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Commerce Resources mobilizes to drill Ashram rare earths project in Quebec

by Greg Klein | February 2, 2015

With the rig and crew now en route, Commerce Resources TSXV:CCE has a 4,000-metre program of infill drilling about to begin at its Ashram rare earths deposit in northern Quebec. The goal is to upgrade the existing resource in anticipation of a prefeasibility study, the company announced February 2. Commerce released Ashram’s preliminary economic assessment in 2012.

Commerce Resources mobilizes to drill Ashram rare earths project in Quebec

Some 4,000 metres of infill drilling will bring
Commerce Resources’ Ashram project closer to pre-feas.

Drilling will last until April or May, to be followed by a summer campaign after spring break-up. Commerce also plans to finish field work on the project’s geomechanical and hydrogeological programs.

Metallurgical studies at Ashram have produced high-grade concentrates of over 40% total rare earth oxides with better than 70% recovery. The company has a mini-pilot plant scheduled for start-up early this year.

In December Commerce closed a $3.5-million private placement, which followed an oversubscribed $5-million private placement two months earlier. In November the company retained Deloitte Global Metals & Mining Advisory Group to evaluate potential partnerships, joint ventures and offtake agreements.

Commerce also holds the Blue River tantalum-niobium project in southeastern British Columbia, which reached a preliminary economic assessment in 2011 and a resource update the following year.

Read more about Commerce Resources here and here.

Read about rare earths in Canada.

Disclaimer: Commerce Resources Corp is a client of OnPage Media Corp, the publisher of The principals of OnPage Media may hold shares in Commerce Resources.

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