Commerce Resources Corp. Files NI 43-101 Technical Report for Initial Resource Estimate for Ashram Rare Earth Deposit, Eldor Property Quebec
VANCOUVER, April 18 /PRNewswire/ -- Commerce Resources Corp. (TSXV: CCE) (FSE: D7H) (OTCQX: CMRZF) (the 'Company' or 'Commerce') announces that, further to its news release of March 3, 2011, it has filed its National Instrument 43-101 Technical Report entitled 'Technical Report, Mineral Resource Estimation, Eldor Property - Ashram Deposit, Nunavik, Quebec' dated April 15, 2011, on SEDAR at http://www.sedar.com/. The report has also been posted on the Company's website at http://www.commerceresouces.com/.
SGS Canada Inc. - Geostat ('SGS Geostat') was commissioned by Commerce to prepare an independent estimate of the mineral resources of the Ashram Rare Earth Deposit ('Ashram') at the Eldor Property, Quebec. The Technical Report was prepared for the Company by André Laferrière M.Sc. P.Geo. of SGS Geostat. SGS Geostat calculated the mineral resource estimate based on data from twelve holes totalling 3,313 metres drilled at the Ashram in 2010. The mineral resource estimate for the Ashram at a base case cut-off grade of 1.25% Total Rare Earth Oxide ('TREO') totals 117,340,000 tonnes grading 1.74% TREO in the inferred resource category. The initial resource model provides a foundation for the ongoing exploration and development of the Ashram Zone.
NI 43-101 Disclosure Jody Dahrouge, P.Geo., Vice-President Exploration of Commerce Resources Corp., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp. Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare earth element deposits with a potential for economic grades and large tonnages. The Company is developing its Upper Fir Tantalum and Niobium Deposit in British Columbia and is also exploring its Eldor Rare Earth Project in northern Quebec and the Carbo Rare Earth Project in northern British Columbia.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
(signed)
David Hodge President and Director Tel: 604 484 2700 TF: 866.484.2700 Email: info@commerceresources.com Web: http://www.commerceresources.com/
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements This news release may contain forward-looking information and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward-looking information is based on the opinions and estimates of management and its consultants at the date the information is given. It is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Information is based on reasonable assumptions. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
Commerce Resources Corp.
CONTACT:
please visit the corporate website at http://www.commerceresources.com/
or contact Investor Relations at 1.866.484.2700
or info@commerceresources.com