Commerce Resources drills 0.62% Nb2O5 over 122.5 metres at Mallard Prospect, Eldor Property, Quebec
Commerce Resources Corp. [TSXV: CCE; FSE: D7H0; OTCQX: CMRZF] confirmed a significant niobium intercept of 122.5 metres at 0.62% Nb2O5 from near surface at the Eldor Property, located within 2 km of its globally significant Ashram Deposit in Quebec, Canada.
The 2024 summer-fall drill program at the Eldor Property has concluded, with a total of 29 NQ-size diamond drill holes, for approximately 8,253 metres completed between early-July to mid-September 2024. The program had two main objectives: follow-up on the known niobium (±tantalum & phosphate) mineralized carbonatites at the Mallard and Miranna Prospects, and initial drill testing of several geophysical anomalies characteristic of niobium-mineralized occurrences at the Property.
Assay results from the first seven drill holes, which targeted the Mallard Prospect and Spoke, returned strong niobium mineralization. This adds to Commerce’s portfolio of critical element occurrences at the Eldor Property, including the globally significant rare-earth Ashram Deposit, which has 73.2 million tonnes (Mt) at 1.89% TREO (total rare-earth oxide) (indicated), and 131.1 Mt at 1.91% TREO (inferred).
Highlights: Commerce Resources confirms significant niobium mineralization with 122.5m at 0.62% Nb2O5 from near surface at the Mallard Prospect, Eldor Property, located within 2 km of the company’s globally significant Ashram Rare-Earth and Fluorspar Deposit, Quebec, Canada. Core assay results from the first seven (7) drill holes of the 2024 program, which targeted the Mallard Prospect and Spoke Target, are reported herein:
Mallard Prospect: 122.5 m at0.62% Nb2O5and 6.4% P2O5 (EC24-208), including 12.0 m at 0.82% Nb2O5 and 7.5% P2O5; 7.5 m at 1.01% Nb2O5 and 12.3% P2O5; 15.5 m at 0.62%Nb2O5, 360 ppm Ta2O5, and 6.6% P2O5 (EC24-211), including 8.1 m at 0.79% Nb2O5, 439 ppm Ta2O5, and 7.7% P2O5; 42.9 m at 0.60% Nb2O5and 7.1% P2O5 (EC24-211), including, 2.9 m at 1.13% Nb2O5and 12.7% P2O5 and 24.0 m at 0.69% Nb2O5and6.2% P2O5 (EC24-210).
Spoke Target: 27.5 m at 0.60% Nb2O5and 8.7% P2O5 (EC24-212); 17.9 m at 0.66% Nb2O5and 5.2% P2O5 (EC24-213); 21.3 m at 0.60% Nb2O5and 5.8% P2O5 (EC24-213).
Ross Carroll, President and CEO of Commerce, comments: “The company remains focused on the development of the Ashram Deposit and its pending Preliminary Economic Assessment. However, the potential for the Property to hold a significant mineral resource of niobium is something that has been recognized by the Company for many years. Thanks to our experienced exploration team, we continue to deliver highly successful niobium drilling results at the Property, with impressive grades and widths of mineralization providing confidence that a stand-alone niobium project is possible. Additional drilling in support of a maiden mineral resource estimate and subsequent studies for the niobium at Eldor are the logical next steps to unlock the value of this potential, which is situated proximal to Ashram.”
Patrik Schmidt, Vice President of Exploration of Commerce, commented: “The 2024 drill program was highly successful in accomplishing both of our primary objectives. All drill holes testing the geophysical anomalies intersected carbonatite, confirming that Nb-mineralization exists beyond the known targets. Additionally, we are also very pleased with the first batch of results that followed up on known targets. The assays continue to deliver very strong results with substantial intersections of 0.5 to 0.7% Nb2O5 at Mallard and Spoke.”
One of the main objectives for the 2024 drill program was to focus on completing several follow-up drill holes at the Mallard Prospect to further delineate along-strike mineralization potential of carbonatite in this target area. The first drill hole of the 2021 drill program at Mallard –] EC21-175 – returned the best niobium intercept to-date from the property at 1.00% Nb2O5 over 17.1 m (and 136 ppm Ta2O5), within a larger interval of 0.82% Nb2O5 over 42.3 m (and 153 ppm Ta2O5.
The first drill hole of the 2024 campaign (EC24-208) was therefore aimed at testing the extent of down-dip mineralization adjacent to hole EC21-175, and the nearby EC19-174A, which returned similar niobium-mineralized carbonatite intercepts during the 2019 drill program (0.80% Nb2O5 over 31.5 m, including 1.36% Nb2O5 over 4.5 m. Drill hole EC24-208 successfully demonstrated the down-dip continuity of niobium-enrichment within carbonatite intersected at Mallard, with notable high-grade intercepts of 0.82% Nb2O5 over 12.0 m and 1.01% Nb2O5 over 7.5 m, all within a broad interval of 122.5 m of 0.62% Nb2O5. Subsequent drill holes at Mallard (EC24-209 to EC24-211) were designed as step-outs both to the northwest and southwest of previously drill-tested areas of the Mallard Prospect.
The company also followed-up on the initial drill testing that targeted an anomalous magnetic high known as “Spoke” during the company’s inaugural drilling campaign at the property in 2008. Two holes drilled at the Spoke Target (EC24-212 and EC24-213) returned promising results with niobium-mineralized intercepts, including an interval of 27.5 m at 0.60% Nb2O5 starting from 133 m depth in EC24-212 and two intervals in EC24-213 of 17.9 m at 0.66% Nb2O5 starting from 247.7 m in addition to a wider interval of 21.3 m at 0.60% Nb2O5 starting at 278.5 m depth.
Commerce Resources is focused on the development of the Ashram Rare Earth and Fluorspar Deposit located within their Eldor Property, northern Quebec.