Vancouver, British Columbia (FSCwire) - Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the “Company” or “Commerce”) is pleased to report that, in accordance with National Instrument 43-101 (“NI 43-101”), a Technical Report on the Niobium Claim Group Property has been completed and filed by Saville Resources Inc. (“Saville”). The Technical Report provides a concise overview of the property and its exploration potential and may be accessed through the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

 

The Niobium Claim Group Property is comprised of a sub-set of the Eldor Property claims and is under the Exploration Earn-in Agreement (the “Agreement”) with Saville, whereby Saville may earn up to a 75% interest, subject to certain terms and conditions including TSX Venture Exchange Approval (see news release dated January 11, 2018).

 

The Southeast Area is the most advanced prospect on the 26-claim group, with drill intercepts including 0.82% Nb2O5 over 21.9 m and 1.09% Nb2O5 over 5.8 m in drill holes EC10-033 and 040, respectively. These strongly mineralized intercepts have yet to be followed-up and, along with Miranna, are considered high-priority exploration targets by the Company.

 

The drilling at the Star Trench Area, completed in 2008 and 2010 by the Company, has returned some of the strongest tantalum drill intercepts to date on the Niobium Claim Group Property, including 454 ppm Ta2O5 over 7.8 m and 632 ppm Ta2O5 over 3.8 m in drill hole EC08-025. These drill intercepts, also associated with moderate niobium and strong phosphate mineralization, were returned from relatively shallow depths (<50 m core length) with only limited follow-up drilling completed. This follow-up drilling, completed in 2010, consisted of three (3) drill holes totalling 494 m and returned some of the highest-grade individual core samples collected to date from the property, including 1.69% Nb2O5, 2,220 ppm Ta2O5, and 20.5% P2O5 over 0.3 m (sample 84321).

 

Saville is planning a fall surface program on the claim group, consisting of prospecting and rock sampling, and a ground magnetic survey to further delineate the mineralized horizon. The work will be conducted by Dahrouge Geological Consulting Ltd. with the primary objective of the program to further refine drill hole locations ahead of drilling planned for the first half of 2019.

 

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 Ashram Rare Earth Element Deposit in Quebec and the Upper Fir Tantalum-Niobium Deposit in British Columbia.

 

For more information, please visit the corporate website at http://www.commerceresources.com 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:    http://www.commerceresources.com

 

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 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 statement. 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 the original release, please click here

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

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