December 19, 2007
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (“the Company”) is pleased to announce the results from its 2007 exploration program at its Eldor Carbonatite Project, located in the Labrador Trough area of Quebec, Canada. The results substantiate anomalous concentrations of niobium (Nb2O5) and tantalum (Ta2O5) identified historically as well as anomalous concentrations of gold, uranium and apatite over an area exceeding 6 km long by 1.5 km wide.
The 2007 exploration program, designed to confirm the historic mineralization, consisted of an 862 line-km magnetic / radiometric airborne geophysical survey, and rock and soil sampling. In total, 895 soil samples and 60 rock (grab) samples were collected. The soil sampling (50 meter sample intervals) was considered reconnaissance in nature and consisted of lines spaced approximately 1 km apart across the property.
Highlights are as follow:
In addition, the soil geochemical survey outlined a nickel anomaly that exceeds 100 ppm nickel to a maximum of 595 ppm nickel. The anomaly measures 7 km long by up to 2 km wide, and is partly coincident, and to the east of the magnetic geophysical anomaly. This represents a separate exploration target from the carbonatite.
The Company is encouraged by the results of the 2007 exploration. Based on the local geology and the sampling results obtained in the field, the Company believes that the Eldor Carbonatite Project has potential for the discovery of a variety of high-value commodities within a very large carbonatite complex.
The diverse array of mineralization evidenced in the Eldor Carbonatite, are not uncommon to these types of systems. Carbonatites are very rare and unique rock types, with only approximately 500 complexes known worldwide. Often containing a variety of exotic minerals, carbonatites have been known to produce economic concentrations of rare earth elements, niobium, copper, iron, apatite, vermiculite and fluorite; with significant byproducts which may include barite, zircon, tantalum, gold, silver, uranium, nickel and platinum group elements.
The Eldor Carbonatite appears larger than the present and past producing Canadian carbonatite complexes Oka, and St. Honore, both located in Quebec. It is also comparable in size to the Araxa Carbonatite Complex in Brazil, which is about 4½ km in diameter.
Historic exploration of the Eldor Carbonatite outlined an elliptical shape body with dimensions of approximately 7.75 km by 2.5 km, and with localized, high concentrations of niobium and tantalum. Several of the historic grab and channel samples from the carbonatite ranged from >1% to 11.4% Nb2O5, and from >0.01% to 0.21% Ta2O5.
The primary mineral from which niobium is obtained is known as pyrochlore, found occurring in carbonatites globally. The world’s largest deposit located at Araxa, Brazil, is operated by CBMM, and averages between 2.5% and 3.0% Nb205. Two other currently operating pyrochlore mines are Anglo American’s Brasil Mineracao (Brazil), grading 1.34% niobium oxide and Iamgold’s Niobec (Quebec) at their St. Honore deposit, grading 0.67% niobium oxide and mined underground.
Michael Guo, P.Geol., of Dahrouge Geological Consulting Ltd., the qualified person as defined by National Instrument 43-101, is responsible for the 2007 exploration of the Eldor Project. Jody Dahrouge, P.Geo., director and a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release.
Except as noted above, all samples were analyzed at Acme Analytical Laboratories in Vancouver, B.C., using ICP-MS (Group 4A and 4B methods).
About Commerce Resources Corp.
Commerce Resources Corp.’s stated goal is to become the world’s next source of tantalum and niobium. Commerce is an active tantalum and niobium explorer in North America, with a focus on developing the Upper Fir Deposit in British Columbia and the Eldor Deposit in Quebec.
Detailed information on both deposits may be viewed in the Company’s public disclosure on SEDAR.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
President and Director
Tel: 604 484 2700
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include statements regarding the Eldor Property having the potential for the discovery of a variety of high-value commodities within a very large carbonatite complex and that the Eldor Carbonatite appears larger than the present and past producing Canadian carbonatite complexes Oka, and St. Honore, both located in Quebec. It is also comparable in size to the Araxa Carbonatite Complex in Brazil. Forward-looking statements also include our plans to become the world’s next source of tantalum and niobium. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company’s operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.