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Overview of Property
The Carbo Claims consist of five mineral claims, located approximately 80 kilometers northeast of Prince George, British Columbia. During 2006-2007, Commerce Resources conducted rock and soil sampling, and geophysical surveys on the property. The results have produced highly anomalous concentrations of niobium and rare earth elements in the soil and rock samples. Further exploration is required to ascertain the nature of this mineralization.
In 2009, Commerce optioned a 75% interest in the Carbo Claims to Canadian International Minerals ("CIN"). In consideration for the interest CIN will pay a total of $30,000 cash and 1,500,000 common shares. The company is also required to incur a total of $198,000 in exploration expenditures. Commerce retains a 2% Net Smelter Royalty on the property.
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