Commerce Resources drilling Eldor property, Nunavik, Quebec

Commerce Resources Corp. [TSXV-CCE; OTCQX-CMRZF; FSE-D7H0] has begun a summer drill program, targeting further delineation of niobium and tantalum mineralization at the Mallard and Miranna prospects on the Eldor property, Quebec.

Additionally, multiple geophysical anomalies commonly associated with this type of mineralization will be drill tested. The program is being managed by Dahrouge Geological Consulting Ltd. of Edmonton, Alta., with drilling operations being carried out by Avataa-Rouillier Drilling of Nunavik, Quebec.

A total of 20 to 30 NQ-sized drill holes, for a minimum of 7,500 metres, are planned for the program. One of the main objectives for the 2024 drilling campaign will focus on completing several follow-up drill holes at the Mallard prospect. The first drill hole of the 2021 drill program at Mallard – EC21-175 – returned the best niobium intercept to date from the property at 1% niobium pentoxide over 17.1 metres (and 136 parts per million tantalum pentoxide), within a larger interval of 0.82% Nb₂O₅ over 42.3 metres (and 153 ppm Ta₂O₅.

The company also intends to follow up on the initial drill testing completed at the Miranna prospect in 2021, where four drill holes were designed to test the potential for niobium mineralization of the northwest-trending geophysical anomaly that defines Miranna. The Miranna prospect is characterized by a strongly mineralized (niobium-tantalum-phosphate), glacially dispersed boulder train with an apex that correlates with a distinct magnetic high anomaly.

Drill hole EC21-180 successfully achieved the company’s objective of identifying an area prospective for follow-up, confirming the presence of high-grade mineralization down hole, including 1.20% Nb₂O₅ over 3.1 metres, within a larger interval of 0.72% Nb₂O₅ over 20.4 metres.

The third objective is to follow up on several magnetic high anomalies that are characteristic of the niobium- and tantalum-mineralized carbonatites at the Eldor property. Priority is given to those that are located between the Mallard and Miranna prospects, and those that have a distinct mineralized and glacially dispersed boulder train.

Commerce Resources is focused on the development of the Ashram rare earth and fluorspar deposit, located within their Eldor property, northern Quebec. The Ashram deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large-tonnage resource at favourable grade, and has demonstrated the production of high-grade (30-45% total rare earth oxides) mineral concentrates at high recovery (60-75%) in line with active global producers.

The Ashram deposit also has a fluorspar component, which makes it one of the largest potential sources of fluorspar in the world and could be a long-term supplier to the metspar and acidspar markets. The company is positioning to be one of the lowest-cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or neodymium-praseodymium oxide to the global market. Additionally, Commerce is committed to exploring the potential of other high-value commodities on the property, such as niobium and phosphate minerals, which may help advance Ashram by reducing costs through shared development.