VANCOUVER, Sept. 14, 2015
/CNW/ - Commerce Resources Corp. (TSXv: CCE, FSE: D7H,
OTCQX: CMRZF) (the "Company" or "Commerce") is pleased to provide
an update on the second phase of the 2015 drill program underway at
its 100% owned Ashram Rare Earth Deposit located in northern
Quebec.
To date, 17 drill holes (EC15-140 through 156), totalling
approximately 732.14 m (8 HQ holes for 351.95 m, 9 NQ holes for
380.19 m) have been completed. The objective of the Phase II
program is to complete the field work relating to resource infill,
mine-site infrastructure assessment, and hydrogeological testwork
as part of the ongoing Pre-feasibility Study (PFS).
The Company has now completed the planned mine-site
infrastructure assessment program. This included a geotechnical
drill and sampling program, condemnation drill holes, mapping, and
monitoring well nest installations. The majority of this work was
completed at the proposed process plant and tailings management
facility (TMF) option sites, but also included ground evaluation of
the proposed dyke and airstrip locations. Drilling over these areas
(process plant and TMFs) totalled 529 m over 16 holes, with most
holes completed to shallow depths from 5 to 60 m (15 holes) and one
to a depth of 143 m for condemnation purposes.
The shallow holes were needed primarily to confirm the depth to
bedrock, and to collect samples of the overburden (shelby tube /
split spoon) to assess soil type and bearing capacity. Samples
collected have been submitted to Laboratoires d'Expertises de
Québec ltée for analysis. In addition, targeted, representative
samples for condemnation purposes were collected and will be
submitted to Activation Laboratories in Ancaster, ON, for major oxides by Fusion ICP,
rare earths by ICP-MS, and for fluorine by Fusion ISE.
Although sample analysis has yet to be completed, the field
interpretation of the work completed to date indicates the sites
are acceptable for the infrastructure proposed.
In addition, one hole for 203 m (EC15-0143) was completed as
resource infill at the north end of the deposit. Samples have been
collected and will be submitted to Activation Laboratories for
analysis.
The remaining program is anticipated to consist of:
- Completion of the remaining resource infill drill holes
- A single drill hole targeting a gravity anomaly proximal to the
south of the deposit that may be related to the middle and heavy
rare earth oxide mineralization present at Ashram
- Installation of hydrogeological equipment in several previously
completed drill holes
- Completion of an HQ size drill hole at the north end of the
deposit to be used for a pumping test
Additional updates will follow as the program advances. The
Pre-feasibility Study is ongoing with the results of the programs
described in this news release to be incorporated, along with other
necessary technical data including geological and engineering
studies, into the PFS with costs and benefits to be described in
more detail therein.
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 and Niobium Deposit in British Columbia.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"Chris Grove"
Chris
Grove
President
Tel: 604.484.2700
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 our ongoing drill program; all field work related to future
processing plant, tailings management, dyke and airstrip locations
and the early assumptions that the sites will be acceptable for the
proposed infrastructure; any comments related to the completion of
a Pre-feasibility study; and references that the anomaly to the
south may be related to the middle and heavy rare earth oxide
mineralization present at Ashram. 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 changing costs for
mining and processing; increased capital costs; 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; 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.
SOURCE Commerce Resources Corp.