Commerce Resources Corp TSXV:CCE announced an updated NI 43-101 resource estimate for the Ashram rare earth element deposit of its Eldor project in northeastern Quebec. At a cut-off grade of 1.25%, the Ashram deposit has measured resources of 1.59 million tonnes at 1.77% total rare earth oxides, indicated resources of 27.67 million tonnes at 1.9% TREO, and 219.8 million tonnes at 1.88% TREO.
President Dave Hodge remarked, “The SGS Geostat resource estimate for the Ashram Deposit is further confirmation that we are defining one of the largest rare earth element deposits in the world. With the delineation of a middle and heavy rare earth zone from surface, we are excited by the potential of the project to provide light, middle, and heavy rare earth oxides to the market. We are eagerly awaiting the results of SGS Geostat’s PEA.”
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by Ted Niles