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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不列顛哥倫比亞省溫哥華/ACCESSWIRE/2022年3月1日/商業資源公司(多倫多證券交易所:CCE)(FSE: D7H0)(OTCQX: CMRZF)(“公司” 或 “商務部”)欣然宣佈,作爲2021年鑽探計劃的一部分,在Ashram稀土和氟石礦牀(“Ashram礦牀”)完成的最後兩(2)個孔的化驗結果已收到。該實地項目於 2021 年 7 月至 8 月完成,旨在支持 Ashram 項目的預可行性研究,其中包括十二 (12) 個鑽孔,總長達 2,814 米,重點是計劃中的露天地殼內的資源填充。12月22日公佈了前十 (10) 個鑽孔的結果和,2021年以及2022年1月17日和2月7日(表1和圖1),以及此處報告的最後兩(2)個鑽孔的結果。亮點包括:
- 超過 225.4 m(EC21-192)的稀土氧化物(“REO”)爲 1.82%,包括
- 1.71% 的 REO 超過 147.8 m (EC21-189),包括
Ashram2021年鑽探計劃的主要目標是提高礦產資源的信心(推斷->表示->測量),以支持作爲正在進行的預可行性研究的一部分完成的最新礦產資源估算,該評估還將確定Ashram項目的初始礦產儲量估算。根據迄今爲止的鑽探情況,該公司預計,Ashram目前的推斷和指示資源中有很大一部分將轉換爲指示和測量資源。
公司總裁克里斯·格羅夫說 “我們很高興終於將所有這些鑽探結果返回給我們,因爲它們非常好,表明Ashram是一個巨大且礦化良好的礦牀。隨着稀土元素行業越來越關注獨居石占主導地位的礦物學,就像Ashram一樣,我們期待從目前正在進行的其他項目中發佈更多成果。”
兩個鑽孔(EC21-189 和 192)都位於礦牀的中南部,相交的品位與之前的鑽探一致,在整個長度上都保持礦化狀態。強的 NdPR 分佈(即佔總 REO 中 Nd+Pr 氧化物的百分比)的返回率繼續超過 20-21%,其中包括鑽孔 EC21-192,其中 129.5 m 的 REO 含量爲 2.07%,NdPR 分佈爲 21.5%。現已收到2021年鑽探計劃期間完成的所有十二 (12) 個鑽孔的岩心樣本化驗,表1列出了寬度上的品位和相應的NdPr氧化物分佈,圖1顯示了鑽孔亮點和位置。
表 1:2021 年 Ashram 礦牀填充鑽孔的化驗結果
衆所周知,Ashram礦牀的深度將持續超過600米,並且仍然處於開放狀態,因此2021年的鑽孔以預先確定的深度結束,低於預期的礦井殼,因此,作爲Ashram填充鑽探的一部分而完成的大多數鑽孔都以礦化告終。
2021 年鑽探計劃的結果繼續凸顯了 Ashram 礦牀的規模以及從地表延伸到相當深度的稀土礦化的連續性。該公司計劃於今年夏天在Ashram完成大約2500米的鑽探計劃,並將重點放在持續的填充上,以提高礦產資源的信心(推斷->表示->測量),以及礦牀的南部,相比之下,該礦牀已經完成了有限的鑽探,礦牀仍處於開放狀態。
該公司指出,它在執行實地計劃的同時遵守了由於 COVID-19 疫情而實施的所有聯邦、省和地區限制。該公司成功完成了獲得進入努納維克許可的程序,沒有記錄與其 2021 年礦產勘探計劃有關的 COVID-19 病例。礦產勘探已被加拿大和魁北克省公認爲一項基本服務。
質量保證/質量控制 (QAQC)
該計劃納入了遵循行業最佳實踐的質量保證/質量控制協議,包括系統地將石英坯料和經認證的參考材料插入樣品批次中,並收集四分之一核心副本,比例約爲5%。從上到下對鑽孔進行採樣,然後運往安大略省安卡斯特的活化實驗室進行分析。
實驗室分析包括主要氧化物和多元素,包括稀土元素,由硼酸鋰(封裝8-REE)和聚變特異離子電極-ISE(代碼 4F-F)聚變後的氟化合物。標準鑽芯樣品製備工作已經完成,包括破碎至 80%,通過 10 目,然後進行 250 g 的裂片分割,然後粉碎至 95%,通過 105 µm(包裝 RX1)。
圖 1:2021 年鑽探分析亮點——靜修所存款
關於 Ashram 存款
Ashram 礦牀是全球最大的稀土礦(和螢石)礦牀之一,由以獨居石爲主、在地表露出的單一礦化體組成,其足跡沿走向約爲 600 m,橫跨超過 300 m,深 600 m,向多個方向開放。該礦牀的測得資源量爲160萬噸,稀土氧化物(REO)爲1.77%,華氏度爲3.8%,稀土氧化物濃度爲3.8%,稀土氧化物濃度爲2770萬噸,REO爲2.9%,推斷資源量爲2.198萬噸,REO爲1.88%,REO的截止品位爲1.25%(生效日期:7月5日)第四,2012)。注意,礦產資源不是礦產儲備,因爲它們沒有表現出經濟可行性。目前尚不確定全部或任何部分礦產資源是否會轉化爲礦產儲量。
NI 43-101 披露
Darren L. Smith,理學碩士,P.Geo.,Dahrouge Geologues Ltd.,魁北克地質學勳章的許可證持有者,也是國家儀器 43-101 中定義的 “合格人員”- 礦產項目披露標準,監督了本新聞稿中技術信息的編寫。
關於商業資源公司
Commerce Resources Corp. 是一家初級礦產資源公司,專注於開發位於加拿大魁北克的阿什拉姆稀土和氟石礦牀。該公司定位成爲全球成本最低的稀土生產商之一,特別關注成爲全球市場混合稀土碳酸鹽和/或氧化釹鐵的長期供應商。Ashram礦牀的特點是簡單的稀土(獨居石、bastnaesite、xenotime)和脈石(碳酸鹽)礦物學,是品位有利的大噸位資源,並已證明可以生產高回收率(> 70%)的高品位(> 45% REO)礦物精礦,與活躍的全球生產商一致。除了是全球最大的稀土礦牀之一外,Ashram還是全球最大的螢石礦牀之一,有可能成爲金屬晶石和酸晶石市場的長期供應商。
欲了解更多信息,請訪問公司網站或發送電子郵件至 info@commerceresources.com。
代表董事會
商業資源公司
“克里斯·格羅夫“
克里斯·格羅夫
總裁兼董事
電話:604.484.2700
電子郵件:cgrove@commerceresources.com
網頁:
多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所風險交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
前瞻性陳述
本新聞稿包含前瞻性陳述,其中包括有關公司相信、預期或預計將要或可能在未來發生的活動、事件或發展的任何信息。本新聞稿中的前瞻性陳述包括,我們預計將完成最新的礦產資源估算和Ashram項目的預可行性研究,我們預計Ashram的某些推斷和指示資源將被轉換爲指示和測量資源;計劃爲Ashram項目建造露天外殼;該公司有望成爲全球成本最低的稀土生產商之一。這些前瞻性陳述受各種風險和不確定性以及其他因素的影響,這些因素可能導致實際事件或結果與前瞻性信息中預測的事件或結果存在重大差異。可能改變或阻止這些陳述得以實現的風險包括:我們可能無法爲Ashram項目的任何額外勘探提供全額資金;即使我們能夠籌集資金,勘探活動的成本也可能增加,以至於我們可能沒有足夠的資金來支付此類勘探或加工活動的費用;未來任何工作計劃的時間和內容;基於鑽探的地質解釋可能會隨着更詳細的信息而發生變化;潛在的工藝方法和礦產回收率基於假設在有限的試驗工作中,與被視爲類似礦牀的比較,經過進一步的試驗工作可能無法比較;對我們的工藝的測試可能不成功,即使這些測試成功,經濟和其他結果也可能不如預期;未來進行勘探工作和測試活動的勞動力和設備的可用性;建造和運營所設想的露天殼體所需的許可證可能無法及時或根本不具成本效益,或者根本無法獲得建造和運營所設想的露天殼體所需的許可證,或者根本無法獲得建造和運營所設想的露天殼體所需的許可證,或根本無法獲得或根本不具成本效益;儘管目前的預期可行性Ashram Project,條件不斷變化,即使在Ashram項目中發現了金屬或礦物,該項目也可能不具有商業可行性;本新聞稿中包含的前瞻性陳述自本文發佈之日起作出,除非法律要求,否則公司不負責更新或修改此類信息以反映新的事件或情況。
來源:商業資源公司
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