Commerce Resources Corp. Intersects 18.5% MH-T over 32 m at 1.65% TREO (304 ppm Dysprosium Oxide) at the Ashram Rare Earth Deposit, Northern Quebec
Canada NewsWire
VANCOUVER, July 24, 2015
VANCOUVER, July 24, 2015 /CNW/ - Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) (the "Company") is pleased to provide an update on the drill results from the recently completed winter/spring drill program at the Ashram Rare Earth Deposit located in northern Quebec. In one of these drill holes the Company has intersected the strongest heavy rare earth element mineralization to date from the project.
Highlights are as follows:
31.96 m of 1.65% TREO(1) (304 ppm Dy oxide) at 18.5% MH-T(2) in EC15-133, including 18.08 m of 1.49% TREO (359 ppm Dy oxide) at 23.5% MH-T
77.90 m of 1.68% TREO at 11.8% MH-T (174 ppm Dy oxide) in EC15-134
51.34 m of 2.46% TREO in EC15-134
The primary goal of the drill program was to increase the resource confidence from the current inferred category to the measured and/or indicated categories with infill drilling, as required for the ongoing Pre-feasibility Study (PFS). A total of 31 drill holes for 4,146 m were completed in the program, with 14 holes for 1,376 m remaining to be reported.
The two drill holes (EC15-133 and 134) targeted the Middle and Heavy Rare Earth Oxide (MHREO) Zone and encountered considerable MHREO mineralization, with drill hole 133 intersecting the strongest mineralization to date, and over the largest interval to date. This mineralization starts at, or near surface (<20 m), and includes 23.5% MH-T over 18 m at 1.49% TREO (80 ppm Tb oxide, 359 ppm Dy oxide) within a larger interval of 18.5% MH-T over 32 m at 1.65% TREO (68 ppm Tb oxide, 304 ppm Dy oxide) in EC15-133. This MHREO mineralized zone was again intersected ~60 m east in EC15-134 with 11.8% MH-T over 78 m at 1.68% TREO.
The MH-T, Tb oxide, and Dy oxide values reported herein are significantly higher than that noted in the 2012 Ashram MHREO Zone Resource (Indicated: 11.3%, 36 ppm, and 153 ppm respectively). For additional perspective, the approximate average MH-T% for Mountain Pass, Bayan Obo, Weishan, and Maoniuping (collectively from which the vast majority of the world's REO is produced) is 1.4%, 1.9%, 1.4%, and 2.9% respectively.
The appreciable MHREO enrichment present at the Ashram Deposit is extremely rare and is significantly higher than current producers (as per above), and also compares very favourably with many well-known MHREO enriched granitic deposits under development worldwide.
The strong MHREO mineralization is accompanied by significant enrichment of the magnet feed oxides (Nd-Pr), with several samples over 30% combined Nd-Pr (as a % of TREO). Collectively, the MHREO intersections of EC15-133 and 134 best illustrate the well-balanced REE distribution of the Ashram Deposit, which is unique in the space and is particularly well-suited to magnet end-use (Nd, Pr, Tb, Dy).
In addition, high-grade TREO mineralization continues to be encountered at relatively shallow depths, directly adjacent to the MHREO Zone, and is highlighted by EC15-134 with 51 m of 2.46% TREO.
Analytical results for the drill holes noted herein from the winter/spring 2015 drill program are summarized in Table 1.
Table 1.
Hole ID
Core
Size
From
(m)
To
(m)
Interval
(m)
TREO(1)
(%)
MH-T(2)
(%)
Fluorite(3)
(%)
End of Hole (EOH)
(m)
EC15-123A
NQ
144.80
166.73
21.93
1.11
8.9
3.2
166.73
EC15-133
NQ
3.65
239.00
235.35
1.92
9.1
9.8
239.00
incl.
3.65
18.70
15.05
2.15
6.0
12.9
or
144.13
239.00
94.87
2.12
5.7
9.5
MHREO
18.70
144.13
125.43
1.74
12.6
9.6
incl.
18.70
65.71
47.01
1.56
16.9
7.7
or
35.70
53.78
18.08
1.49
23.5
6.5
or
23.16
55.12
31.96
1.65
18.5
7.9
EC15-134
NQ
4.45
200.00
195.55
1.93
8.8
8.2
200.00
incl.
148.66
200.00
51.34
2.46
6.4
6.6
MHREO
4.45
82.35
77.90
1.68
11.8
10.8
incl.
4.45
26.59
22.14
1.36
15.0
12.7
EC15-123
HQ
Drilled for geotechnical purposes but was abandoned due to hole caving
8.53
(1)
TREO is the summation of Ce2O3 + La2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3
(2)
MH-T is the sum of the middle and heavy rare earth oxides (Sm2O3 + Eu2O3 + Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3) divided by TREO, expressed as a per cent.
(3)
Fluorite (CAF2) is calculated based on fluorine analysis, using a conversion factor of 2.055, as mineralogical work concludes fluorite is the dominant and only material source of fluorine.
(4)
True thicknesses of drill intersections are estimated to be 50-70% along the deposit's margins; however, the cone like nature of the deposit effectively increases the true thickness to 100% as intersections move inwards, towards the deposit's centre.
A map showing the drill hole locations is available on the Company's website at www.commerceresources.com.
Both EC15-133 and 134 were terminated at a pre-determined depth (~200 m) for the purposes of the Pre-feasibility Study (PFS), ending in strong mineralization at 2.08% TREO and 2.38% TREO respectively.
Both EC15-123 and 123A were geotechnical holes targeting the anticipated dyke/dam location. Drill hole EC15-123 was abandoned at 9 m depth due to caving. Drill hole EC15-123A (twin of 123) ended at 167 m due to ice conditions. Of note, however, is the REE mineralization intersected in EC15-123A with 1.11% TREO over 22 m at the bottom of the hole, including a final sample of 1.52% TREO. The intersection, located ~200 m to southeast of the deposit, highlights the extent of the REE mineralized system present at Ashram.
All samples collected will be analyzed by Activation Laboratories in Ancaster, ON for major oxides by Fusion ICP, rare earths by ICP-MS, and for fluorine by Fusion ISE. Results will be released as they are received.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
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