Commerce Resources Corp. (TSXV:CCE) has commenced a drill programme at the Ashram Rare Earth and Fluorspar Deposit, located in northern Quebec, with a first hole collar expected end of July/early August.
The programme is being managed by Dahrouge Geological Consulting Ltd. of Edmonton, AB, (head office) with drilling operations being carried out by Forage Fusion Drilling Ltd. of Hawkesbury, ON.
A total of 2,200 m of NQ size core drilling over seven to 10 holes is anticipated, focused at the Ashram Deposit. The holes will target further delineation of the deposit, which remains open to the north and south, as well as target an increase in resource confidence from the inferred/indicated categories to the indicated/measured categories in areas where the neodymium-praseodymium (NdPr) contents are highest.
Depending on the location within the deposit, the NdPr distribution – i.e. % of Nd+Pr oxide of the total rare earth oxide (REO) – typically varies from 21-24+% with monazite being the dominant carrier of the rare earth elements (“REEs”).
The company has completed its drill core relog and geological model update of the deposit, which will guide the drill program to meet its objectives.
Specifically, a portion of the drill programme will target the south end of the deposit, which remains open, and will provide more confidence in the geological modelling of this area.
Since the 2012 mineral resource estimate, which supported a Preliminary Economic Assessment, an additional ninety-eight (98) drill holes, totalling 12,436 m, have been completed at the deposit and surrounding area, and will feed into a mineral resource update in support of Prefeasibility.
The Ashram Deposit is characterised by a single REE and fluorspar mineralised body of considerable size, extending at least 600 m along strike, 300 m in width, and 600 m to depth. The dominate REE mineral is monazite resulting in a relatively high NdPr distribution (typically 21-24%) and has enabled the production of high-grade (>40% REO) monazite concentrates to be produced at high recovery.
In addition to the drill programme, the company continues to advance the other project components remaining to be completed as part of the ongoing Prefeasibility Study (PFS).
In recent weeks the company has advanced infrastructure layout and is nearing the final phases of flowsheet development for the PFS, which will then transition to a final design period with PFS cost estimation.
About the Ashram Deposit
The Ashram Deposit ranks as one of the largest REE (and fluorspar) deposits globally, consisting of a monazite dominated, single mineralized body outcropping at surface, and has a footprint approximately 600 m along strike, over 300 m across, and 600 m deep, remaining open in several directions.
The deposit hosts a measured resource of 1.6 million tonnes (Mt) at 1.77% rare earth oxide (REO) and 3.8% F, an indicated resource of 27.7 Mt at 1.90% REO and 2.9% F, and an inferred resource of 219.8 Mt at 1.88% REO and 2.2% F, at a cut-off grade of 1.25% REO.
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