Saville Resources Inc. [SRE-TSXV] and Commerce Resources Corp. [CCE-TSXV; CMRZF-OTC; D7H-FSE] reported sample assay results for the maiden drill holes (EC21-178, 179, 180 and 181) completed at the Miranna prospect as part of their 2021 diamond drill program at their niobium claim group property, located in northern Quebec.
The 2021 drill program, completed in July, included seven holes totalling 1,349 metres split over two prospects – Mallard (681 m over three holes) and the Miranna prospect (668 m over four holes). The results of the drill holes targeting the Mallard prospect were announced November 1, 2021, and include the best niobium intersection to date. The maiden drilling at Miranna followed and has also demonstrated the potential for greater than 1 per cent Nb2O5 (niobium pentoxide) mineralization at depth.
Core sample assay highlights at Miranna include 20.4 metres of 0.72% Nb2O5 and 5.7% P2O5 (phosphorous pentoxide) (EC21-180), including 3.1 metres of 1.20% Nb2O5 and 7.6 per cent P2O5; 4.6 metres of 0.97% Nb2O5 and 6.4% P2O5.
The four drill holes completed at Miranna are the first to date to test the prospect and were scoping in nature. Each drill hole, ranging in depth from 140 to 236 metres, was designed to test a different area of the geophysical anomaly that defines the prospect – the north-northwest margin, east-northeast margin and the anomaly centre – with the objective of identifying the most prospective area for follow-up. The company is pleased to report that drill hole EC21-180 achieved this objective, returning significant mineralization downhole, including 1.20% Nb2O5 over 3.1 metres within a larger interval of 0.72% Nb2O5 over 20.4 metres. The potential of this area is further emphasized by the additional mineralization encountered from surface in drill hole EC21-180 at 0.61 per cent Nb2O5 over 7.9 m. Core assay highlights for all four Miranna holes are presented in a table and image on the company’s website.
Mike Hodge, president and CEO Saville, commented: “It is a major milestone to have drilled our first holes at Miranna after significant groundwork to hone in on the interpreted bedrock source. This is a grassroots discovery developed by our field geologists over several years and we are excited to follow up this near-surface greater-than-1%- Nb2O5-mineralized intersection. Coupled with Mallard located within one km to the south, the niobium potential of the area continues to impress.”
The company’s principal asset is the niobium claim group property, situated within the central Labrador Trough, Quebec, and under earn-in agreement from Commerce Resources for up to a 75% interest. The property consists of 26 contiguous mineral claims, encompassing an area of approximately 1,223 hectares, and is considered prospective for niobium, tantalum, phosphate and fluorspar. The property includes the Miranna prospect, where prior boulder sampling in the area has returned 5.% Nb2O5 and 1,220 ppm Ta2O5 (tantalum pentoxide), as well as the Mallard prospect where drilling has returned wide intercepts of mineralization, including 1.00% Nb2O5 over 17.1 metres, within a larger interval of 0.82% Nb2O5 over 42.3 metres (EC19-175).