November 1, 2021 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H0, OTCQX: CMRZF) (the “Company” or “Commerce”) is pleased to announce sample assay results for the first three (3) drill holes from Saville Resources Inc.’s (TSXv: SRE, FSE: S0J) (“Saville Resources”) 2021 diamond drill program at the Niobium Claim Group Property (the “Property”), located in northern Quebec. The Property covers several prospective and advanced-stage niobium-tantalum targets, where Saville Resources is completing an Earn-in Agreement for up to a 75% interest in the claim group.
The 2021 drill program, completed in July, included seven (7) holes totalling 1,349 m split over two prospects – Mallard (681 m over 3 holes) and the Miranna Prospect (668 m over 4 holes). Core sample assay highlights at Mallard include:
The initial three holes of the drill program, completed at the at the Mallard Prospect (EC21-175, 176, and 177), were designed as 50 m step-outs along strike to the southeast of the high-grade intersection in drill hole EC19-174A, which was completed as the final drill hole of the 2019 program, returning 1.36% Nb2O5 over 4.5 m, within a larger interval of 0.80% Nb2O5 over 31.5 m (see news release dated June 11th, 2019). The Company is pleased to report that the 2021 drill program has returned the best niobium intercept to date from the Property at 1.00% Nb2O5 over 17.1 m, within a larger interval of 0.82% Nb2O5 over 42.3 m, including a peak sample assay of 1.73% Nb2O5 (Table 1).In addition to the high-grades of niobium, drill intercepts continue to return coincident and significant tantalum and phosphate mineralization.
Table 1: 2021 drill hole results for the Mallard Prospect
All drill holes completed at Mallard were completed at an orientation of 230°/45°, to cross-cut the local geological trend, with depths ranging from 221 to 239 m.
The Mallard Prospect is characterized by a series of sub-parallel, elongate, moderate-steeply dipping, northwest striking mineralized horizons that extend from surface and remain open in all directions. These higher-grade mineralized horizons are surrounded by halos of moderate to low grade niobium mineralization. Coincident and significant grades of tantalum and phosphate are also associated with both moderate and high-grade niobium zones. In addition, well-mineralized fluorite zones were encountered in the 2021 Mallard drill holes, supporting the interpreted extension of the fluorite zone to the southeast (Table 2).
Table 2: 2021 fluorspar drill intercepts at the Mallard Prospect
Given the elongate nature of the mineralization at Mallard, as well as the moderate-steep dip, the mineralized horizons encountered at depth in each hole have a reasonable potential to continue down-dip, as well as up-dip and potentially to surface. Drill hole EC21-175 was collared in mineralization with 0.75% Nb2O5 over 9.5 m confirming potential for additional subparallel zones to the northeast, an area of Mallard that remains to be drill tested.
In addition, the high-grade mineralization encountered in the 2021 Mallard drill holes is present within 110 m of surface. Coupled with the presence of numerous high-grade, glacially dispersed boulders, suggests that open-pit extraction methods may be potentially applicable in a development scenario. By comparison, several of the more advanced niobium focused projects in North America are being developed using underground extraction scenarios due to significant amounts of overburden, including North America’s only operating niobium mine – Niobec. Overburden thickness at Mallard ranges from 2 to 5 m.
Saville Resources is in the process of updating the geological model at Mallard, which will guide targeting for the next phase of drilling, planned for 2022.
Core sample assays for the four (4) drill holes (668 m) completed at the Miranna Prospect, immediately following the drilling at Mallard, have not yet been received. The drilling at Miranna, marks the first drill testing to date at that prospect.
The Miranna Prospect is characterized by a strongly mineralized (niobium-tantalum-phosphate), glacially dispersed boulder train with an apex that correlates with a distinct magnetic high anomaly. Sample assays of the mineralized boulders from the train include 5.93% Nb2O5, 310 ppm Ta2O5, and 11.5% P2O5; and 4.30% Nb2O5, 240 ppm Ta2O5, and 13.4% P2O5; as well as multiple additional samples grading >1% Nb2O5. The drill holes at Miranna are targeting the interpreted bedrock source of this mineralized boulder train. Geological logging of the 2021 Miranna drill core has identified coarse-grained (up to 0.5 cm) pyrochlore mineralization present in each hole, primarily hosted within a magnetite-calcite Carbonatite rock unit.
The Company notes that the field programs were carried-out while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. The process to enter Nunavik was successfully navigated with authorization obtained to complete the planned field activities. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec. The Company is also pleased to report that no cases of COVID-19 were documented with respect to the 2021 exploration program.
Quality Assurance / Quality Control (QAQC)
A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the program and included systematic insertion of quartz blanks and certified reference materials into sample batches, as well as collection of quarter-core duplicates, at a rate of approximately 5%. Drill holes were sampled from top to bottom, for a total of 933 samples including QAQC, and were shipped to Activation Laboratories in Ancaster, ON for analysis.
Lab analysis included niobium, tantalum, and major oxides by XRF (package 8-Coltan XRF + Major Oxides) and fluorine by Fusion Specific Ion Electrode-ISE (Code 4F-F). The fluorspar content (CaF2) is approximated by multiplying the fluorine assay by 2.055 and assumes the fluorspar is the sole source to the fluorine. However, a limited to negligible amount of fluorine may be attributed to fluorapatite, which maybe present with the fluorite in the sample. Therefore, the CaF2 grade noted is best represented as an approximation of the fluorspar content. Standard drill core sample preparation was completed and comprised of crushing to 80% passing 10 mesh, followed by a 250 g riffle split and pulverizing to 95% passing 105 µ (package RX1). Additional sample analysis is anticipated.
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