Press Release: Commerce Resources Corp. Samples 1,220 ppm Ta2O5 with 15,700 ppm Nb2O5, and 0.46% TREO (with HREO enrichment) from the Eldor Property, Northern Quebec
(Dow Jones 01.29 14:30:08)
Commerce Resources Corp. Samples 1,220 ppm Ta2O5 with 15,700 ppm Nb2O5, and
0.46% TREO (with HREO enrichment) from the Eldor Property, Northern Quebec
Canada NewsWire
VANCOUVER, Jan. 29, 2014
VANCOUVER, Jan. 29, 2014 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE:
D7H) (the "Company" or "Commerce") is pleased to report the results of a
limited prospecting and sampling program carried out in 2013 on the Eldor
Property, Northern Quebec.
Although the 2013 field season's focus was on advancing the Eldor Property's
primary asset, the Ashram Rare Earth Deposit with the infill and step out
drilling program reported January 10, 2014, a small prospecting and sampling
program was also completed targeting the tantalum-niobium potential of the
Miranna Area. Several very high-grade tantalum and niobium boulders were
collected with one sample assaying 1,220 ppm Ta(2) O(5) , 15,700 ppm Nb(2)
O(5) , 10.6% P(2) O(5) , and 0.46% TREO (enriched in the HREOs).
The significance of these results is considerable for four reasons:
1. The tantalum grades are amongst the highest in the world where >300 ppm
Ta2O5 in mining operations is considered high-grade.
2. Potential exists for all four commodities (Ta-Nb-REE-Phosphate) to be
present in significant grade within the host body.
3. Prior mineralogical work of the Southeast Area infers the commodities
may
be present in only two well-known minerals (pyrochlore -- Ta, Nb, and
REE; apatite -- P2O5) that have been commercially processed elsewhere in
the world from similar rock types (Niobec Mine, Canada -- pyrochlore,
Cargill Mine, Canada -- Apatite). In addition, pyrochlore
mineralization
within the boulders is very coarse grained.
4. The presumed source(s) of the mineralized boulder train in the Miranna
Area is not one of the known mineralized zones, and thus, represents a
new discovery.
President Dave Hodge states: "Since the acquisition of the Eldor Carbonatite
in early 2007, exploration has identified multi-commodity potential on this
claim group. This was first realized with the discovery of the Ashram
Deposit which now ranks amongst the world's largest REE projects. The truly
significant aspect of these current results is the future exploration
potential of the overall Eldor Carbonatite where other commodities,
identified in boulders, soil surveys and outcrop, include: Niobium,
Tantalum, Phosphate, Copper and Nickel. These early stage results point out
a clear long term direction for Commerce, in that when Commerce is
successful in establishing industry partners to advance the Ashram Rare
Earth Deposit, as well the Upper Fir Tantalum and Niobium Deposit into
production, Commerce will have multiple targets to begin the process of
exploration and discovery again on both claim groups in Quebec and British
Columbia."
Select results are highlighted in Table 1 below.
Table 1 -- Select Analytical Results from the 2013 Prospecting
Sample ID Ta(2) O(5) Nb(2) O(5) P(2) O(5) (%) TREO (%)(1) MH/T (%)(2)
(ppm) (ppm)
118010 1220 15,700 10.6 0.46 14.4
118012 580 6,160 9.1 0.40 12.2
118013 790 9,640 9.9 0.45 10.6
118014 380 19,390 9.9 0.40 12.6
(1) All samples are of boulders
(2) Ta(2) O(5) and Nb(2) O(5) are analyzed by XRF with
a detection limit of 10 ppm
(3) TREO is the summation of Ce(2) O(3) + La(2) O(3) +
Pr(2) O(3) + Nd(2) O(3) + Eu(2) O(3) + Sm(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)
+ Y(2) O(3)
(4) MH/T is the sum of the middle and heavy rare earth
oxides (Eu(2) O(3) + Sm(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) + Y(2) O(3) ) divided
by TREO, expressed as a per cent
A total of 15 samples were collected, focused over two exploration areas;
south Glim Lake, and Miranna (east of the northern half of Centre Pond). To
view a location map of the Miranna Area, visit
http://www.commerceresources.com/i/maps/Map-Miranna.jpg.
The majority of samples were collected from the Miranna Area where high
grade tantalum-niobium potential had been identified by compilation and
interpretation of historical exploration results prior to the field season.
An extensive boulder field is becoming evident and additional work will
focus on tracing it back to its source(s). This very same boulder
exploration methodology is largely credited with the discovery of the Ashram
Rare Earth Deposit, located less than a kilometre to the east. This
methodology is widely used in the mineral exploration industry and, most
recently, has been credited with the high-grade uranium discovery at
Patterson Lake South by Alpha Minerals Inc. and Fission Uranium Corp.
The Eldor Property continues to display multi-commodity potential with much
of the Property and the carbonatite complex yet to be explored.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., of 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.
All samples were analyzed by Activation Laboratories Ltd. of Ancaster, ON
using its method major oxide, rare earths and trace element package by
fusion ICP and ICP/MS in addition to tantalum and niobium by XRF.
About Tantalum and Niobium
Tantalum is a niche commodity that dramatically improves performance of
high-tech devices. The element is critical to miniaturization and
efficiency of cell phones and similar products and is essentially found in
every electronic device produced on the planet. It may not be required in
large amounts but is absolutely essential to the electronics industry.
Niobium is commonly marketed as ferroniobium and is used dominantly as an
additive in high-strength low-alloy steel production. The addition of up to
0.1% niobium will considerably enhance the strength of the final product and
is a critical component to steel production in the world. Brazil dominates
world production, supplying 80% of the market, with notable production from
the Niobec mine in Quebec, Canada (4,200 ppm Nb(2) O(5) head grade). Other
notable deposits include Niocorp's Elk Creek Deposit (6,500 ppm Nb(2) O(5)
), and Taseko's Aley Deposit (3,700 ppm Nb(2) O(5) )
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.
For more information please visit the corporate website at
www.commerceresources.com or contact Investor Relations at 1.866.484.2700 or
info@commerceresources.com.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
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.
Forward-Looking Statements
This news release contains forward-looking information which is subject to a
variety of risks and uncertainties and other factors that could cause actual
events or results to differ from those projected in the forward-looking
statements. Forward looking statements in this press release include
potential exists for all four commodities to be present in significant
grade; commodities may be present in two well-known minerals; when Commerce
is successful in establishing industry partners to advance the deposits into
production; and all references to information contained in the
pre-feasibility study.
These forward-looking statements are based on the opinions and estimates of
management and its consultants at the date the information is disseminated.
They are subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from those
projected in the forward-looking information. Risks that could change or
prevent these statements from coming to fruition include the ability to
finance ongoing exploration, development and metallurgical programs,
changing costs for mining and processing; changing forecasts of mine
production rates; the timing and content of upcoming work programs;
geological interpretations based on drilling that may change with more
detailed information; potential process methods and mineral recoveries
assumption based on test work; the availability of labour, equipment and
markets for the products produced; market pricing for the products produced;
and despite the current expected viability of the project, conditions
changing such that the minerals on our property cannot be economically
mined, or that the required permits to build and operate the envisaged mine
can be obtained. The forward-looking information contained herein is given
as of the date hereof and the Company assumes no responsibility to update or
revise such information to reflect new events or circumstances, except as
required by law.
SOURCE Commerce Resources Corp.
/CONTACT:
David Hodge, President and Director, Tel: 604.484.2700, Email:
dhodge@commerceresources.com
/Web site: http://www.commerceresources.com
Copyright CNW Group 2014
(END) Dow Jones Newswires
January 29, 2014 08:30 ET (13:30 GMT)
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