Sept. 13, 2013
Commerce Resources Corp.
(TSXv: CCE, FSE: D7H, OTCQX: CMRZF) (the "Company" or "Commerce") is pleased to announce the successful completion of the 2013 summer field program at its 100% owned Ashram Rare Earth Element (REE) Deposit located in northern
The July-August field program consisted of twelve NQ size drill holes (1,177 m), as well as related geotechnical and hydrological work focused on the advancement of the Ashram Deposit. The objectives of the program were to:
- Complete infill holes to increase the resource confidence from the current inferred category to the indicated and/or measured categories within the planned open-pit area,
- Evaluate a northwestern extension to the deposit,
- Complete Phase I (2013) geotechnical / hydrological work from which to base Phase II (2014), and
- Complete additional baseline environmental work for year to year evaluation.
The summer's program was successful in achieving all four of its objectives. All drill holes were deliberately ended shortly below the base of the anticipated pit, with casing left in where practical to allow for easy access to deepen if required. Most holes ended in strongly mineralized material, and thus, the ability to deepen if required will be important as the pit is optimized for position and throughput per day.
The three most northeasterly drill holes (EC13-093, 094, and 095) collared in mineralization, thereby extending mineralization further northeast than had been anticipated. The presence of strongly mineralized material at surface in these locations indicates a lip or 'fanning' of the mineralized body near surface. As these holes were expected to collar in non-mineralized in-pit material, the mineralization encountered is anticipated to effectively lower the existing strip ratio as currently outlined in the Preliminary Economic Assessment (0.19:1, waste : mineralized material). The deposit remains open to the north, south, at depth, and is not fully constrained to the east and west.