Commerce Resources Corp. (TSXV:CCE) has obtained further promising assay results received from three additional 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 twelve drill holes totalling 2,814m focused on resource infill within the planned open-pit shell.
Results for the first seven holes were announced December 2021 and January 2022.
Highlights include:
- 1.79% rare earth oxide (“REO”) over 223.2 m (EC21-190), including,
- 2.15% REO over 67.9 m
- 1.71% REO over 221.5 m (EC21-191), including,
- 2.15% REO over 64.4 m
- 1.97% REO over 23.3 m (EC21-188)
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 (EC21-188, 190, and 191) were collared in the southern 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 EC21-191 with 64.4 m of 2.15% REO at an NdPr distribution of 21.1%.
As the Ashram Deposit is known to continue for more than 600m 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 ten out of 12 drill holes from the 2021 drill programme have now been reported with assays pending on the remaining two drill holes.
About the Ashram Deposit
The Ashram Deposit ranks as one of the largest REE (and fluorspar) deposits globally, consisting of a monazite dominated, single mineralised body outcropping at surface, and has a footprint approximately 600m along strike, over 300m across, and 600m 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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