Commerce Resources Corp. (TSXV:CCE)(OTCQX:CMRZF) continues to build on its success at the Ashram Rare Earth and Fluorspar Deposit in Quebec with new assay results received for the final two holes completed as part of the 2021 drill programme.
The field programme, completed in July-August 2021 in support of the Ashram Project’s Prefeasibility Study, included 12 drill holes totalling 2,814 m focused on resource infill within the planned open-pit shell.
Results for the first ten drill holes were announced December 22nd, 2021, and January 17 and February 7, 2022. Highlights from the late two holes include:
- 1.82% rare earth oxide (REO) over 225.4 m (EC21-192), including, 2.07% REO over 129.5 m
- 1.71% REO over 147.8 m (EC21-189), including, 2.14% REO over 60.5 m
The primary objective of the 2021 drill programme at Ashram was to improve the confidence of the mineral resource (inferred -> indicated -> measured) in support of an updated mineral resource estimate to be completed as part of the ongoing Prefeasibility Study, which will also determine the initial mineral reserve estimate for the Ashram Project.
President Chris Grove said that based on the drilling to date, the company anticipates a large portion of Ashram’s current inferred and indicated resources will be converted to indicated and measured resources.
“We are excited to finally have all of these drill results returned to us, as they are excellent and are indicative of the huge and well mineralised deposit that the Ashram is,” Mr Grove said.
“With the REE industry being more focused on monazite dominant mineralogy, as the Ashram is, we look forward to releasing more results from the other programs that are currently underway.”
Both drill holes (EC21-189 and 192) were collared in the south-central portions of the deposit, and intersected grades consistent with previous drilling, remaining mineralised over their entire length. Strong NdPr distributions (i.e. % of Nd+Pr oxide of the total REO) continue to be returned in excess of 20-21%, including drill hole EC21-192 with 129.5 m of 2.07% REO at an NdPr distribution of 21.5%.
Core sample assays for all 12 drill holes completed during the 2021 drill programme have now been received.
As the Ashram Deposit is known to continue for more than 600 m in depth, and remains open, the 2021 drill holes were ended at pre-determined depths below the anticipated pit shell, and therefore, most holes completed as part of the infill drilling at Ashram ended in mineralisation.
The results of the 2021 drill programme continue to highlight the size of the Ashram Deposit as well as continuity of the REE mineralisation, extending from surface to considerable depth.
The company is planning to complete an approximate 2,500 m drill programme this northern summer at Ashram and will focus on continued infill to improve the confidence of the mineral resource (inferred -> indicated -> measured), as well as on the southern portion of the deposit where limited drilling has been completed by comparison and the deposit remains open.
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