Commerce Resources Corp. (TSXV:CCE) has obtained high-grade assay results for the 12 holes completed at the Ashram Rare Earth and Fluorspar Deposit in Quebec as part of its 2022 drill programme.
The Ashram Deposit is one of the largest rare earth element (REE) deposits in the world, and monazite is its primary rare earth mineral resulting in a strong NdPr oxide distribution (% of Nd+Pr oxide of the total REO).
Drill hole intersection highlights from the 2022 program include:
- 392.8m at 2.12% rare earth oxide (“REO”) (21.6% NdPr) (starting from surface) including, 34.5m at 2.50% REO (20.2% NdPr) (EC22-197)
- 379.1m at 2.04% REO (21.4% NdPr) (starting from surface) (EC22-199)
- 406.4m at 1.99% REO (21.3% NdPr) (starting from surface) including, 36.0m at 1.56% REO (24.0% NdPr) (EC22-198A)
- 278.2m at 1.80% REO (22.2% NdPr), (starting from surface) including, 13.8m at 1.54% REO (26.9% NdPr) and 11.1m at 1.40% REO (33.3% NdPr) (EC22-200)
The July through September 2022 programme included 12) drill holes totalling 2,778.6m at the Ashram Deposit – EC22-194 to 200, and 204 to 207. The programme was completed in support of the Ashram Project’s advancing Prefeasibility Study (PFS), with the primary objective of resource/pit infill to improve resource confidence from the inferred/indicated categories to the indicated/measured categories within the planned open-pit shell (focus of six holes – EC22-196, 197, 198, 198A, 199, and 200).
These resource/pit infill holes returned grades of REO and NdPr distributions consistent with previous drilling, starting from surface and remaining mineralized over their entire length (i.e., ended in mineralization a short distance past the base of the pit shell).
Highlights include 392.8m at 2.12% REO (21.6% NdPr) (EC22‑197), 379.1m at 2.04% REO (21.4% NdPr) (EC22-199), and 406.4m at 1.99% REO (21.3% NdPr) (EC22‑198A). Additionally, several wide intervals with ≥24% NdPr distribution were returned including 36.0m at 1.56% REO (24.0% NdPr) (EC22-198A), 32.6m at 1.34% REO (25.8% NdPr) (EC22-196), as well as 13.8m at 1.54% REO (26.9% NdPr) and 11.1m at 1.40% REO (33.3% NdPr) (EC22-200)
The Ashram Deposit ranks as one of the largest REE (and fluorspar) deposits globally, consisting of a monazite dominated (i.e., strong NdPr), single mineralized body outcropping at surface, and through the 2022 have drill delineated footprint of over 700m along strike, 300m across, and 600m deep, and remains open at depth.
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