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Commerce Resources Corp. Provides Update On 2012 Programs For The Blue River Tantalum-Niobium Project, Blue River, British Columbia

Highlights

  • Completion of Phase 2 metallurgical test work to optimize the use of desliming and carbonate rejection flotation, as well as chemical reagent dosages to increase the efficiency of rougher/cleaner Ta/Nb flotation and to finalize the preliminary process flow sheet developed in Phase 1 which formed the basis of the PEA.
  • Mineral Resource update underway at AMEC to include results of exploration in 2012, as well as 34 additional drill holes (totalling 8,715 m) of infill drilling completed in 2011.

VANCOUVER, Dec. 3, 2012 /PRNewswire/ - Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) (the "Company" or "Commerce") is pleased to provide an update on recent work completed at its Blue River Project since release of the National Instrument (NI) 43-101 compliant Mineral Resource update (effective date June 22, 2012 - see Commerce news release dated July 6, 2012) for the Upper Fir Deposit.

The geological, engineering, metallurgical and environmental programs carried out to date in 2012 broadly support the advancement of exploration and development at the Company's wholly owned Blue River Project, east-central British Columbia. These results continue to strengthen the foundation of broadly based technical knowledge developed in 2011, and following completion of the mineral resource update currently in progress by independent consultants AMEC Americas Ltd. ("AMEC"), will be sufficient to support the initiation of a pre-feasibility study (PFS).

The Blue River Property is host to the Upper Fir Tantalum and Niobium Deposit, which was discovered in 2002 and which has been the focus of the Company's activities since 2005. In fiscal 2012 year to date Commerce has spent approximately $3.7M (to October 31, 2012).

Metallurgical Test Work in 2012 Metallurgical work in 2012 has continued to update and optimize the process flow sheet described in the NI 43-101 compliant Preliminary Economic Assessment ("PEA") study completed by AMEC on the Blue River Project (effective date of September 29, 2011; see Commerce news release dated November 3, 2011).  The process flow sheet for the recovery of the tantalum and niobium described in the PEA was developed in 2011 based on Phase 1 studies and is available on the corporate website at http://www.commerceresources.com.

In April 2012, Commerce commissioned Acme Metallurgical Ltd ("Acme Met") of Vancouver, BC to initiate a Phase 2 investigation. This was designed to follow-up the successful results of the earlier program which had tested flotation as the preferred method to remove the larger portion of fine slimes and carbonatite minerals early in the process. Subsequent process steps could then focus on material containing Ta and Nb.

The objectives of the Phase 2 testing were three fold: 1). to optimize the use of desliming and carbonate rejection flotation; 2). to optimize chemical reagent dosages to increase the efficiency of rougher/cleaner Ta/Nb flotation; and 3). to finalize the process flow sheet developed in Phase 1 which was based on composite samples BS-2F and BS 2G. All Phase 2 work was conducted on these same composites and all tests were conducted at a grind size of 80% passing 130 microns.

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