Commerce Resources Corp. (CVE: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.”