Commerce Resources Corp TSXV:CCE announced an NI 43-101 mineral resource estimate for the Ashram Rare Earth Element Zone of its Eldor Project in northeastern Quebec. At a 1.25% cut-off, inferred resources are 117.34 million tonnes grading 1.74% TREO, 1.612% LREO, 0.069% IREO, 0.019% HREO, 0.04% Y2O3 and 5.56% CaF2.
President David Hodge commented, “This large tonnage, initial resource estimate is a significant milestone for Commerce and the Eldor Project. The resource confirms the importance of the project and puts Commerce in a unique and attractive position in that we control one of the largest rare earth deposits with NI 43-101 compliant resources outside of China. We intend to continue to advance the project rapidly with the aim to expand the deposit and continue to define zones of enrichment in the middle and heavy rare earths that are unique for these deposit types. The deposit is host to a significant inventory of high-demand, light-rare earths with significant zones of enrichment in middle and heavy rare earths.”
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by Ted Niles