Commerce Resources Corp. completes drill program at the Ashram Rare Earth Deposit, Northern Quebec
The drill program, which commenced in late March, has been completed on schedule and under budget.
Final demobilization of field crews is underway. Twelve drill holes were completed for a total of 1,556.61 metres. The drill holes at the Ashram Deposit included:
1. Nine holes completed as infill on the Ashram Deposit over Centre Pond, focusing on the MHREO Zone, and
2. Three short geotechnical holes completed peripheral to the deposit to assess the preferred location of the dyke to be emplaced on Centre Pond.
A map illustrating the location of the 2014 drill holes may be viewed here.
Infill Drilling
The infill drill program was successful with all nine drill holes (1,494.56 metres) collaring in mineralization that continued over their entire length. Each infill drill hole was intentionally ended at a set depth below the base of the proposed pit bottom resulting in each hole bottoming in mineralization. Further, mineralogical and lithological information from several drill holes strongly indicate that the MHREO Zone was intersected over significant widths. Samples are en route to Activation Laboratories of Ancaster, Ontario for analysis. Results will be released when received.
Geotechnical Drilling
Three short geotechnical holes (total of 62.05 metres) were completed to the east of the deposit; two on Centre Pond and one on land. Information collected included soil type, depth to bedrock, and assessment of bedrock type and competency, which will assist in determining if the proposed dyke location would be adequate. Preliminary results appear positive with information currently being assessed by Roche Ltd.
Additionally, the Company is informed that Secutor Capital Management Corp., an Ontario based licensed investment advisor and broker, has initiated coverage on Commerce Resources. It is the policy of Commerce Resources not to comment on any report, analysis or coverage by registered financial analysts regarding any aspect of our Company.
The Ashram Deposit has 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, based on 57 holes and 16,868 metres drilled. (See news release dated May 24, 2012).
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 Upper Fir Tantalum and Niobium Deposit in British Columbia and the Ashram Rare Earth Element Deposit in Quebec.
