[Marinir] {Disarmed} Commerce Resources Corp. Drills 2.10% TREO over 586.92 metres at the Eldor Property, Quebec
Infostock
info at infostockbiz.com
Wed Jun 29 00:30:38 CEST 2011
Click here
http://www.actonsoftware.com/acton/ct/1523/s-0009-1106/Bct/l-0002/l-0002:15bcd/ct0_1/1
to view this message in a browser window
http://www.commerceresources.com
Commerce Resources Corp. Drills 2.10% TREO over 586.92 metres including
3.00% TREO over 36.99 metres at the Eldor Property, Quebec
Commerce Resources Corp. (TSX-V: CCE
http://www.commerceresources.com/s/StockInfo.asp
; FSE: D7H
http://deutsche-boerse.com/dbag/dispatch/en/isg/gdb_navigation/listing/40_Listing_Partner/20_Listing_Partners_by_Field_of_Activities/40_IR_and_PR_Agencies/Content_Files/40_listing_partner/Axino_AG.htm?module=InOverview_Equi&wp=CA2006971006&foldertype=_Equi&250300459
; OTCQX: CMRZF
http://www.otcmarkets.com/stock/CMRZF/quote
) (the "Company" or "Commerce") is pleased to report the assay results
for the first four of seven drill holes completed during the 2011 winter
drilling program at the Ashram Rare Earth Element ("REE") Zone at the
Company's Eldor Project in northern Quebec.
The thickness and north-south extent of the REE mineralization at the
Ashram Zone has been significantly expanded by this set of drill holes.
The highlight is EC11-048 which intersected REE mineralized carbonatite
over its entire length returning 2.10% Total Rare Earth Oxides ("TREO")
over 586.92 metres including 36.99 metres of 3.00% TREO . EC11-048 is
the best hole reported to date in terms of grade and thickness with
seven sample intervals returning greater than 4% TREO to a peak value of
9.88% TREO. The hole ended in mineralization as the depth limitations of
the drill were reached.
Further results from holes EC11-048, 49, 50 and 51 are included in the
table below:
Hole From (m) To (m) Interval (m) TREO (%) Nd2O3 (%) /
TREO (%)
EC11-048 6.83 593.75 586.92 2.10 17.0
Incl. 491.37 499.22 7.85 3.00 13.2
Incl. 523.67 560.66 36.99 3.00 14.4
EC11-049 7.06 323.09 316.03 1.06 20.2
Incl. 243.00 323.09 80.09 1.85 17.3
Incl. 308.00 323.09 15.09 2.01 15.5
EC11-050 12.00 600.46 588.46 1.42 19.7
Incl. 165.54 234.82 69.28 2.04 16.2
Incl. 439.31 478.35 39.04 2.01 17.8
Incl. 590.72 600.46 9.74 2.80 18.0
EC11-051 9.14 563.60 554.46 1.86 18.0
Incl. 25.00 479.63 454.63 2.00 17.1
or 389.00 479.63 90.63 2.37 16.7
or 425.25 432.50 7.25 3.00 14.4
*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 niobium by XRF, and
fluorine by method 4F-F. The four most abundant REEs that make up the
TREO reported above are cerium, lanthanum / neodymium and praseodymium.
As the deposits geometry is still being determined actual drill widths
are unknown but are estimated to be near to true thickness.
These step-out holes have expanded the REE mineralization at Ashram by
150 metres to the northeast and extended the depth of known
mineralization by 235 metres from 365 metres to approximately 600
metres. REE mineralization at the Ashram has now been defined over an
area measuring in excess of 600 metres east-west, by 500 metres
north-south, to depths in excess of 600 metres. The mineralization
remains open to the north, south, east, at depth, and is not fully
constrained to the west.
Eight holes totaling 3,656 metres were completed during the winter
program. Seven of the holes (3,367 metres) were drilled at the Ashram
Zone and were vertically collared on Centre Pond to test the northern,
eastern, and depth extensions of the Ashram Deposit. The final hole of
the program was drilled at a separate location approximately 1 kilometre
north of Ashram known as the Triple D Target. Assay results for the
remaining four holes (EC11-052, 053, 054, and 055) are pending. A total
of 6,680 metres of drilling has now been completed at the Ashram Zone
over 19 holes.
A map showing the location of drill holes, along with detailed
analytical results, will be posted on the Company's website at:
http://www.commerceresources.com/s/Eldor.asp
http://www.commerceresources.com/s/Eldor.asp
The deposit continues to display increased grade moving north as well as
enrichment in the middle and heavy rare earth elements. As drilling has
progressed northward drill intersections of greater than 3% TREO have
increased in occurrence with 4% TREO assays becoming more common. Zones
of enrichment in the middle and heavy rare earth oxides ("MHREO") as
well as neodymium oxide ("Nd2O3") continue to be encountered. EC11-050
returned 11.4% MHREO and 22.5% Nd2O3 over 34.69 metres at 1.46% TREO
(238.42 - 273.11 metres) as well as 13.6% MHREO and 19.6% Nd2O3 over
72.13 metres at 1.23% TREO (305.65 - 377.78 metres). The MHREO values
are significant compared to the already anomalously high average for the
Ashram Deposit of 7.4% MHREO. Neodymium enrichment is prevalent in the
drill holes as well. For example, EC11-051 intersected 22.7% MHREO and
31.5% Nd2O3 over 14.53 metres at 0.83% TREO (500.41 - 514.94 metres) in
addition to numerous other similar intersections up hole.
Currently, two types of MHREO enriched zones are apparent in the
deposit. The first is a ferro-carbonatite of approximately 1.20-1.45%
TREO that averages 12-20% MHREO with high fluorite content and
xenotime-(Dy) as the main REE bearing phase (e.g. EC11-047). The second,
is a magnesio-carbonatite of approximately 0.80-1.00% TREO that averages
10-15% MHREO with low fluorite content and courser grained rare earth
fluorocarbonates (bastnaesite, parisite, and synchysite) as the main REE
bearing phase. The geometry of the enriched zones is still not well
constrained, however, both appear to be extensive with the first being
closer to the centre of the deposit and the later potentially forming an
enriched outer halo around the deposit. Increased enrichment in
neodymium oxide is commonly associated with increased MHREO in both
settings.
he Ashram Deposit is a large tonnage rare earth discovery and is ranked
as one of the largest rare earth deposits outside of China. In early
2011, Commerce reported an initial NI 43-101 resource estimate for the
Ashram Zone of 117.34 million tonnes averaging 1.74% TREO in the
Inferred Category using a base case cutoff of 1.25% TREO (SGS Geostat,
April 2011). The resource estimate was based on twelve holes totaling
3,313 metres drilled in 2010.
Preliminary mineralogical work completed by Roger Mitchell of Lakehead
University, ON has indicated that monazite-(Ce) along with lesser
bastnaesite-(Ce) and trace amounts of xenotime-(Dy) and
nioboaeschynite-(Dy) are the main REE bearing minerals at the Ashram.
Areas of enrichment in the middle and heavy rare earth elements are
marked by an increase in xenotime-(Dy), which is a dominantly heavy rare
earth bearing mineral, and/or a decrease is monazite-(Ce).
Hazen Research Inc. of Golden, Colorado is conducting preliminary
metallurgical work on material from the 2010 drilling program. Commerce
will also be continuing exploration and drilling through the spring and
summer in combination with the metallurgical work with the aim to
collect the data necessary to complete a Preliminary Economic Assessment
for the Ashram Deposit. Details of the spring and summer work program
will be provided upon receipt of the final assays from the winter
program.
The Eldor Property is located in northern Quebec approximately 130
kilometres south of the town of Kuujjuaq and 100 kilometres north of
Adriana Resources' Lac Otelnuk Iron Deposit. The property is 100%-owned
by Commerce and encompasses 404 claims totaling approximately 19,006
hectares. The Company is well financed and has sufficient working
capital available to complete all of the development and exploration
plans. The Company currently has $14 million in cash and investments.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., a qualified person as defined by
National Instrument 43-101, supervised the preparation of the technical
information in this news release.
Middle and Heavy Rare Earth Oxides ("MHREO") is defined as the sum of
the middle rare earth oxides (Sm2O3, Eu2O3, Gd2O3) and the heavy rare
earth oxides (Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3) plus Y2O3
expressed as a percent out of the TREO content.
Total Rare Earth Oxides ("TREO") include: La2O3, Ce2O3, Pr2O3, Nd2O3,
Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3,
and Y2O3.
Neodymium Oxide ("Nd2O3") is expressed as a percent out of the TREO
content.
About Commerce Resources Corp.
Commerce Resources Corp. is focused on building shareholder value
through the discovery and development of rare metal deposits with a 100%
focus on Canadian assets. Commerce's principal assets are its Blue River
Tantalum-Niobium Project in British Columbia and its Eldor Rare Earth
Project in Quebec.
At Blue River, Commerce is advancing its Upper Fir Tantalum and Niobium
Deposit through development with a Preliminary Economic Assessment in
the advanced stages of completion. At the Eldor Project, Commerce's 2010
exploration program led to the discovery of a significant new rare earth
deposit known as the Ashram. Commerce recently filed an initial NI
43-101 Inferred Resource Estimate for the Ashram and is continuing
exploration and drilling in combination with metallurgical work with the
aim to collect the data necessary to complete a Preliminary Economic
Assessment for the deposit. The Ashram Deposit is a large tonnage rare
earth discovery and is ranked as one of the largest rare earth deposits
outside of China.
Commerce trades on the Toronto Venture Exchange under the symbol "CCE",
the Frankfurt Exchange under the symbol "D7H" and the U.S. OTCQX under
the symbol "CMRZF."
For more information on Commerce Resources Corp. visit the corporate
website at http://www.commerceresources.com
http://www.commerceresources.com
or contact investor relations at 1.866.484.2700 or
info at commerceresources.com
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
David Hodge
President and Director
Tel: (604) 484-2700
TF: (866) 484-2700
Email: dhodge at 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 the company will be
continuing exploration and drilling through the spring and summer in
combination with metallurgical work with the aim to collect the data
necessary to complete a Preliminary Economic Assessment for the Ashram
Deposit and that details of the spring and summer work program will be
provided upon receipt of the final assays from the winter program.
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.
For more information about this service, please see:
www.infostockbiz.com
http://www.infostockbiz.com
--------------------------------------------------------------------------------
*********************************************************************
Disclaimer: KCrew Communications was paid to distribute this Infostock bulletin.
KCrew Communications may or may not own securities in this particular company.
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!
You are on this mailing list because you registered for Infostock.
You may opt out at any time using the unsubscribe feature at the bottom of this email.
For more information about this service, please see http://www.infostockbiz.com
http://www.infostockbiz.com
KCrew Communications Inc. at 1.866.465.3616
Suite 1250 - 789 West Pender St., Vancouver, BC Canada V6C1H2.
This email complies with the US Federal CAN-SPAM Act of 2003
*********************************************************************
If you do not wish to receive futher emails Click Here
http://www.actonsoftware.com/acton/rif/1523/s-0009-1106/-/l-0002:15bcd/l-0002/zout
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://www.polarhome.com/pipermail/munindo/attachments/20110628/d43e5dc7/attachment-0001.html>
More information about the Munindo
mailing list