Friday 6th December 2019

Resource Clips



Commerce Resources reports high grades over wide intervals at Quebec rare earths-fluorspar project

by Greg Klein | November 28, 2019

With core moved from the storage vault to the lab, new assays further confidence in a resource update anticipated for next year as the Ashram deposit advances towards pre-feasibility. The results come from a 14-hole, 2,014-metre program sunk in 2016 but only recently assayed for budgetary reasons. Now cashed-up Commerce Resources TSXV:CCE unveils an impressive batch of near-surface rare earths and fluorspar intercepts from the northern Quebec property.

Commerce Resources reports high grades over wide intervals at Quebec rare earths-fluorspar project

Among the highlights are one of the project’s best-yet intercepts: 2.38% rare earth oxides over 64.54 metres, with sub-intervals including 3.02% over 28.35 metres. Another standout shows 1.71% over 221.95 metres, including 2.18% over 36.16 metres. Yet another hole boasts 2.16% over 53.55 metres. (True widths were unavailable.)

These are near-surface results, starting at downhole depths of 66.5 metres, 2.69 metres and 1.54 metres respectively.

Another critical mineral and one not factored into Ashram’s previous PEA, fluorspar also comes through in impressive grades, such as 7.2% calcium fluoride over 221.95 metres, including 11.5% CaF2 over 36.16 metres. Metallurgical studies currently underway work on upgrading the fluorspar to higher-priced acid grade in a flowsheet that would provide both rare earths and fluorspar concentrates, improve RE extraction and reduce tailings. The Colorado lab will also produce samples to meet requests from potential customers.

This round of definition drilling targeted the deposit’s northern, western and southern margins with holes spaced 50 metres apart, and in some cases 25 metres apart. Additional drilling at 25-metre centres may take place.

Using a 1.25% cutoff, Ashram’s 2012 resource estimate showed:

  • measured: 1.59 million tonnes averaging 1.77% total rare earth oxides

  • indicated: 27.67 million tonnes averaging 1.9% TREO

  • inferred: 219.8 million tonnes averaging 1.88% TREO

The carbonatite-hosted deposit features relatively simple monazite, bastnasite and xenotime mineralogy, familiar to conventional rare earths processing

Anticipated for the coming year is Ashram’s first resource update since 2012, factoring in 9,625 metres of drilling since then. Previous drilling followed mineralization from near-surface to depths beyond 600 metres where mineralization remains open, as evidenced by 4.13% REO over 0.6 metres beginning at 599.9 metres’ depth.

Work continues as the United States and other allied countries show increasing concern about China’s domination of several critical minerals with a special focus on rare earths but also including fluorspar, tantalum and niobium. Commerce also holds the advanced-stage Blue River tantalum-niobium deposit in southern British Columbia.

About two kilometres from Ashram, Saville Resources TSXV:SRE operates the Niobium Claim Group under a 75% earn-in from Commerce. After releasing niobium-tantalum-phosphate results last June, Saville now has the project’s fluorspar potential under evaluation.

Earlier this month Commerce closed the final tranche of a private placement totalling $2.51 million. Another placement in August garnered $413,749.

Read more about Commerce Resources.

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