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Commerce Resources Corp. Initiates Drill Program at the Ashram Rare Earth Deposit, Northern Quebec

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Commerce Resources Corp. Initiates Drill Program at the Ashram Rare Earth Deposit, Northern Quebec

 

 

 

 

 

Commerce Resources Corp. (TSX-V:CCE) (FSE:D7H) is pleased to announce crew and equipment mobilization for a winter drill program to commence immediately at its 100% owned Ashram Rare Earth Deposit located in Northern Quebec.

 

 

The six to eight week drill program will include 1,000 to 1,500 metres of drilling targeting the Ashram Rare Earth Deposit. Drilling will focus on infill holes over Centre Pond in order to increase the confidence level of existing resources from the current inferred category to the indicated and/or measured categories.

 

 

It is anticipated that the current winter drill program will be sufficient to fully define the heavy rare earth enrichment of the Middle and Heavy Rare Earth Element Oxide Zone at the indicated or measured level, although this cannot be confirmed until a resource update is completed. The MHREO Zone is a unique section of the Ashram Deposit in that it has significant enrichment in the middle and heavy rare earth oxides, it is central to the overall deposit, it extends from surface to depths exceeding 178 metres, and is therefore anticipated that this material will be the focus of early development activities.

 

 

The winter drill program follows the successful 2013 drill campaign at the Ashram Deposit that targeted land based holes, in which, additional rare earth mineralization was intersected where waste had been modelled in the current resource and where high grade zones of up to 2.48% Total Rare Earth Oxide were intersected.

 

 

The Ashram Deposit has currently, based on 57 holes and 16,868 metres drilled, a measured and indicated resource of 29.3 million tonnes at 1.90% TREO and an inferred resource of 219.8 million tonnes at 1.88% TREO.

 

 

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 Upper Fir Tantalum and Niobium Deposit in British Columbia and the Ashram Rare Earth Element Deposit in Quebec.

 

Posted March 20, 2014

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