VANCOUVER, April 15, 2015 /CNW/ - Commerce Resources
Corp. (TSXv: CCE, FSE: D7H) (the "Company" or "Commerce") is
pleased to provide an update on the drill program underway at its
100% owned Ashram Rare Earth Deposit located in northern
Quebec. To date, a total of 22
drill holes, for approximately 2,650 m, have been completed,
including both NQ and HQ drill core size.
The 2015 winter/spring field program is composed of resource
infill drilling, geotechnical drilling and downhole surveying, as
well as hydrogeological drill hole testing. The primary goals of
the program are to increase the resource confidence from the
current interred category to the indicated and/or measured
categories with infill drilling, as well as to complete all
geotechnical/geomechanical and hydrogeological work required for
the ongoing Pre-feasibility Study (PFS).
Resource Drilling
The resource definition drilling is focused along the periphery
of the deposit, as well as on the central MHREO Zone.
Out of an expected 30 holes, 10 holes (1,521 m) located along
the eastern margin of the deposit, over Centre Pond, have been
completed. These holes are NQ in diameter and range in depth from
82 to 223 m. An additional 4 holes (834 m) have been completed on
land, including the first of HQ size (EC15-129).
A map showing the drill hole locations is available on the
Company's website at http://www.commerceresources.com.
Sample batches from the first seven drill holes (EC15-110
through 117) have arrived at Activation Laboratories in
Ancaster, ON and will be analyzed
for rare earths by ICP-MS, as well as for fluorine by Fusion ISE.
Results will be released as they are
received.
Geotechnical Drilling (Dyke Holes)
The geotechnical drill program is primarily comprised of
overburden sampling/testing at various drill hole locations along
the deposit periphery, as well as at the proposed location of the
dyke to the east of the deposit, with the additional objective of
confirming depth to bedrock.
Drilling of six of the seven planned holes along the proposed
dyke site have been completed (233 m of NQ size), with five of the
holes ranging from 8 to 26 m. The first dyke hole (EC15-123A) was
drilled to 167 m, to test a geophysical anomaly at depth.
Initial review of the results indicate the overburden depths
(<5 m), and associated characteristics, are favourable for dyke
construction at this location, so far being the preferred site out
of the four options under consideration.
The geotechnical program also includes downhole surveying using
optical-acoustic (OTV-ATV) televiewer equipment, and related
probes, by DGI Geoscience Inc. The OTV-ATV crew mobilized to site
in late March and have completed surveys on nine of twelve planned
resource holes. The equipment will collect downhole information on
fractures, faults, and geophysical properties, as well as a
high-resolution 360˚ digital image of the drill hole wall (see news
release dated March 11, 2015, for
additional survey details).
Hydrogeological Work
The hydrogeological field crew (Hydro-Ressources Inc.) will
arrive on-site this week to begin downhole hydrogeological testing.
This work will focus on packer testing to evaluate hydraulic
properties of select intervals at depth. A total of 11 drill holes
(7 NQ and 4 HQ) are targeted for this work and will utilize
resource infill drill holes already completed.
In addition to the packer testing, the first of three dedicated
HQ drill holes (60 m depth each), over three sites, has been
completed for the installation of monitoring well equipment. These
holes will be coupled with immediately adjacent HQ size resource
holes (200 m depth) to create a monitoring well nest at each site,
which is necessary for ongoing ground water evaluation throughout
the deposit.
The first phase of the 2015 field program (winter/spring) is
anticipated to be completed in May. The second phase is expected to
begin in July and will focus on the remaining resource infill
drilling, mine-site infrastructure assessment, and final
hydrological test work required for the ongoing PFS.
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.
About Commerce Resources Corp.
Commerce Resources
Corp. is an exploration and development company with a particular
focus on deposits of rare metals and rare earth elements. The
Company is focused on the development of its Ashram Rare Earth
Element Deposit in Quebec and the
Upper Fir Tantalum and Niobium Deposit in British Columbia.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"Chris Grove"
Chris
Grove
President
Tel: 604.484.2700
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains
forward-looking information which is subject to a variety of risks
and uncertainties and other factors that could cause actual events
or results to differ from those projected in the forward-looking
statements. Forward looking statements in this press release
include but are not limited to, the primary goals of the program
being to increase the resource confidence from inferred to
indicated or measured; complete work required for the
Pre-feasibility study; expectations of drilling 30 holes; proposed
location of the dyke and that conditions for the dyke are
favourable; hydrogeological work will commence; that the first
phase will be completed in May and the second phase will commence
in July. These forward-looking statements are subject to a
variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those
projected in the forward-looking information. Risks
that could change or prevent these statements from coming to
fruition include changing costs for mining and processing;
increased capital costs; the timing and content of upcoming work
programs; geological interpretations based on current data that may
change with more detailed information; potential process methods
and mineral recoveries assumption based on limited test work and by
comparison to what are considered analogous deposits that with
further test work may not be comparable; the availability of
labour, equipment and markets for the products produced; and
despite the current expected viability of the project, conditions
changing such that the minerals on our property cannot be
economically mined, or that the required permits to build and
operate the envisaged mine can be obtained. The forward-looking
information contained herein is given as of the date hereof and the
Company assumes no responsibility to update or revise such
information to reflect new events or circumstances, except as
required by law.
SOURCE Commerce Resources Corp.