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Commerce Resources Corp. (CVE:CCE) reports that it has completed a new National Instrument 43-101 compliant resource estimate for the Upper Fir tantalum-niobium deposit, at its Blue River project, British Columbia.
The press release is quoted as saying:
The mineral resource estimate is supported by a base case price assumption of US$317/kg Ta, which is significantly higher than historic average prices. Market analysts are in general agreement that current political and market conditions support the probability of sustained higher prices, but this may not occur.
Commerce Resources’ President and CEO, Dave Hodge says:
“The AMEC Resource Estimate for the Upper Fir Tantalum-Niobium Deposit reported today is further confirmation of Commerce’s belief that we are in the process of building a very important long-term source of ethical tantalum.” “Results remain pending for additional drilling completed in 2010, and we are eagerly awaiting the results of AMEC’s PEA, which is based on drilling to the end of the 2009 field season. All indications are that we will be able to enhance even further the quality of the resource. Of necessity, the impending PEA is based on conservative pricing. However, recent developments in global tantalum and niobium markets suggest significant near term upside”.