VANCOUVER, BC / ACCESSWIRE / March 1, 2022 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) (the "Company" or "Commerce") is pleased to announce assay results received for the final two (2) holes completed at the Ashram Rare Earth and Fluorspar Deposit ("Ashram Deposit") as part of the 2021 drill program. The field program, completed in July-August 2021 in support of the Ashram Project's Prefeasibility Study, included twelve (12) drill holes totaling 2,814 m focused on resource infill within the planned open-pit shell. Results for the first ten (10) drill holes were announced December 22nd, 2021, and January 17 and February 7, 2022 (Table 1 and Figure 1) with the results for the final two (2) drill holes reported herein. Highlights include:
- 1.82% rare earth oxide ("REO") over 225.4 m (EC21-192), including,
- 1.71% REO over 147.8 m (EC21-189), including,
The primary objective of the 2021 drill program at Ashram was to improve the confidence of the mineral resource (inferred -> indicated -> measured) in support of an updated mineral resource estimate to be completed as part of the ongoing Prefeasibility Study, which will also determine the initial mineral reserve estimate for the Ashram Project. Based on the drilling to date, the Company anticipates a large portion of Ashram's current inferred and indicated resources will be converted to indicated and measured resources.
Company President Chris Grove states "We are excited to finally have all of these drill results returned to us, as they are excellent and are indicative of the huge and well mineralized deposit that the Ashram is. With the REE industry being more focused on monazite dominant mineralogy, as the Ashram is, we look forward to releasing more results from the other programs that are currently underway."
Both drill holes (EC21-189 and 192) were collared in the south-central portions of the deposit, and intersected grades consistent with previous drilling, remaining mineralized over their entire length. Strong NdPr distributions (i.e. % of Nd+Pr oxide of the total REO) continue to be returned in excess of 20-21%, including drill hole EC21-192 with 129.5 m of 2.07% REO at an NdPr distribution of 21.5%. Core sample assays for all twelve (12) drill holes completed during the 2021 drill program have now been received, with grade over width and corresponding NdPr oxide distributions presented in Table 1, and drill hole highlights and locations presented in Figure 1.
Table 1: 2021 assay results for infill drill holes at the Ashram Deposit
As the Ashram Deposit is known to continue for more than 600 m in depth, and remains open, the 2021 drill holes were ended at pre-determined depths below the anticipated pit shell, and therefore, most holes completed as part of the infill drilling at Ashram ended in mineralization.
The results of the 2021 drill program continue to highlight the size of the Ashram Deposit as well as continuity of the REE mineralization, extending from surface to considerable depth. The Company is planning to complete an approximate 2,500 m drill program this summer at Ashram and will focus on continued infill to improve the confidence of the mineral resource (inferred -> indicated -> measured), as well as on the southern portion of the deposit where limited drilling has been completed by comparison and the deposit remains open.
The Company notes that it carried out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. The Company successfully navigated the process to obtain authorization to enter Nunavik, and no cases of COVID-19 were documented relating to its 2021 mineral exploration programs. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.
Quality Assurance / Quality Control (QAQC)
A quality assurance / quality control protocol following industry best practices was incorporated into the program and included systematic insertion of quartz blanks and certified reference materials into sample batches, as well as collection of quarter-core duplicates, at a rate of approximately 5%. Drill holes were sampled from top to bottom and shipped to Activation Laboratories in Ancaster, ON, for analysis.
Lab analysis included major oxides and multi-element, including the rare earth elements, by ICP-OES/MS following a lithium borate fusion (package 8-REE) and fluorine by Fusion Specific Ion Electrode-ISE (Code 4F-F). Standard drill core sample preparation was completed and comprised of crushing to 80% passing 10 mesh, followed by a 250 g riffle split and pulverizing to 95% passing 105 µ (package RX1).
Figure 1: 2021 drill assay highlights - Ashram Deposit
About the Ashram Deposit
The Ashram Deposit ranks as one of the largest REE (and fluorspar) deposits globally, consisting of a monazite dominated, single mineralized body outcropping at surface, and has a footprint approximately 600 m along strike, over 300 m across, and 600 m deep, remaining open in several directions. The deposit hosts a measured resource of 1.6 million tonnes (Mt) at 1.77% rare earth oxide (REO) and 3.8% F, an indicated resource of 27.7 Mt at 1.90% REO and 2.9% F, and an inferred resource of 219.8 Mt at 1.88% REO and 2.2% F, at a cut-off grade of 1.25% REO (Effective Date July 5th, 2012). Note, mineral resources are not mineral reserves as they do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the Ordre des Géologues du Québec and 'Qualified Person' as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.
For more information, please visit the corporate website at or email info@commerceresources.com.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"Chris Grove"
Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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 statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this news release include that we expect to complete an updated mineral resource estimate and a prefeasibility study for the Ashram Project, that we anticipate that certain of Ashram's inferred and indicated resources will be converted to indicate and measured resources; that an open-pit shell is planned for the Ashram Project; and that the Company is positioning to be one of the lowest cost rare earth producers globally. 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: that we may not be able to fully finance any additional exploration on the Ashram Project; that even if we are able raise capital, costs for exploration activities may increase such that we may not have sufficient funds to pay for such exploration or processing activities; the timing and content of any future work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further test work, may not be comparable; testing of our process may not prove successful and even if such tests are successful, the economic and other outcomes may not be as expected; the availability of labour and equipment to undertake future exploration work and testing activities; the required permits to build and operate the envisaged open-pit shell may not be obtained in a timely or cost-effective manner, or at all; and despite the current expected viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on the Ashram Project, the project may not be commercially viable; The forward-looking statements contained in this news release are made 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.
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不列颠哥伦比亚省温哥华/ACCESSWIRE/2022年3月1日/商业资源公司(多伦多证券交易所:CCE)(FSE: D7H0)(OTCQX: CMRZF)(“公司” 或 “商务部”)欣然宣布,作为2021年钻探计划的一部分,在Ashram稀土和氟石矿床(“Ashram矿床”)完成的最后两(2)个孔的化验结果已收到。该实地项目于 2021 年 7 月至 8 月完成,旨在支持 Ashram 项目的预可行性研究,其中包括十二 (12) 个钻孔,总长达 2,814 米,重点是计划中的露天地壳内的资源填充。12月22日公布了前十 (10) 个钻孔的结果和,2021年以及2022年1月17日和2月7日(表1和图1),以及此处报告的最后两(2)个钻孔的结果。亮点包括:
- 超过 225.4 m(EC21-192)的稀土氧化物(“REO”)为 1.82%,包括
- 1.71% 的 REO 超过 147.8 m (EC21-189),包括
Ashram2021年钻探计划的主要目标是提高矿产资源的信心(推断->表示->测量),以支持作为正在进行的预可行性研究的一部分完成的最新矿产资源估算,该评估还将确定Ashram项目的初始矿产储量估算。根据迄今为止的钻探情况,该公司预计,Ashram目前的推断和指示资源中有很大一部分将转换为指示和测量资源。
公司总裁克里斯·格罗夫说 “我们很高兴终于将所有这些钻探结果返回给我们,因为它们非常好,表明Ashram是一个巨大且矿化良好的矿床。随着稀土元素行业越来越关注独居石占主导地位的矿物学,就像Ashram一样,我们期待从目前正在进行的其他项目中发布更多成果。”
两个钻孔(EC21-189 和 192)都位于矿床的中南部,相交的品位与之前的钻探一致,在整个长度上都保持矿化状态。强的 NdPR 分布(即占总 REO 中 Nd+Pr 氧化物的百分比)的返回率继续超过 20-21%,其中包括钻孔 EC21-192,其中 129.5 m 的 REO 含量为 2.07%,NdPR 分布为 21.5%。现已收到2021年钻探计划期间完成的所有十二 (12) 个钻孔的岩心样本化验,表1列出了宽度上的品位和相应的NdPr氧化物分布,图1显示了钻孔亮点和位置。
表 1:2021 年 Ashram 矿床填充钻孔的化验结果
众所周知,Ashram矿床的深度将持续超过600米,并且仍然处于开放状态,因此2021年的钻孔以预先确定的深度结束,低于预期的矿井壳,因此,作为Ashram填充钻探的一部分而完成的大多数钻孔都以矿化告终。
2021 年钻探计划的结果继续凸显了 Ashram 矿床的规模以及从地表延伸到相当深度的稀土矿化的连续性。该公司计划于今年夏天在Ashram完成大约2500米的钻探计划,并将重点放在持续的填充上,以提高矿产资源的信心(推断->表示->测量),以及矿床的南部,相比之下,该矿床已经完成了有限的钻探,矿床仍处于开放状态。
该公司指出,它在执行实地计划的同时遵守了由于 COVID-19 疫情而实施的所有联邦、省和地区限制。该公司成功完成了获得进入努纳维克许可的程序,没有记录与其 2021 年矿产勘探计划有关的 COVID-19 病例。矿产勘探已被加拿大和魁北克省公认为一项基本服务。
质量保证/质量控制 (QAQC)
该计划纳入了遵循行业最佳实践的质量保证/质量控制协议,包括系统地将石英坯料和经认证的参考材料插入样品批次中,并收集四分之一核心副本,比例约为5%。从上到下对钻孔进行采样,然后运往安大略省安卡斯特的活化实验室进行分析。
实验室分析包括主要氧化物和多元素,包括稀土元素,由硼酸锂(封装8-REE)和聚变特异离子电极-ISE(代码 4F-F)聚变后的氟化合物。标准钻芯样品制备工作已经完成,包括破碎至 80%,通过 10 目,然后进行 250 g 的裂片分割,然后粉碎至 95%,通过 105 µm(包装 RX1)。
图 1:2021 年钻探分析亮点——静修所存款
关于 Ashram 存款
Ashram 矿床是全球最大的稀土矿(和萤石)矿床之一,由以独居石为主、在地表露出的单一矿化体组成,其足迹沿走向约为 600 m,横跨超过 300 m,深 600 m,向多个方向开放。该矿床的测得资源量为160万吨,稀土氧化物(REO)为1.77%,华氏度为3.8%,稀土氧化物浓度为3.8%,稀土氧化物浓度为2770万吨,REO为2.9%,推断资源量为2.198万吨,REO为1.88%,REO的截止品位为1.25%(生效日期:7月5日)第四,2012)。注意,矿产资源不是矿产储备,因为它们没有表现出经济可行性。目前尚不确定全部或任何部分矿产资源是否会转化为矿产储量。
NI 43-101 披露
Darren L. Smith,理学硕士,P.Geo.,Dahrouge Geologues Ltd.,魁北克地质学勋章的许可证持有者,也是国家仪器 43-101 中定义的 “合格人员”- 矿产项目披露标准,监督了本新闻稿中技术信息的编写。
关于商业资源公司
Commerce Resources Corp. 是一家初级矿产资源公司,专注于开发位于加拿大魁北克的阿什拉姆稀土和氟石矿床。该公司定位成为全球成本最低的稀土生产商之一,特别关注成为全球市场混合稀土碳酸盐和/或氧化钕铁的长期供应商。Ashram矿床的特点是简单的稀土(独居石、bastnaesite、xenotime)和脉石(碳酸盐)矿物学,是品位有利的大吨位资源,并已证明可以生产高回收率(> 70%)的高品位(> 45% REO)矿物精矿,与活跃的全球生产商一致。除了是全球最大的稀土矿床之一外,Ashram还是全球最大的萤石矿床之一,有可能成为金属晶石和酸晶石市场的长期供应商。
欲了解更多信息,请访问公司网站或发送电子邮件至 info@commerceresources.com。
代表董事会
商业资源公司
“克里斯·格罗夫“
克里斯·格罗夫
总裁兼主任
电话:604.484.2700
电子邮件:cgrove@commerceresources.com
网页:
多伦多证券交易所风险交易所及其监管服务提供商(该术语在多伦多证券交易所风险交易所的政策中定义)均不对本新闻稿的充分性或准确性承担责任。
前瞻性陈述
本新闻稿包含前瞻性陈述,其中包括有关公司认为、预期或预期未来将发生或可能发生的活动、事件或事态发展的任何信息。本新闻稿中的前瞻性声明包括:我们预计将完成最新的矿产资源估算和阿什拉姆项目的预可行性研究;我们预计阿什拉姆的某些推断和指示资源将转化为指示和测得的资源;计划为阿什拉姆项目建造露天外壳;该公司将成为全球成本最低的稀土生产商之一。这些前瞻性陈述受各种风险和不确定性以及其他因素的影响,这些因素可能导致实际事件或结果与前瞻性信息中的预测存在重大差异。可能改变或阻止这些声明实现的风险包括:我们可能无法为阿什拉姆项目的任何额外勘探提供全额资金;即使我们能够筹集资金,勘探活动成本也可能增加,以至于我们可能没有足够的资金来支付此类勘探或加工活动;任何未来工作计划的时间和内容;基于钻探的地质解释,随着更详细的信息可能会发生变化;潜在的加工方法和矿物开采基于假设在有限的测试工作上,与被视为类似的矿床进行比较,如果进行进一步的测试工作,这些矿床可能无法进行比较;对我们工艺的测试可能不成功,即使这些测试成功,经济和其他结果也可能不如预期;有劳动力和设备来进行未来的勘探工作和测试活动;建造和运营所设想的露天壳体所需的许可证可能无法及时或具有成本效益的方式获得,甚至根本无法获得建造和运营所设想的露天壳体所需的许可证;尽管目前的预期可行性Ashram Project,条件不断变化,即使在阿什拉姆项目中发现了金属或矿物,该项目在商业上也可能不可行;本新闻稿中包含的前瞻性陈述是截至本新闻稿发布之日作出的,除非法律要求,否则公司不承担更新或修改此类信息以反映新事件或情况的责任。
来源:商业资源公司
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