Commerce Resources Corp. (TSXV:CCE,OTCQX:CMRZF) announced plans for their 2013 field program at its Ashram Rare Earth Element (REE) Deposit located in Northern Quebec.
As quoted in the press release:
A six to eight week field program is anticipated to commence July 15, 2013, which will include 1,000 to 1,500 m of drilling targeted at the Ashram Rare Earth Deposit. Drilling will focus on infill holes in order to increase the resource confidence from the current inferred category to the indicated and/or measured categories. The Deposit has currently 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.
Commerce’s President, David Hodge, said:
We are fortunate to be in a position to move the project forward at this stage with cash on hand given the current markets. There is solid room for optimization in all facets of this project and we are very excited about the de-risking we have completed and continue to achieve during our Pre-feasibility work.