Commerce Resources Corp. (TSXV:CCE) (OTCQX:CMRZF) has received positive assay results received for the first four holes completed at the Ashram Rare Earth and Fluorspar Deposit in Quebec as part of the 2021 drill programme.
The field programme, completed in July-August 2021 in support of the Ashram Project’s Prefeasibility Study, included 12 drill holes totalling 2,814 m focused on resource infill within the planned open-pit shell.
Core sample assay highlights include:
- 2.19% rare earth oxide (“REO”) over 302.0 m (EC21-187), including, 2.94% REO over 35.5 m
- 2.14% REO over 222.7 m (EC21-185), including, 2.35% over 93.5 m
- 1.71% REO over 297.6 m (EC21-183), including, 2.25% over 25.3 m
- 2.44% REO over 24.0 m (EC21-182)
The primary objective of the 2021 drill programmw at Ashram was to improve the confidence of the mineral resource (inferred -> indicated -> measured) in support of an updated mineral resource estimate to be completed as part of the ongoing Prefeasibility Study, which will also determine the initial mineral reserve estimate for the Ashram Project. Based on the drilling to date, the company anticipates a large portion of Ashram’s current inferred and indicated resources will be converted to indicated and measured resources.
All four drill holes collared in mineralisation starting at depths of 1.4 – 4.7 m (core length), consistent with previous drilling, with three of the drill holes remaining mineralized over their entire length. The grades of the infill drilling at Ashram continue to remain strong compared to the current resources’ head grades, with wide intervals of greater than 2% REO common.
In addition, the NdPr oxide distribution (i.e. % of Nd+Pr oxide of the total REO) continues to remain very strong compared to active global producers, and commonly ranges from 19 – 24+%, including a 21% NdPr oxide distribution in EC21-187’s 302.0 m interval of 2.19% REO.
The high distribution of NdPr oxide at Ashram is a result of the monazite dominate rare earth mineralogy and unique chemistry and equates to a relatively high-value end-product that Ashram could supply the market with over the long-term.
Drill hole EC21-182 was completed as a vertical step-out at the northern margin of the deposit. The hole collared in mineralisation before trending out of and back into at depth, indicating the geometry of the deposit in this location flares out near surface. The northern margin of the deposit remains open with mineralisation continuing to be intersected in step-out holes, as is evidenced by EC21-182.
Drill holes EC21-183 and 187, were part of a group of four (4) holes (EC21-183, 184, 187, and 193) which targeted the region beneath the shallow bay (<1.5 m water depth) on Centre Pond, in the north-central area of the deposit.
These drill holes were completed at various orientations, resulting in the drill holes crossing the deposit at different oblique angles, and were primarily completed to help constrain the geological model. The drill holes continue to re-enforce the strong mineralisation (and NdPr distribution) in this area of the deposit.
Drill hole EC21-185 was completed in the central area of the deposit and returned strong mineralisation, as expected, at 2.14% REO (20.3% NdPr oxide distribution) over 222.7 m, including 2.35% over 93.5 m. This drill hole ended in strong mineralization with the last 15 m of the hole averaging 2.88% REO, and the last sample assaying 2.69% REO.
As the Ashram Deposit is known to continue for more than 600 m in depth, and remains open, the 2021 drill holes were ended at pre-determined depths below the anticipated pit shell, and therefore, most holes completed as part of the infill drilling at Ashram ended in mineralisation, including EC21-182, 183, 185, and 187.
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