saville Resources Inc. is currently preparing an NI 43-101 Technical Report on the Niobium Claim Group Property, which consists of 21 contiguous claims within the Eldor Property. Saville recently signed an Earn-In Agreement (subject to TSX Venture Exchange approval) providing the Company with the exclusive right to earn up to a 75% interest in the Property (see news release dated January 11, 2018). The agreement is conditionally approved by the TSX Venture Exchange, pending receipt of an acceptable NI 43-101 Technical Report on the Property.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on deposits of rare metals and rare earth elements. The Company is focused on the development of its Ashram Rare Earth Element Deposit in Quebec and the Upper Fir Tantalum-Niobium Deposit in British Columbia.
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