Commerce Resources Corp. (TSXV:CCE) OTCQX:CMRZF) has obtained high-grade results in assay results received from three holes completed at the Ashram Rare Earth and Fluorspar Deposit in Quebec 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 four drill holes were announced December 22nd, 2021 with the results for an additional three drill holes reported herein. Highlights include:
- 1.78% rare earth oxide (REO) over 274.3 m (EC21-193), including,
- 2.09% over 110.4 m
- 1.83% REO over 300.1 m (EC21-184), including,
- 2.05% REO over 37.7 m, and
- 2.08% REO over 29.0 m
- 1.59% REO over 225.0 m (EC21-186), including,
- 2.07% over 35.0 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.
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.
All three drill holes (EC21-184, 186, and 193) collared in and bottomed in mineralisation starting at depths of 1.9 to 3.7 m (core length), consistent with previous drilling, remaining mineralised over their entire length.
The NdPr oxide distribution (i.e. % of Nd+Pr oxide of the total REO) continues to remain very strong compared to active global producers, and commonly ranges from 19 – 24+%, including a 22.2% NdPr oxide distribution in EC21-193’s 274.3 m interval of 1.78% REO.
The relatively high NdPr oxide distribution at Ashram is a result of the monazite dominate rare earth mineralogy and unique chemistry and equates to a relatively high-value end-product that Ashram could supply the market with over the long-term.
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. Core sample assays for seven out of 12 drill holes from the 2021 drill program have now been reported with assays pending on the remaining five drill holes.
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