Friday 9th December 2016

Resource Clips


Posts tagged ‘Commerce Resources Corp (CCE)’

Commerce Resources announces successful close of 2016 field season

October 20th, 2016

by Greg Klein | October 20, 2016

A series of hydrogeological tests concluded the 2016 field season as Commerce Resources’ (TSXV:CCE) Ashram rare earths deposit moves towards pre-feasibility. Last month the company finished the year’s definition drilling and environmental data collection on the northeastern Quebec project.

“With the three main field objectives now completed, drill core processing and sample collection for analysis are the next steps,” the company stated.

Commerce Resources announces successful close of 2016 field season

Still to come are assays from the season’s
14-hole, 2,000-metre, near-surface drill campaign.

The hydrogeological data will help evaluate sub-surface water flow and slope stability of different pit shell configurations. The environmental program included surface water and groundwater samples for baseline data collection and related studies. Last June the Quebec government granted Commerce $300,000 towards studies to optimize tailings management.

The season’s drill program sunk 14 holes totalling about 2,000 metres on the deposit’s northern, western and southern margins. While assays are pending, “initial geologic review and portable XRF data indicates significant mineralization is present over appreciable widths in several holes,” Commerce added. The goal is to expand and upgrade the project’s 2012 high-grade, near-surface resource.

The company keeps busy on a number of fronts as the project advances. Metallurgical studies have simplified Ashram’s flowsheet and shown a potential byproduct in fluorspar. Ashram’s rare earth elements mostly appear in monazite and to a lesser extent bastnasite and xenotime, minerals that dominate commercial extraction processes. Ashram’s REE distribution shows enrichment in the critical and magnet feed elements neodymium, praseodymium, europium, terbium, dysprosium and yttrium.

While rare earths remain the company’s focus, a sampling program on the same property but one kilometre from the deposit brought a “spectacular” result of 5.9% niobium pentoxide last month. Forty out of 64 samples graded above 0.5% Nb2O5, with 16 surpassing 1%. Significant tantalum, phosphate and rare earth oxide grades were also found.

In August the company closed a private placement of $551,040 and the second tranche of a short-form prospectus that totalled nearly $1.45 million.

Commerce also holds the Blue River tantalum-niobium deposit in southeastern British Columbia, which reached PEA in 2011 and a resource update in 2013.

Read more about Commerce Resources.

Commerce Resources president Chris Grove remarks on a “spectacular” assay from the Eldor property hosting the Ashram rare earths deposit

October 18th, 2016

…Read more

Commerce Resources samples high-grade niobium outside its Ashram rare earths deposit

September 13th, 2016

by Greg Klein | September 13, 2016

A “spectacular” niobium assay has Commerce Resources TSXV:CCE enthused about an exploration target one kilometre from its Ashram rare earths deposit. A sampling program on the northern Quebec Eldor property strengthens the Miranna area’s niobium-tantalum-phosphate potential, with results up to 5.9% niobium pentoxide. But excited as the company is, work continues to focus on Ashram’s pre-feasibility studies.

“That’s the highest grade niobium sample I have ever seen on the planet,” says president Chris Grove. “I’ve never seen anything higher. This is spectacular.”

Commerce Resources samples 5.9% Nb2O5 outside its Ashram rare earths deposit

A serene-looking camp contrasts with activity
elsewhere on Commerce Resources’ Eldor property.

Of 64 samples, 40 assayed above 0.5% Nb2O5, with 16 surpassing 1%. The program also found significant grades of tantalum, phosphate and rare earth oxides. Two samples each graded above 1,000 ppm Ta2O5 and 1% Nb2O5, while several samples revealed more than 10% P2O5.

The samples also showed appreciable REE mineralization associated with the niobium, Commerce added.

The finding brings to mind the origin of Commerce, which was created around the Upper Fir project in southeastern British Columbia. The property’s Blue River tantalum-niobium deposit reached PEA in 2011 and a resource update in 2013.

Niobium’s price explosion in late 2006 sent Commerce looking for additional deposits, Grove says. That led the company to Eldor. But Ashram’s initial drill results switched the focus to rare earths.

And while Miranna now presents additional multi-commodity potential, work will continue to focus on Ashram’s pre-feas, Grove emphasizes.

The Miranna samples come from a glacial train of niobium-tantalum-phosphate mineralized boulders believed to be near their source. Some mineralized samples hold magnetite, suggesting a magnetic signature to the source. The company says a magnetic high immediately south, which appears to coincide with the train’s apex, could mark the bedrock source.

Previous mineralogical work indicates that Miranna’s niobium and tantalum mineralization is hosted by pyrochlore, the world’s dominant mineral source of niobium, Commerce stated. The pyrochlore’s coarse grains would also benefit recovery.

Meanwhile work continues at Ashram, where a near-surface program of 14 holes totalling 1,600 metres began last month. Metallurgical studies at a mini-pilot plant have simplified the project’s flowsheet. Busy on a number of fronts, a company priority remains producing samples to send to potential JV or offtake partners, who might then take part in the pre-feas.

“It would make sense to have a potential partner offer input on what our production scenario would be,” Grove points out. “We have a huge deposit and we can go bigger, go smaller or stay the same. So advice from a potential partner does make sense before we actually complete the pre-feas.”

Using a 1.25% cutoff, Ashram’s 2012 resource shows 1.59 million tonnes averaging 1.77% total rare earth oxides measured, 27.67 million tonnes averaging 1.9% indicated and 219.8 million tonnes averaging 1.88% inferred. The near-surface deposit remains open to the north and south, and at depth.

Ashram hosts REEs largely in monazite and to a lesser extent bastnasite and xenotime, minerals that dominate commercial extraction. Ashram’s distribution shows enrichment in the critical and magnet feed elements neodymium, praseodymium, europium, terbium, dysprosium and yttrium.

Read more about Commerce Resources.

Commerce Resources resumes drilling at Quebec’s Ashram rare earths deposit

August 17th, 2016

by Greg Klein | August 17, 2016

With nearly $2 million in fresh financing, Commerce Resources TSXV:CCE begins another round of definition drilling on its Ashram rare earths deposit in northern Quebec. The 14-hole, 1,600-metre near-surface campaign brings the project closer to pre-feasibility, targeting the deposit’s northern, western and southern margins. Mineralization has expanded north and south since the 2012 resource estimate, remaining open in those directions.

Commerce Resources resumes drilling at Quebec’s Ashram rare earths deposit

The near-surface Ashram deposit gets another
round of drilling as pre-feasibility studies continue.

The resource defined 1.6 million tonnes averaging 1.77% total rare earth oxides measured, 27.7 million tonnes averaging 1.9% indicated and 219.8 million tonnes averaging 1.88% inferred. Rare earth elements are found mostly in monazite and to a lesser extent bastnasite and xenotime, minerals that dominate currently known commercial extraction processes, Commerce stated.

The distribution shows enrichment in the critical and magnet feed elements neodymium, praseodymium, europium, terbium, dysprosium and yttrium. Metallurgical studies continue to simplify the project’s flowsheet and have shown a potential fluorspar byproduct.

One of this season’s holes will test a gravity anomaly south of the deposit for a potential new zone of middle and heavy rare earth oxide enrichment. Ashram’s main zone of enrichment also features a strong gravity anomaly.

Additionally, the program includes hydrogeological and environmental work to advance the pre-feas. Work is expected to last eight to 10 weeks.

In June Quebec granted the company $300,000 towards its environmental studies. Among other announcements, Commerce reported an MOU with a Glencore Canada division which would supply sulphuric acid for metallurgical use.

Last week the company closed the second tranche of a short-form prospectus that totalled nearly $1.45 million and a private placement of $551,040.

In southeastern British Columbia, Commerce holds the Blue River tantalum-niobium deposit, which reached PEA in 2011 and a resource update in 2013.

Read more about Commerce Resources.

Commerce Resources president Chris Grove remarks on China’s manipulation of an ongoing territorial dispute

June 27th, 2016

…Read more

Exploring opportunity

June 17th, 2016

A capacity crowd attends the first annual Vancouver Commodity Forum

by Greg Klein
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A capacity crowd attends the first annual Vancouver Commodity Forum

 

“There’s excitement in the air,” said Cambridge House International founder Joe Martin. That’s the mood he senses as junior explorers emerge from the downturn. And certainly optimism was evident on June 14 as more than 450 people converged on the Vancouver Commodity Forum for an afternoon of expert talks amid a showcase of two dozen companies. Keynote speakers included Martin, Chris Berry of the Disruptive Discoveries Journal, Jon Hykawy of Stormcrow Capital, John Kaiser of Kaiser Research Online and Stephan Bogner of Rockstone Research.

A capacity crowd attends the first annual Vancouver Commodity Forum

Lithium, not surprisingly, stood out as a commodity of interest. While cautioning against over-enthusiasm for the exploration rush, Berry and Hykawy each affirmed the need for juniors to find new sources of the metal. Cobalt and scandium featured prominently too, as did other commodities including what Kaiser called “the weird metals”—lesser known stuff that’s vital to our lives but threatened with security of supply.

Kaiser also noted he was addressing a crowd larger than his last PDAC audience, another indication that “we’ve turned the corner.”

Attendees also met and mingled with company reps. Potential investors learned about a wide gamut of projects aspiring to meet a growing demand for necessities, conveniences and luxuries.

Presented by Zimtu Capital TSXV:ZC, the forum’s success will make it an annual event, said company president Dave Hodge. Berry emceed the conference, holding the unenviable task of “making sure Dave stays well-behaved.”

Read interviews with keynote speakers:

Meet the companies

Most companies were core holdings of Zimtu, a prospect generator that connects explorers with properties and also shares management, technical and financing expertise. Zimtu offers investors participation in a range of commodities and companies, including some at the pre-IPO stage.

After sampling high-grade lithium on its Hidden Lake project in the Northwest Territories earlier this month, 92 Resources TSXV:NTY plans to return in mid-July for a program of mapping, exposing spodumene-bearing pegmatite dykes, and channel sampling. The company closed the final tranche of a private placement totalling $318,836 in April. Hidden Lake’s located near Highway 4, about 40 kilometres from Yellowknife and within the Yellowknife Pegmatite Belt.

With one of the Athabasca Basin’s largest and most prospective exploration portfolios, ALX Uranium TSXV:AL has a number of projects competing for flagship status. Among them is Hook-Carter, which covers extensions of three known conductive trends, one of them hosting the sensational discoveries of Fission Uranium TSX:FCU and NexGen Energy TSXV:NXE. ALX’s strategic partnership with Holystone Energy allows that company to invest up to $750,000 in ALX and retain the right to maintain its ownership level for three years. ALX closed a private placement first tranche of $255,000 last month, amid this year’s busy news flow from a number of the company’s active projects.

A capacity crowd attends the first annual Vancouver Commodity Forum

Arctic Star Exploration TSXV:ADD boasts one of northern Canada’s largest 100%-held diamond exploration portfolios. Among the properties are the drill-ready Stein project in Nunavut and others in the Lac de Gras region that’s the world’s third-largest diamond producer by value. North Arrow Minerals TSXV:NAR holds an option to earn up to 55% of Arctic Star’s Redemption property.

Aurvista Gold TSXV:AVA considers its Douay property one of Quebec’s largest and last undeveloped gold projects. The Abitibi property has resources totalling 238,400 ounces of gold indicated and 2.75 million ounces inferred. Now, with $1.1 million raised last month, the company hopes to increase those numbers through a summer program including 4,000 metres of drilling. Douay’s 2014 PEA used a 5% discount rate to forecast a post-tax NPV of $16.6 million and a post-tax IRR of 40%.

Looking for lithium in Nevada, Belmont Resources TSXV:BEA now has a geophysics crew en route to its Kibby Basin property, which the company believes could potentially host lithium-bearing brines in a similar geological setting to the Clayton Valley, about 65 kilometres south. Results from the gravity survey will help identify targets for direct push drilling and sampling.

A mineral perhaps overlooked in the effort to supply green technologies, zeolite has several environmental applications. Canadian Zeolite TSXV:CNZ holds two projects in southern British Columbia, Sun Group and Bromley Creek, the latter an active quarrying operation.

With a high-grade, near-surface rare earths deposit hosted in minerals that have proven processing, Commerce Resources TSXV:CCE takes its Ashram project in Quebec towards pre-feasibility. The relatively straightforward mineralogy contributes to steady progress in metallurgical studies. Commerce also holds southeastern B.C.’s Blue River tantalum-niobium deposit, which reached PEA in 2011 and a resource update in 2013.

Permitted for construction following a 2014 PEA, Copper North Mining’s (TSXV:COL) Carmacks copper-gold-silver project now undergoes revised PEA studies. The agenda calls for improved economics by creating a new leach and development plan for the south-central Yukon property. In central B.C. the company holds the Thor exploration property, 20 kilometres south of the historic Kemess mine.

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Commerce Resources’ rare earths project gets $300,000 Quebec environmental grant

June 16th, 2016

by Greg Klein | June 16, 2016

As pre-feasibility work continues on the northern Quebec Ashram deposit, the provincial government awarded Commerce Resources TSXV:CCE $300,000 to optimize tailings management. Announced June 16, the three-year grant comes jointly from les Fonds de recherche du Québec—Nature et technologies and le Ministre de l’Énergie et des Ressources naturelles.

The money will help research methods of recycling and managing residue from Ashram’s metallurgical flowsheet, the company stated. The project will also look at processing an acid-grade fluorspar byproduct.

Commerce Resources’ rare earths project gets $300,000 Quebec environmental grant

“This work will be completed in partnership with the Centre Eau Terre Environnement of the Institut national de la recherche scientifique, a research-oriented branch of the Université du Québec, which has considerable experience in environmental management and sustainability,” Commerce stated. Results will be incorporated into Ashram’s pre-feas study.

With metallurgical work underway at a mini-pilot plant in Colorado, the company has reported progress in simplifying the flowsheet, showing potential cost reductions. Commerce emphasizes Ashram’s key distinction, in which the high-grade, near-surface deposit is hosted in the minerals monazite, bastnasite and xenotime, which have proven processing.

In April the company announced a binding memorandum of understanding with a Glencore division to supply Ashram with sulphuric acid for metallurgical use. That same month Commerce stated Tugliq Energy was studying the potential of wind-generated electricity for Ashram. Two northern Canadian mines currently rely on wind for part of their energy supply.

Late last year Ashram won the e3 Plus Award for responsible exploration from l’Association de l’exploration minière du Québec. In January the company closed the second tranche of a private placement totalling $1.97 million.

Commerce also holds the Blue River tantalum-niobium deposit in southeastern British Columbia, which reached PEA in 2011 and a resource update in 2013.

Read more about Commerce Resources.

Read Chris Berry’s report: Building a Non-Chinese Rare Earth Supply Chain.

Renewed tensions between China and Japan recall 2010 rare earths crisis

June 9th, 2016

by Greg Klein | June 9, 2016

A territorial conflict in the East China Sea flared up again as Japan protested a Chinese warship entering disputed waters. Japan’s vice foreign minister formally objected to the Chinese ambassador on June 8, according to Reuters.

Renewed tensions between China and Japan recall 2010 rare earths crisis

China’s defence ministry defended its actions, telling the news agency, “Chinese naval ships sailing through waters our country has jurisdiction over is reasonable and legal. No other country has the right to make thoughtless remarks about this.”

The dispute concerns islands known as Senkaku in Japan and Diaoyu in China, Reuters added. Coastguard vessels from both countries enter the area regularly, but this is the first visit by a Chinese warship, the agency stated.

A September 2010 incident in the same waters set off a supply crisis for rare earths. Japan arrested a Chinese fishing captain after he twice rammed his boat against a Japanese naval vessel. China responded by cutting off rare earths exports to Japan, pushing REE prices as high as 3,000%, recalls Commerce Resources TSXV:CCE president Chris Grove.

With a rare earths project in northern Quebec and a tantalum-niobium project in British Columbia, he follows geopolitical issues affecting critical supply and demand. Grove says the recent incident reflects a larger problem of “simmering animosity towards the Japanese, which is being stoked by the Chinese government,” as well as the country’s nationalist aggression towards its other neighbours.

“Probably all Chinese governments since 1939 have been more than willing to remind their people about Japan and the Rape of Nanking. From all my time in China, I find it jaw-dropping how often the government, through their media, exhort the people of China to remember Nanking.”

Grove considers China’s 2010 actions “nothing short of brilliant, using a really small geopolitical incident to unilaterally cut off supplies of rare earth elements to Japan, and that’s the world’s second-biggest market. Japan was completely screwed. It brings to mind the tools China has at its disposal.”

Around the same time as the Chinese navy’s June 8 incursion, three Russian naval vessels also sailed near the disputed islands, “raising concern in Japan of a co-ordinated show of force by Beijing and Moscow,” Reuters stated.

One day earlier the U.S. said a Chinese fighter jet confronted an American spy plane at an “unsafe, excessive speed” in international airspace over the East China Sea, the Wall Street Journal reported. It was the second encounter of its kind in a month.

The 2010 incident inspired David S. Abraham’s book The Elements of Power: Gadgets, Guns, and the Struggle for a Sustainable Future in the Rare Metal Age.

Commerce Resources president Chris Grove comments on a binding MOU with a division of Glencore Canada

May 3rd, 2016

…Read more

Commerce Resources considers wind energy for the Ashram rare earths deposit

April 21st, 2016

by Greg Klein | April 21, 2016

Two off-grid northern Canadian mines already use renewable green energy and it shows potential for the Ashram rare earths project in Quebec, Commerce Resources TSXV:CCE announced April 21. With preliminary data showing favourable wind speeds, the possibility of wind-generated electricity will be incorporated into Ashram’s prefeasibility study, now underway.

The Rio Tinto NYSE:RIO/Dominion Diamond TSX:DDC Diavik diamond mine in the Northwest Territories generates all its electricity from two diesel plants and a four-turbine wind farm operating since 2012. Since 2014, Tugliq Energy has owned and operated a wind turbine that augments diesel power at Glencore’s Raglan nickel mine in northern Quebec.

Commerce Resources considers wind energy for its Ashram rare earths deposit

Tugliq Energy owns and operates this wind turbine
for Glencore’s Raglan mine. (Photo: Tugliq Energy)

Along with regional data, Tugliq has incorporated wind speed data collected since early 2013 at a weather station about one kilometre from Ashram into a common dataset. Preliminary figures show wind speeds higher than those of Diavik.

“Based on the encouraging findings, the company is advancing towards a collaborative agreement with Tugliq in order to prepare a more definitive assessment of the wind power generation potential at Ashram,” Commerce stated. Tugliq’s research will be considered in Ashram’s ongoing pre-feas study.

Earlier this month Commerce announced a binding memorandum of understanding with NorFalco Sales, a division of Glencore Canada Corp, to supply sulphuric acid at “highly competitive market rates and terms” for metallurgical use at Ashram. The relationship might also hold future potential for supply from Commerce.

Last month the company reported metallurgical tests that indicated a potential fluorspar byproduct. A mini-pilot plant using Ashram’s base case beneficiation flowsheet produced over 50 fluorspar concentrates.

Metallurgical tests announced in February continued to simplify Ashram’s flowsheet for a deposit hosted in the minerals monazite, bastnasite and xenotime, which have proven rare earths processing techniques.

Additionally, a resource update will accompany the pre-feas to factor in high-grade, near-surface assays.

On a different note, community engagement won Commerce an award for social, environmental, and health and safety practices from l’Association de l’exploration minière du Québec.

In southeastern British Columbia the company also holds the Blue River tantalum-niobium deposit, which has a 2011 PEA and a 2013 resource update.

Read more about Commerce Resources.

Read Chris Berry’s report: Building a Non-Chinese Rare Earth Supply Chain.

Watch a Tugliq Energy video showing its Raglan wind project under construction.