Commerce Resources Corp. provides an overview of the pending 2013 field program at its 100% owned Ashram Rare Earth Element Deposit located in Northern Quebec.
Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) reports that it is nearing completion of its winter drilling program at the Ashram Rare Earth Element Deposit at the Eldor Property in northern Quebec.
The drilling was designed to expand the deposit by testing the northeastern half of the Ashram Zone as well as expanding its depth extent with deeper drilling. Drilling also aimed to continue to define areas where significant near-surface enrichment in the valuable, middle and heavy REEs were encountered in 2010.
Commerce Resources Corp. announces the results for the 3 remaining drill holes from the 2015 winter/spring drill program at the Ashram Rare Earth Deposit located in northern Quebec.
Iron Road Limited (Iron Road, ASX: IRD) has released a copy of the presentation Larry Ingle, the General Manager of Iron Road, gave to the 11th South Australian Exploration and Mining Conference, Adelaide.
Commerce Resources Corp. issued a news release to clarify and correct disclosures about its preliminary economic assessments of rare earth element deposits. The company did not properly disclose cautionary language regarding the preliminary and speculative nature of the assessments. It also failed to specify metrics were pre-tax and did not report measured and indicated resource quantities separately. The company has removed outdated presentations and modified disclosures on its website to provide clear and compliant statements regarding the preliminary assessments and resource estimates.
Berkwood Resources Ltd. is a Canadian junior exploration company focused on graphite and gold projects in Quebec. The company's key project is the Lac Guéret Extensions Graphite Project, located adjacent to Mason Graphite's advanced Lac Guéret Project. Airborne and ground geophysics at Lac Guéret Extensions identified large electromagnetic anomalies similar to those hosting graphite mineralization at Lac Guéret. Berkwood plans trenching and drilling to evaluate the anomalies for bulk tonnage graphite potential. The company is also reviewing new business opportunities to grow.
The presentation summarizes Sage Gold's plans to develop the near-term production potential of its Clavos gold deposit in Timmins, Ontario through 2023. Key points include:
1) Sage Gold aims to begin initial production at Clavos in 2013 to generate cash flow, utilizing existing infrastructure from a partnership with St. Andrew Goldfields.
2) A new NI 43-101 resource estimate and preliminary economic assessment is planned for Q4 2012 to advance the project.
3) The deposit remains open along strike and at depth, representing potential to significantly increase resources through further drilling.
4) Strategic partnerships provide low-cost access to mining and milling facilities near the project.
Copper North Mining - Corporate Presentation - October 22, 2015coppernorthmining
Copper North Mining Corp. (TSX.V:COL) is a Canadian mining exploration and development company, spun out from Western Copper Corporation (TSX:WRN) in October 2011. Copper North's key asset is the Carmacks Copper Project, located in the Yukon Territory, Canada. Carmacks is permitted for construction and will produce 30 million pounds of cathode copper per year. The project is being re-engineered as a copper-gold-silver leach operation. A Preliminary Economic Assessment was completed in May 2014 and indicates that the addition of gold and silver recovery provides a positive improvement in project economics. A second phase of engineering work is in progress to evaluate opportunities to further improve operations and reduce capital and operating costs. The company intends to resume exploration of the Carmacks deposits to increase mineral resources for inclusion in the mine plan, and expansion of mine life.
The Company has also recently acquired the Thor property, immediately south of the Kemess Mine in north central British Columbia. Thor provides Copper North with an attractive exploration and discovery opportunity adjacent a major dormant mine-mill complex. An exploration program, including drilling of porphyry copper-gold targets, is planned for summer 2015.
Copper North also holds the high-grade Redstone property located in the Northwest Territories, Canada.
Commerce Resources Corp. (TSXv: CCE) announced an update on the drill program currently underway at its
100% owned Ashram Rare Earth Deposit located in northern Quebec.
A total of seven holes have been completed with a focus along the eastern side of the near surface mineralization over Centre Pond, straddling the eastern contact of the deposit. The holes completed to date are NQ in diameter with depths ranging from approximately 80 to 160 m to
coincide with end-of-hole depths targeted below the level of the deepest Whittle pit shell identified in the Preliminary Economic Assessment (PEA) (effective date of July 5, 2012; revised January 7, 2015). The preliminary economic assessment is preliminary in nature, in that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as reserves.
Aurora Gold Corporation (OTCQB: ARXG) is an American listed mineral exploration company focusing on exploration and development in the Tapajos Gold Province, State of Para, Brazil.
Aurora holds tenements in a strategic land package of 4 exploration licenses and 2 applications covering approximately 16,500 hectares. The tenements are grouped together and referred to as the Săo Domingos project.
The two applications are strategically located around the Săo Domingos and the adjoining Atacadau projects to unify the whole area and create a strategic land package. In February 2012 a new occurrence, named Toucano, located in the same vicinity as the Fofoca area containing an inferred JORC compliant resource of 130,000 ounces @ 2 g/t, contains a series of areas delineated as having potential to host significant mineralisation.
Teranga Gold Corporation held a presentation focused on delivering growth at the Denver Gold Forum on September 17, 2014. The presentation summarized Teranga's operations, growth opportunities, and financial results for 2014. Key points included doubling reserves and resources through the acquisition of OJVG, integration of Sabodala and Masato operations, and exploration programs identifying additional reserve potential. Production is expected to increase to 250,000-350,000 ounces per year by optimizing operations and integrating assets. The presentation highlighted Teranga's goal of increasing production further to 400,000-500,000 ounces through regional exploration successes and potential additional milling capacity.
Crocodile Gold Corporate Presentation August 15, 2011Crocodile Gold
Crocodile Gold is an Australian gold producer with assets located in the Northern Territory. The company's production is expanding throughout 2021 from open pit mines and the new Cosmo underground mine. Cosmo is expected to contribute 50% of ounces at full production and provide higher grade mill feed. Exploration is also focusing on targets near existing mills that have the potential for near term, low cost production such as at Union Reefs. Crocodile Gold's infrastructure and multiple deposits provide leverage to increasing production and decreasing costs over 2021.
Commerce Resources Corp. (TSXv: CCE) is pleased to announce that a reduction in flowsheet processing steps has been confirmed at the pilot scale for the Company's 100% owned Ashram Rare Earth Deposit.
This document provides an overview and corporate presentation for Champion Iron Mines Ltd., which is developing the next major iron ore mine in the Labrador Trough region of Canada. The presentation summarizes a preliminary feasibility study conducted for the Consolidated Fire Lake North Project, which indicated an average annual production rate of 9.3 million tonnes of iron concentrate over a 20-year mine life. It also outlines the company's mineral resource estimates totaling over 5 billion tonnes of iron ore across its properties in the region. The presentation is aimed at investors and provides details on the project economics, infrastructure advantages, management team, and development timeline.
Crocodile Gold is an Australian gold producer with assets located in the Northern Territory. The company is focused on expanding production through open pit mining at existing operations and developing its underground Cosmo deposit. Crocodile Gold provided production guidance of 85,000 to 100,000 ounces for 2011 and highlighted several catalysts for growth during the year, including initial production from Cosmo in the third quarter and potential production from Pine Creek upon permit approval. The company also discussed its exploration potential from both brownfield and greenfield targets throughout its land package.
Berkwood Resources Ltd. is a Canadian junior exploration company focused on graphite and gold projects in Quebec. It has two main projects - the Lac Guéret Extensions Graphite Project and the Toco Gold Project. The Lac Guéret project borders Mason Graphite's advanced Lac Guéret project and contains two large electromagnetic anomalies that are similar to Mason Graphite's deposits. Berkwood also holds 1 million shares in another mining company and is seeking new opportunities to rebuild the company under new management.
Commerce Resources Corp. (TSXv: CCE) announced that its joint venture partner Canadian International Minerals Inc. (TSXv: CIN) has commenced a 1,000 metre diamond drill program on the Carbo Rare Earth Project in northeastern British Columbia.
Sage Gold is a junior mining company focused on developing its Clavos gold and Lynx copper-silver-gold projects in Ontario, Canada into production to generate cash flow. Key points:
1) Sage plans to initially generate cash flow through developing production at its permitted Clavos gold project, which has an existing resource and positive
Potash Ridge is focused on developing its Blawn Mountain property in Utah to produce premium sulphate of potash (SOP) fertilizer and a high-grade bauxite material byproduct. The project aims to produce 680,000 tonnes of SOP and 3.3 million tonnes of 51% alumina bauxite material annually by 2016 using a simple, proven process. Extensive historical work, including pilot testing of the process, has been completed and reduces development risks. The project benefits from low-cost surface mining of the alunite deposit, proximity to infrastructure, and an experienced management team.
Greenland hosts a large rare earth deposit called the Sarfartoq Carbonatite Complex that contains neodymium. Drilling at the ST1 zone within the complex has identified an initial inferred resource of 14 million tonnes grading 1.5% total rare earth oxides. Drilling continues to expand the zone and identify additional high-grade areas elsewhere in the complex. A preliminary economic assessment found the project to be economically viable and Hudson Resources is advancing the project with further exploration and metallurgical testing in 2012.
Reservoir Minerals is a Canadian-listed project generator company focused on managing exploration risk through multiple early-stage exploration projects in Europe and Africa. In Serbia, the company has two joint ventures, including one with Freeport-McMoRan that has made a blind discovery of potentially large copper-gold mineralization at the Timok project. Reservoir is well funded with $19 million in treasury to advance its projects through exploration and seek additional partnerships.
Commerce Resources Corp. has completed additional metallurgical testing on its Upper Fir Tantalum-Niobium Project in British Columbia. The testing showed that the optimized flotation process developed in previous studies achieved similar recovery rates across different mineral compositions in the deposit. Over 90% of samples tested achieved tantalum recoveries over 96% and niobium recoveries over 92% using this process. An updated mineral resource estimate incorporating all drilling data is underway. The results continue to support the potential development of this project as a long-term source of tantalum and niobium.
Commerce Resources Corp. granted 4.3 million stock options to directors, officers, and consultants of the company at an exercise price of $0.15 per share for five years. The company also repriced 1.985 million stock options issued to consultants from between $0.26 to $0.81 to $0.15 per share, subject to regulatory approval. The repricing and new grants are intended to reflect current market conditions. The TSX Venture Exchange must approve both the repricing and the new stock option grants.
Commerce Resources Corp. (TSXv: CCE) provides an update on work completed at its Blue River Tantalum-Niobium Project since the release of the National Instrument 43-101 compliant Mineral Resource Update for the Upper Fir Deposit. The news updates the geological, engineering, metallurgical and environmental programs carried out.
- Commerce Resources Corp. provided an update on metallurgical advancements for their Ashram Rare Earth Element Deposit in Northern Quebec.
- They have successfully produced mineral concentrates grading between 25-45% Total Rare Earth Oxide through multi-stage beneficiation and flotation at two independent labs.
- Hydrochloric acid leaching of the mineral concentrate followed by magnetic separation has doubled the concentrate grade to over 20% Total Rare Earth Oxide at 97% recovery.
Commerce Resources Corp. has closed two private placements to raise funds for exploration of its tantalum, niobium, and rare earth element projects. It closed a brokered placement of 6,438,890 flow-through units at $0.18 per unit for $1,159,000, and a non-brokered placement of 7,336,664 flow-through units at the same price for $1,320,599.70. The funds will support work on the company's Blue River and Eldor projects in British Columbia and Quebec. Commerce Resources focuses on developing tantalum, niobium, and rare earth deposits with potential for economic grades and large tonnages.
Commerce Resources Corp. (TSXv: CCE) announces additional results from the on-going metallurgical programs on the Company's 100%-owned Ashram Rare Earth Element Deposit. Significant metallurgical advancements have been made since those detailed originally in their November 15, 2012 news release.
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) reports that it will add 1,500 metres (six holes) to the already 3,000 metres drilled
this year at its Eldor Rare Earth Project located in northeastern Quebec. The expanded program
has been driven by the discovery of significant intersections of rare earth elements announced
earlier this year.
Commerce Resources Corp. is pleased to announce that the second phase of the 2015 drill program is underway at its 100% owned Ashram Rare Earth Deposit located in northern Quebec.
Commerce Resources Corp. (TSXv: CCE) provides an update on its Infrastructure Development Plan as part of the ongoing Pre-feasibility Study (PFS) underway for he Ashram Rare Earth Deposit located in northern Quebec.
Commerce Resources Corp. provides an update on the second phase of the 2015 drill program underway at its 100% owned Ashram Rare Earth Deposit located in northern Quebec.
Commerce Resources Corp. has initiated a downstream hydrometallurgical program for its Ashram Rare Earth Deposit to produce a mixed rare earth carbonate product. Testing will be conducted at facilities in Germany and Colorado to optimize mineral processing, complete bench testing of the hydrometallurgical flowsheet, and generate feed for a mini pilot plant to confirm the process on a larger scale. The program aims to increase recovery of total rare earth oxides, reduce acid consumption, and produce approximately 1-2 kg of cerium and lanthanum depleted mixed rare earth carbonate for evaluation.
Commerce Resources Corp. (TSXv: CCE) announced that drilling is underway on the company's Eldor Tantalum-Niobium and Rare Earth Element Project located in northern Quebec. Up to 15 holes totaling 3,000 meters will be completed. The exploration program will also include prospecting, mapping, soil sampling, a ground magnetic survey and trenching.
The document provides 10 reasons to invest in Regulus Resources, including:
1. The team has a history of creating value by converting deposits from small to tier 1 assets, including selling one project for $650 million.
2. Management and directors have invested over $2.6 million in Regulus shares, aligning their interests with shareholders.
3. The project is located in Peru, the second largest copper producing country.
4. There is a clear timeline to potential project monetization between 2025-2030 that ties in with projected shortfalls in copper supply.
Commerce Resources Corp. (TSXv: CCE) announces that the flotation mini-plany is underway using bulk sample material from the company's 100% owned Ashram Rare Earth Deposit in northern Quebec.
The document summarizes the Toroparu Gold-Copper Project located in Western Guyana. It describes the project's large gold and copper resource of over 9 million ounces, potential to expand resources through ongoing exploration, and preliminary plans to develop an open-pit mine producing an average of 275,000 ounces of gold and 21 million pounds of copper annually over a 13-year mine life. The project benefits from good infrastructure and is led by an experienced management team with a track record of building and operating mines in the region.
The document summarizes the Toroparu Gold-Copper Project located in Western Guyana. It describes:
1) The project has a measured and indicated resource of 4.3 million ounces of gold-equivalent and an inferred resource of 5.5 million ounces.
2) Sandspring Resources has established infrastructure at the site including roads, an airstrip, camp, and power that provide access for continued exploration and development.
3) The company plans to continue expanding resources through drilling and has a preliminary mine plan outlined to produce an average of 275,000 ounces of gold and 21 million pounds of copper annually over the life of the mine.
Commerce Resources Corp. (TSXv: CCE) announces the achievement of key metallurgical milestones with the successful completion of a leach mini-pilot plant and the subsequent production of the highest-grade mineral concentrate to date from the Company’s 100% owned Ashram Rare Earth Deposit.
Forbes & Manhattan Coal Corp. is a growing coal producer in South Africa with two operating mines - the Magdalena mine producing bituminous coal and the Aviemore mine producing anthracite coal. The company has a large coal resource base of over 72 million tonnes of bituminous coal and over 50 million tonnes of anthracite coal. In fiscal year 2013, total saleable production was over 958,000 tonnes. The company aims to increase production to over 2 million tonnes per year. Forbes & Manhattan Coal Corp. provides South African and international customers with high quality thermal and energy coal.
Forbes & Manhattan Coal Corp. is a growing coal producer in South Africa with bituminous and anthracite coal operations. It has a total mineable coal resource of 72.5 million tonnes of bituminous coal and 50.8 million tonnes of anthracite coal. The company aims to increase annual saleable production to 2 million tonnes within 3 years by expanding its Magdalena and Aviemore mines. Forbes & Manhattan provides concise summaries of its coal resources, mining operations, production and sales figures, management team, and investment highlights.
Crocodile Gold is focused on accelerating its growth and exploration. It has over 3 million ounces of M&I resources and 2.14 million ounces of inferred resources across its 3,300 square kilometer land package in the Northern Territory of Australia. In 2012, Crocodile Gold forecasts gold production of 75,000-85,000 ounces from its existing open pits and the new Cosmo underground mine, and plans to invest in expanding production and exploration.
Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) announces that it has entered into a Memorandum of Understanding (MOU) with NorFalco Sales, a division of Glencore Canada Corporation.
Under the terms of the MOU, the Company agrees that NorFalco will be the sole provider of the sulphuric acid required for the Ashram Project, at highly competitive market rates and terms. The agreement is binding and is subject to an initial 5 year term and may be re-negotiated thereafter.
Commerce Resources Corp. (TSXv: CCE, FSE: D7H) is pleased to report that its joint venture partner Canadian International Minerals Inc. (CNSX: CIN) has announced an update on exploration activities at the Carbo Project, northeastern British Columbia. Canadian International has engaged Aeroquest Limited to fly a close spaced AeroTEM III-Radiometric-Mag survey over the Carbo property. Field crews currently are continuing the geological mapping and soil sampling program that began in 2009. A permit application for a minimum 1,000 meter diamond drill program has been submitted to the British Columbia Ministry of Energy, Mines and Petroleum Resources.
Crocodile Gold is an Australian gold producer with assets located in the Northern Territory. Key points:
- Producing gold from open pit mines at Howley Trends and North Point, with underground mine Cosmo expected to start contributing mid-2011.
- Guidance for 2011 is 85,000-100,000 ounces of gold production at a cash cost of $875-$975/ounce.
- Exploration potential on over 2,700 sq km of tenements, with indicated resources of over 3 million ounces and inferred resources of over 2 million ounces.
- Key catalysts in 2011 include production from the Cosmo underground mine and potential production from Pine Creek with permits. An aggressive exploration program
Commerce Resources has initiated the second phase of a pilot plant for its Ashram Rare Earth Deposit, which involves leaching bulk flotation concentrate from the first phase. The objective is to demonstrate the leach process on a continuous basis and evaluate performance. Samples will be collected for further analysis. Previous leach testwork has simplified the process by requiring only a minor pH adjustment. The leach residue will feed a subsequent magnetic separation pilot plant to produce high-grade mineral concentrate for downstream processing. Testwork on the magnetic separation has produced mineral concentrates grading 39% and 54% TREO at recovery rates of 85% and 46%, respectively.
Commerce Resources has completed 22 drill holes totaling approximately 2,650 meters at its 100% owned Ashram Rare Earth Deposit in Quebec. The goals of the drilling program are to increase the confidence of the resource from inferred to indicated or measured categories with infill drilling and to complete the necessary geotechnical, hydrogeological, and geomechanical work for an ongoing pre-feasibility study. Initial results from geotechnical drilling indicate favorable overburden depths and characteristics for construction of an access dyke to the east of the deposit. Hydrogeological testing will begin this week to evaluate hydraulic properties of the deposit. The first phase of drilling is expected to be completed in May.
Tiernan Gold is de-risking the Volcan Gold Project located in Chile. They are updating technical studies and the mineral resource estimate to advance the project. Tiernan Gold was created as a private Canadian company to hold the Volcan project and is considering options like a public offering or spin out. The project is located in a prolific gold district in Chile and has over 8.9 million ounces of gold in the measured and indicated categories based on past drilling. Tiernan Gold is conducting optimization studies, metallurgical testing, permitting work and community engagement to de-risk the project for potential development in the future.
Similar to News Release: Commerce Resources Announces 2013 Summer Drill Program at the Ashram Rare Earth Element Deposit (20)
Commerce Resources Corp. announced that it has closed the second tranche of its previously announced short-form prospectus offering and its non-brokered flow-through private placement.
Commerce Resources Corp. (TSXv: CCE; FSE: D7H) is pleased to announce that it has filed an amended and restated final short form prospectus, amending and restating the short form prospectus dated February 25, 2016, with the securities regulatory authorities in the Provinces of British Columbia, Alberta and Ontario in connection with a best efforts offering of units (the “Units”) of the Company at a reduced price of $0.075 per Unit for gross proceeds of a minimum of $1 million and up to a maximum of $3 million.
Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) announces it has been awarded a grant totaling $300,000 from the Fonds de recherche du Québec - Nature et technologie (FRQNT) and the Ministère de l’Énergie et des Ressources naturelles (MERN). These funds will be directed to the optimization of tailings management for the Ashram Rare Earth Element Deposit in Quebec.
Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) announces that it has completed a preliminary evaluation of local and regional wind data to the west of Lac LeMoyne, indicating favourable wind speeds for renewable power development as part of the Ashram Rare Earth Project’s energy requirements.
Commerce Resources Corp. (TSXv: CCE; FSE: D7H) is pleased to announce that it has filed on February 26, 2016, a final short form prospectus with the securities regulatory authorities in the Provinces of British Columbia, Alberta and Ontario in connection with a best efforts offering of units (the “Units”) of the Company at a price of $0.10 per Unit for gross proceeds of a minimum of $1 million and up to a maximum of $3 million (the “Offering”). The Company has granted the agent an over-allotment option to sell up to an additional 15% of the Offering on the same terms and conditions, exercisable at any time following the closing of the Offering for a period of 30 days.
Commerce Resources Corp. closed a second tranche of a non-brokered private placement, raising an additional $323,796 through the sale of 2,943,600 flow-through shares. In total across both tranches, the company raised $1,974,225 from the sale of 17,947,500 flow-through shares. The proceeds will be used to fund qualified exploration expenditures at the company's mineral properties in Quebec, including its Ashram Rare Earth Element Deposit. Commerce Resources Corp. is focused on the development of rare metal and rare earth deposits in Quebec and British Columbia.
Commerce Resources Corp. (TSXv: CCE) announced that it has closed a first tranche of a non-brokered private placement for gross proceeds of $1,650,429. The proceeds of the private placement will be used in qualified exploration expenditures at the Company's mineral properties in Quebec.
Commerce Resources Corp. announces a non-brokered private placement of up to 23 million flow-through shares at $0.11 per share, for gross proceeds of up to $2.53 million. The proceeds will be used to fund exploration at the company's Ashram Rare Earth Element Deposit in Quebec. The private placement is subject to TSX Venture Exchange approval. Commerce Resources is focused on developing its Ashram and Blue River rare metal deposits in Quebec and British Columbia.
Commerce Resources Corp. (TSXv: CCE) announces that it has received the 2015 e3 Plus Award, presented annually by the Association de l'exploration minière du Québec (AEMQ), for its work in advancement of the Ashram Rare Earth Project in Northern Quebec.
Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX:
CMRZF) is pleased to announce results for an additional eleven drill holes from the recently completed winter/spring drill program at the Ashram Rare Earth Deposit located in northern Quebec.
Highlights are as follows:
- 199.11 metres (m) of 1.98% TREO(1), including 45.42 m of 2.44% TREO (EC15-129)
- 149.42 m of 1.88% TREO, including 43.87 m of 2.20% TREO (EC15-139)
- Expansion of rare earth element (REE) mineralization south, and potentially north, of the Ashram Deposit
Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) reports the completion of a recent round-table session in Kuujjuaq, as well as a project site visit, attended by several key Inuit organizations as part of its ongoing community dialogue and information exchange program. This process is one of many key aspects to be carried out as part of the ongoing Pre-feasibility Study (PFS) underway for the Ashram Rare Earth Deposit located in northern Quebec.
Commerce Resources Corp. (TSXv: CCE) updated the drill results from the winter/spring drill program at the Ashram Rare Earth Deposit in northern Quebec. In one of the drill holes, the Company intersected the strongest heavy rare earth element mineralization to date from the project.
- Commerce Resources completed drilling at the Ashram Rare Earth Deposit in northern Quebec, with highlights including 34.53 metres of 2.12% TREO and 60.83 metres of 2.03% TREO.
- Drill hole EC15-114 intersected 17.25 metres of 2.08% TREO, including 1.46 metres of 4.57% TREO, and encountered significant middle and heavy rare earth oxide mineralization.
- The drilling was aimed at increasing resource confidence for a pre-feasibility study by further delineating the deposit along its eastern margin.
Commerce Resources Corp. (TSXv: CCE) announces that it has completed the first phase of its 2015 field program at its 100% owned Ashram Rare Earth Deposit located in northern Quebec.
Commerce Resources Corp. announces the completion of the flotation pilot plant, the first phase in a series of related pilot plant tests on material from the Company's 100% owned Ashram Rare Earth Deposit.
More from Commerce Resources Corp. (TSXv:CCE) (17)
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News Release: Commerce Resources Announces 2013 Summer Drill Program at the Ashram Rare Earth Element Deposit
1. Commerce Resources Corp. Announces 2013 Summer Drill Program at the
Ashram Rare Earth Element Deposit, Northern Quebec
June 19, 2013 - Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) (the
“Company” or “Commerce”) is pleased to provide an overview of the pending 2013 field
program at its 100% owned Ashram Rare Earth Element (REE) Deposit located in Northern
Quebec.
A six to eight week field program is anticipated to commence July 15, 2013, which will include
1,000 to 1,500 m of drilling targeted at the Ashram Rare Earth Deposit. Drilling will focus on
infill holes in order to increase the resource confidence from the current inferred category to the
indicated and/or measured categories. The Deposit has currently 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. (see news release dated May 24, 2012) An indicated or measured resource
category is required for all in-pit mineralized material in order to convert mineral resources to
ore reserves as required for the ongoing Pre-feasibility Study (PFS).
Company President David Hodge states “We are fortunate to be in a position to move the project
forward at this stage with cash on hand given the current markets. There is solid room for
optimization in all facets of this project and we are very excited about the de-risking we have
completed and continue to achieve during our Pre-feasibility work.”
In Q3 2012 Roche Ltd. (Roche) was retained to complete the PFS for the Ashram Rare Earth
Deposit. Since this time, Roche has made significant progress including the evaluation of
potential docking facility locations, mine-site airstrip and facility locations, and road route
optimization (mine-site to docking facility).
Programmed work will include required environmental and geotechnical programs as well as
reclamation of several historic trench sites. This work will complement the field program
completed during February-March 2013 that included a small mammal survey as well as
installation of a weather monitoring station.
As part of the PFS, a total of nine potential airstrip sites are being evaluated, including five
located directly on the Eldor Property. The weather station installed in Q1 2013 will monitor
seasonal local climate fluctuations and, together with other local and regional data, will support
the selection of a preferred airstrip location. All prospective locations have been selected based
on an ability to incorporate changes to the principal orientation as the weather and other data will
be required for final site confirmation. The site selected will also be amenable to future
expansion if required.
2. The road route from the mine-site to a northern docking facility has been significantly optimized
and improved from the initial route evaluated in the PEA. Although the length cannot be
finalized until an exact docking facility location is confirmed, the length has been reduced
considerably by 25 km (from 185 km to 160 km) when compared to the PEA. Further, the three
crossings noted in the PEA (40 m, 50 m, and 60 m) have also been significantly reduced in size
(22 m, 28 m, and 42 m) due to the newly optimized route.
Metallurgy continues to make significant advancements with mineral concentrate grades and
recoveries continuing to improve. Additional details of the physical upgrading and
hydrometallurgical program will be presented shortly in a forthcoming news release.
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 the Ashram Rare Earth Element Deposit
The Ashram Rare Earth Element (REE) Deposit is a carbonatite within the Eldor Property,
located in north-eastern Quebec. The 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.
The deposit boasts a well-balanced distribution with enrichment in the light, middle and heavy
rare earth elements including all five of the most critical elements (neodymium, europium,
dysprosium, terbium, and yttrium).
The REEs at Ashram occur in simple and well-understood mineralogy, being primarily in the
mineral monazite and to a lesser extent in bastnaesite and xenotime. These minerals dominate the
currently known commercial extraction processes for rare earths.
A Preliminary Economic Assessment, completed in May 2012 by SGS-Geostat of Montreal
(Blainville) (see news release dated May 24, 2012), outlines robust economics for the Ashram
Deposit. The PEA is based on a 4,000 tonne per day open-pit operation with an initial 25-year
mine life (300 years at economic cut-off if open-pit + underground development), a pre-tax and
pre-finance Net Present Value (NPV) of $2.32 billion at a 10% discount rate, a pre-tax/pre-
finance Internal Rate of Return (IRR) of 44%, and a pre-tax/pre-finance payback period of 2.25
years.
The Company continues to advance the Ashram Deposit with the planned 2013 field program
and with metallurgical programs at both UVR-FIA and Hazen Research.
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
3. 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 http://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.
“David Hodge”
David Hodge
President and Director
Tel: 604.484.2700
Email: dhodge@commerceresources.com
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 that our results will be sufficient to support the
initiation of a pre-feasibility study; that we will be able to enhance even further the quality of the resource; and that
the REEs at Ashram occur in simple and well-understood mineralogy. These forward-looking statements are based
on the opinions and estimates of management and its consultants at the date the information is disseminated. They
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 and their impact on the cut off
value established; increased capital costs; changing forecasts of mine production rates; 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; market pricing 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.