Commerce Resources’ Ashram Rare Earth Element Deposit Confirmed

Commerce Resources Corp. (TSXV:CCE) reports its first National Instrument 43-101 compliant mineral resource estimate for the Ashram REE zone at the Eldor Project, Quebec.

The press release is quoted as saying:

Mineral resources were estimated by SGS Geostat applying four different Total Rare Earth Oxide (“TREO”) cut-off grades, with a base-case resource estimated using a TREO cut-off grade of 1.25%. At this cut-off, the Ashram Zone hosts an Inferred Resource of 117,340,000 tonnes grading 1.74% TREO.

Commerce Resources’ VP of Exploration, Mr. Jody Dahrouge says:

“Commerce’s exploration efforts at the Eldor Project have succeeded in outlining a major new large-tonnage, near-surface rare earth element deposit in about six months from the completion of the first drill hole at the Ashram Zone.” “Exploration during 2011, which will include both step-out and infill drilling, will provide us with the opportunity to significantly expand the deposit, outline locations with high grade mineralisation, and define near-surface zones with significant enrichment in the middle and heavy rare earth elements.”

Click here to access the entire news release.

Click here to access Commerce Resources’ company profile.