Commerce Resources Corp TSXV:CCE announced that as part of its ongoing Preliminary Economic Assessment it has completed a new NI 43-101 compliant mineral resource estimate for the Upper Fir Tantalum-Niobium Deposit at its Blue River Project in BC. The property has indicated resources of 36.35 million tonnes containing 195 ppm tantalum and 1,700 ppm niobium. Inferred mineral resources are 6.4 million tonnes containing 199 ppm tantalum and 1890 ppm niobium.
President David Hodge commented, “The AMEC resource estimate for the Upper Fir Tantalum-Niobium Deposit reported today is further confirmation of Commerce’s belief that we are in the process of building a very important long-term source of ethical tantalum. Results remain pending for additional drilling completed in 2010, and we are eagerly awaiting the results of AMEC’s PEA, which is based on drilling to the end of the 2009 field season. All indications are that we will be able to enhance even further the quality of the resource. Of necessity, the impending PEA is based on conservative pricing. However, recent developments in global tantalum and niobium markets suggest significant near term upside.”
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by Ted Niles