This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Commerce Resources Corp. Announces 2013 Summer Drill Program At The Ashram Rare Earth Element Deposit, Northern Quebec

VANCOUVER, June 19, 2013 /PRNewswire/ - 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.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,086.63 -26.91 -0.16%
S&P 500 1,987.01 +3.48 0.18%
NASDAQ 4,473.6970 +17.6810 0.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs