Commerce Resources Corp (TSXV:CCE) has updated its NI 43-101 mineral resource for the Upper Fir tantalum-niobium deposit in Blue River, British Columbia.
Commerce Resources Corp (TSXV:CCE) has updated its NI 43-101 mineral resource for the Upper Fir tantalum-niobium deposit in Blue River, British Columbia. The report, compiled with assistance of AMEC, boosts the indicated resource estimate to 48.4 million tonnes of 191 oomtantalum (Ta2O5) and 1,610 ppm niobium (Nb2O5). Furthremore, an inferred mineral resource of 5.4 million tonnes of 191 ppm ta2O5 and 1,760 Nb2O5 has been identified.
Highlights from the study include:
- Changes result from improved geological interpretation of the mineralized carbonatite host, the grade distribution found in 2011 infill diamond drilling and the increase in Ta metal price over time.
- Approximately 90% of the tantalum and niobium reside in Indicated resource category.
- AMEC’s “Blue River Tantalum-Niobium Project, British Columbia, Canada, NI 43-101 Technical Report on Mineral Resource Update”, with an effective date of June 21, 2013, will be filed for public disclosure (www.SEDAR.com) within 45 days following this news release.
- With the significant milestone of this resource update successfully achieved, AMEC has recommended a $13.9Mprogram to support a pre-feasibility level study on the Upper Fir deposit.
Dave Hodge, President of Commerce Resources, commented:
We are again extremely pleased with the results of this study which represents a major milestone in the progress to develop the Upper Fir. The resource reported today is further confirmation of Commerce’s belief that we are in the process of building a very important long-term source of conflict free and ethical tantalum which could potentially supply 10% of the current world’s market for the long term. Results of all the technical work completed to date give solid evidence of the quality of the mineral resource. Commerce continues to be active in its search for a strategic partner who will work with us to define appropriate project financing options to support the recommended pre-feasibility studies.