VANCOUVER, Sept. 4 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE:
D7H) (the "Company" or "Commerce") announces that the summer field program has
resulted in the identification a new rare earth (REE) zone at the Eldor
Project in northern Quebec, Canada. The new zone, called the Ashram Peninsula,
is associated with an approximately 1 km wide by 0.8 km long magnetic low
where mineralization was discovered in outcrop with assays greater than 1.00 %
REE+Y consistently returned over multiple samples. The area is also the
postulated source for an adjacent glacially dispersed mineralized boulder
train in which sampling previously returned assays as high as 4.18% REE+Y.
Because of the potential significance of this new discovery, the Company is
mobilizing a field crew for immediate follow-up sampling. A mapping,
prospecting and sampling program will be completed in order to define drilling
targets.
A map showing the location of the Ashram Peninsula along with rock
samples is available for download at:
http://www.commerceresources.com/s/Eldor.asp
The Company is also pleased to report that summer prospecting produced a
boulder assay of 1,408 g/t tantalum (Ta(2)O(5)), 6,171 g/t niobium
(Nb(2)O(5)), and 0.16% uranium (U(3)O(8)) in the vicinity of the single drill
hole drilled at the Star Trench Area in 2008 (EC08-025). The presence of such
high grade mineralization points to the niobium-tantalum potential of the zone
and the larger property that continues to be evident.
Summer Exploration Program Results
A total of 61 rock, 48 trench, and 5 soil samples were collected during
the summer field program from various locations at the property. In addition,
102 drill core samples were collected from previously unsampled drill core, to
provide additional information on non-radioactive, niobium-tantalum
mineralized zones.
Rock sampling at a 1 km by 0.8 km magnetic low helped identify the new
Ashram Peninsula REE mineralized zone. The zone has been defined by multiple
outcrop samples returning greater than 1% REE+Y and is adjacent to a glacially
dispersed boulder train that returned assays of up to 4.18% REE+Y. Soil
samples were collected at locations where rock sampling was not possible. Of
the five samples collected, two returned greater than 0.80% REE+Y (0.85% and
1.07%).
The high rare earth values at the Ashram Peninsula are generally within a
moderately radioactive, fine-to very fine grained, massive, grey-green
carbonatite. Variable amounts of fluorite, disseminated pyrite and other
unknown minerals are present. Rare earth mineralization has previously been
reported at the Eldor Property within the minerals monazite ((La,Ce,Nd)PO(4)),
bastnasite ((Ce,La,)CO(3)F) and xenotime (YPO(4)).
