Commerce Resources Corp. Intersects 2.32% TREO over 96.66 m and expands MHREO Zone at the Ashram Rare Earth Deposit, Northern Quebec

Commerce Resources Corp. Intersects 2.32% TREO over 96.66 m and expands MHREO Zone at the Ashram Rare Earth Deposit, Northern Quebec

July 2, 2014 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the “Company”) is pleased to announce assay results from its 2014 winter drill program at the 100% owned Ashram Rare Earth Deposit located in Northern Quebec.

The drill program, which finished on schedule and under budget, consisted of twelve near-surface holes (1,557 m), located within the current defined extent of the Ashram Deposit, and further delineated the Middle and Heavy Rare Earth Oxide Zone (MHREO Zone).


  • Discovery of a potential in-pit extension to the MHREO Zone via the following intersections:
    • EC14-103 with 42.39 m of 1.60% TREO at 11.6% MH/T(1)
    • EC14-100 with 48.87 m of 1.47% TREO at 12.0% MH/T
  • Continued high grade intercepts at grades higher than the resource grade previously announced (see news release dated March 6th, 2012), and central to the pit shell identified in the Preliminary Economic Assessment (see news release dated May 24th, 2012).
    • EC14-098: 2.13% TREO over 172.66 m, including 2.32% over 96.66 m
    • EC14-101: 1.97% TREO over 162.47 m, including 2.25% over 56.32 m
    • EC14-099: 2.01% TREO over 81.00 m

(1) MH/T = (MREO + HREO) / TREO expressed as a percent.

The map below shows the locations of the 2014 drill holes and may be viewed at


President Dave Hodge comments: “The Ashram Deposit continues to exceed our expectations in nearly all respects. The winter program, which drilled holes inside the previously identified resource, not only increased our confidence in the resource model, but appears to have expanded the identified MHREO Zone, the most valuable zone in the deposit, as well as returning high grade TREO intercepts in adjacent material. Coupled with its simple rare earth mineralogy which is amenable to >40% TREO mineral concentrate grades at high recovery, our Ashram Deposit is clearly a standout in the REE space.”

A complete listing of drill results may be found below.

MHREO Zone Extension

The recent infill program indicates the zone of MHREO enrichment identified within the open-pit modelled in our previous PEA extends beyond the area of the original interpretation. This is best evidenced in hole EC14-103 with 42.39 m of 1.60% TREO at 11.6% MH/T and hole EC14-100 with 48.87 m of 1.47% TREO at 12.0% MH/T where a clear extension of the MHREO Zone can be interpreted. Please see select cross-section located here:


In addition, EC14-099 bottomed unexpectedly in strong MH/T mineralization (32.48 m of 1.41% TREO at 12.6% MH/T) at a depth of 192.02 m, further suggesting that a more extensive MHREO mineralizing system is present than originally indicated.

Additional MHREO mineralized intersections within the current interpreted zone include EC14-098 with 34.50 m of 1.80% TREO at 10.5% MH/T (including 38 ppm Tb2O3 and 160 ppm Dy2O3) and EC14-099 with 64.50 m of 1.68% TREO at 12.1% MH/T (including 38 ppm Tb2O3 and 153 ppm Dy2O3). Theseterbium and dysprosium grades compare favourably with some of the better known heavy rare earth deposits in the REE space (e.g. Kipawa), except at Ashram these values are complemented by considerable enrichment in neodymium and europium.

Management cautions that no additionally interpreted MHREO Zone material may be attributed to the MHREO Zone Resource until such time as the resource is updated and signed off by an Independent Qualified Person under NI 43-101 Standards for Disclosure. Further, no guarantee exists that the MHREO Zone resource will be modified from its current resource extent.

Strong TREO Intersections Returned Above Previously Reported Resource Grade

The Ashram Deposit has a measured and indicated resource of 29.3 million tonnes at 1.90% TREO and an inferred resource of 219.8 million tonnes at 1.88% TREO, based on 45 holes and 15,692 metres drilled. This also includes the MHREO Zone resource with 6.6 million tonnes of 1.63% TREO at 11.3% MH/T (measured and indicated), and 2.8 million tonnes of 1.57% TREO at 11.1% MH/T (inferred) (See news releases dated March 6th and May 24, 2012).

In addition to the interpreted extension of the MHREO Zone, strong TREO mineralization was also intersected in the surrounding mineralized material within the pit shell identified in the PEA. Highlighted results include: EC14-098 with 2.13% TREO over 172.66 m, including 2.32% over 96.66 m; EC14-101 with 1.97% TREO over 162.47 m, including 2.25% over 56.32 m; and EC14-099 with 2.01% TREO over 81.00 m. These intersection grades are higher than the resource categories previously reported (1.90% TREO measured and indicated, and 1.88% TREO inferred).

Geotechnical Drilling

Three short holes (<25 m) were completed to assess the projected location of the dyke on Centre Pond. The information from these holes will determine whether more drilling will be required to locate the position of the dyke(s). Data collected will also assist with resource modelling and related project parameters for future development.

Table 1: 2014 Drill Hole Analytical Results

Hole IDFrom
Nd Oxide
Eu Oxide
Tb Oxide
Dy Oxide
Y Oxide
EC14-0984.92194.16189.243325112291225362.067.68.1Bottomed in 2.49% TREO
MHREO Enriched
EC14-0995.10192.02186.923145125331366881.8010.19.0Bottomed in 1.39% TREO
MHREO Enriched
159.54192.0232.482614118341476751.4112.67.2Bottomed in 11.9% MH/T
EC14-10011.28194.16182.883041116281155281.719.27.9Bottomed in 2.98% TREO
MHREO Enriched
EC14-10110.06172.53162.473314114291236041.978.48.4Bottomed in 2.60% TREO
MHREO Enriched
EC14-1027.35136.00128.653009100251034611.748.07.5Bottomed in 1.97% TREO
MHREO Enriched
EC14-10317.27157.58140.312974116301235251.739.28.3Bottomed in 1.65% TREO
MHREO Enriched
EC14-104Geotechnical hole, No Mineralization (Max 0.48% TREO)
EC14-105Geotechnical hole, No Mineralization (Max 0.54% TREO)
EC14-1068.86139.29130.4325468820803681.507.77.3Bottomed in 1.37% TREO
MHREO Enriched
EC14-1077.43154.53147.1030009623965111.817.68.3Bottomed in 1.71% TREO
MHREO Enriched
EC14-108Geotechnical hole, weak mineralization (Max 0.90% TREO)
EC14-1099.40154.29144.892971106251004401.767.98.4Bottomed in 2.08% TREO
MHREO Enriched

MH/T = (MREO + HREO) / TREO expressed as a percent.Composited to account for 2.14 m of zone lost in transit, thus, preventing analysis. The interval will be re-collected from the remaining core on-siteComposited to account for 7.82 m of zone lost in transit, thus, preventing analysis. The interval will be re-collected from the remaining core on-siteAll samples were sent to Activation Laboratories of Ancaster, Ontario for analysisCaF2 is calculated based on F analysis using a conversion factor of 2.055 on the assumption all F is sourced from fluorite

NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on deposits of rare metals and rare earth elements. The Company is focused on the development of its Upper Fir Tantalum and Niobium Deposit in British Columbia and the Ashram Rare Earth Deposit in Quebec.

For more information please visit the corporate website at https://commerceresources.com or contact Investor Relations at 1.866.484.2700 or info@commerceresources.com.

On Behalf of the Board of Directors

“David Hodge”
David Hodge
President and Director
Tel: 604.484.2700
Email: dhodge@commerceresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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