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The Eldor Property is located in northern Quebec approximately 130 km south of the community of Kuujjuaq and 100 km north of Adriana Resources' Lac Otelnuk Iron Deposit. The property is 100%-owned by Commerce and encompasses 404 claims totalling approximately 19,006 hectares.
At the Eldor Property, Commerce's 2010 exploration program led to the discovery of a significant new rare earth element deposit known as the Ashram Deposit. The Ashram Deposit is a large tonnage rare earth discovery and is ranked as one of the largest rare earth deposits outside of China.
In early 2011, Commerce reported an initial NI 43-101 resource estimate for Ashram of 117.34 million tonnes averaging 1.74% TREO in the Inferred Category using a base case cutoff of 1.25% TREO (SGS Canada Inc. -- Geostat, April 2011). The resource estimate was based on twelve holes totalling 3,313 metres drilled in 2010.
Following the resource calculation, Commerce completed a follow-up winter drill program consisting of seven holes totalling 3,367 metres. The program significantly expanded the footprint and depth extent of the Ashram Zone beyond that of the current Inferred Resource. Mineralization at Ashram has now been confirmed over an approximate area of 600 metres east-west, by 650 metres north-south, to depths of greater than 600 metres. The deposit remains open to the north, east, south, at depth, and is not fully constrained to the west. Altogether since its discovery in 2010, a total of 6,680 metres of drilling has been completed at Ashram.
Importantly, the drilling to date has identified the potential for near surface enrichment in the valuable heavy and middle rare earth elements within the Ashram Deposit. Hole EC10-047, for instance, encountered a 61 metre interval starting at a depth of 6 metres that averaged 1.41% TREO of which 19.08% was represented by the middle and heavy rare earths. The near surface enrichment was encountered again in holes EC10-044 and EC10-045 100 metres to the east of EC10-047. The enrichment is rare for a carbonatite-hosted orebody and its definition is an important priority for future and ongoing drilling.
View the Complete Analytical Results for the Results Released to Date
Commerce recently commenced a summer drilling program at the Eldor Property consisting of 7,500 metres of drilling; the largest program to date. The objective of the program is threefold: (i) to upgrade a portion of the current resource at the Ashram Zone from the "inferred" to the "indicated" category; (ii) to continue to expand the size of the Ashram Zone and to test for areas of higher grades and middle and heavy rare earth element enrichment; and (iii) to test additional rare earth targets within the Eldor Carbonatite Complex.
Commerce is also working with Hazen Research Inc. of Golden, Colorado to complete preliminary metallurgical studies. Additionally, the Company has retained Roger Mitchell of Lakehead University, Ontario to complete advanced mineralogical studies and Environnement Illimite Inc. of Montreal, Quebec to complete a baseline environmental study. The data from these studies and the summer drilling program will be used to undertake a resource update and Preliminary Economic Assessment for Ashram which will be completed by SGS Canada Inc. -- Geostat.
Drill results are expected continuously throughout the fall.
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Jody Dahrouge, P.Geol., a Company Director, is the qualified person as defined by National Instrument 43-101 who has verified the written disclosure of all scientific and technical information on this webpage.
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