Commerce Resources Corp.
Monday, September 12, 2016 - 9:23 PM EDT

Commerce Resources Corp. Samples 5.9% Nb2O5 from the Eldor Property, Northern Quebec



Vancouver, British Columbia (FSCwire) - Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) (the “Company” or “Commerce”) is pleased to report the results of a prospecting and sampling program completed on the Eldor Property, Northern Quebec. The results of this focused program are extremely encouraging, including the highest niobium mineralized sample collected to date from the area: 5.9% Nb2O5.

 

In addition to advancing the Company’s Ashram Rare Earth Project, a small prospecting and sampling program was recently completed, which followed-up on the niobium-tantalum-phosphate potential of the Miranna Area, where a mineralized, glacially dispersed boulder train had been previously discovered (see news release dated January 29, 2014). The Miranna Area is located about 1 km east 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 at Miranna.

 

The objective of the Miranna program was to further delineate the area’s boulder train in order to better ascertain its bedrock source ahead of drill testing. With the results of this sampling now received, the geometry of the mineralized boulder train is considerably clearer.

 

The Miranna Area contains a distinct train of niobium-tantalum-phosphate mineralized boulders, which are often large and angular, indicating they have not travelled far from source. Further, the common presence of magnetite in some of the well-mineralized samples suggests the source may have a magnetic signature. Taken collectively, the data indicates that a magnetic high anomaly to the immediate south, which appears to coincide with the boulder train’s apex, may be the bedrock source.

 

https://www.commerceresources.com/assets/2016-09-09-Miranna-Boulder-Train.pdf

 

Of the 64 prospecting rock samples collected from the Miranna Area during the program, a total of 40 returned Nb2O5 grades in excess of 0.5%, with 16 in excess of 1% to a peak of 5.9% Nb2O5. In addition, significant grades of tantalum (Ta2O5), phosphate (P2O5), and rare earth oxide (REO) were also returned from the same samples (see Table 1 below).

 

Table 1 – Select Mineralized Boulder Sample Results from the Miranna Area

 

Sample ID

Nb2O5 (%)

Ta2O5 (ppm)

P2O5 (%)

TREO (%)(1)

MH/T (%)(2)

139977

5.93

310

11.5

0.72

12.7

116702

4.24

160

11.9

0.64

9.9

118014

1.94

380

9.9

0.40

12.6

116681

1.65

60

8.0

0.37

10.0

118010

1.57

1,220

10.6

0.46

14.4

116680

1.52

70

11.8

0.50

12.4

116685

1.48

100

10.9

0.38

11.5

139980

1.06

1,040

11.1

0.53

11.8

116718

1.04

670

9.1

0.39

11.8

 

(1)     All samples are from boulders

 

(2)    Ta2O5 and Nb2O5 are analyzed by XRF with a detection limit of 10 ppm

 

(3)    TREO is the summation of Ce2O3 + La2O3 + Pr2O3 + Nd2O3 + Eu2O3 + Sm2O3 + Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3

 

(4)    MH/T is the sum of the middle and heavy rare earth oxides (Eu2O3 + Sm2O3 + Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3) divided by TREO, expressed as a per cent

 

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.

 

Miranna is a multi-commodity target area, with high-grade tantalum and phosphate mineralization commonly associated with the niobium. Two samples from the recent program assayed greater than 1,000 ppm Ta2O5 and >1% Nb2O5, with samples often exceeding 10% P2O5. Additionally, appreciable rare earth element mineralization is commonly associated with the niobium and is also enriched in the middle and heavy REOs.

 

The mineralogy of the Miranna Area samples is highly favourable. Previous mineralogical work on the carbonatite complex indicates that the niobium and tantalum mineralization present is hosted by the mineral pyrochlore, which is the dominant mineral source of niobium globally. Further, much of the pyrochlore is visible to the naked eye, thus indicating a relatively course grain size which is advantageous to metallurgical recovery.

 

The Ashram Deposit was discovered using the same exploration principles currently being applied at Miranna, that being the effective identification and tracing of a well-mineralized, glacially dispersed boulder train back to its bedrock source. With the postulated source of the Miranna Area boulder train now further delineated, the next step is drill testing.  

 

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.

 

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 globally. 

 

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.

 

“Chris Grove”

Chris Grove
President
Tel:  604.484.2700

 

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 and are not limited to the data indicating a magnetic high to the south; the anomaly appears to coincide with the boulder train’s apex and may be the bedrock source; statements that course grain size would be advantageous to metallurgical recovery.  These forward-looking statements 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 changing costs for mining and processing; increased capital costs; 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 limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets 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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/commerce09122016.pdf

Source: Commerce Resources Corp. (TSX Venture:CCE, OTCQX:CMRZF, FWB:D7H)

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