September 23, 2014
Commerce Resources Corp. (the “Company” or “Commerce”) announces that it has initiated a program of downstream hydrometallurgical processing for material from the Ashram Rare Earth Deposit. This hydrometallurgical testing will demonstrate the entire conceptualized flowsheet with a target of producing a mixed rare earth carbonate (REC) product. Once the hydrometallurgical flowsheet is fully bench tested, and mineral processing further optimized, a mini pilot plant will commence to generate feed for the production of a cerium and lanthanum depleted mixed REC concentrate for evaluation by a potential joint venture and/or off-take partner.
The testwork also allow for a deeper evaluation of other potential end-product options with ready markets.
After a detailed review of the flowsheet, as well as a third party in-depth review of marketable rare earth products and potential end-users, the work is now focusing on the following objectives:
1. Optimize the mineral processing flowsheet by focussing on increased TREO recovery as well as HCl regeneration in the leach to further reduce acid consumption.
2. Complete bench testing of the conceptual hydrometallurgical flowsheet in preparation for various end-product generation and evaluation.
3. Complete a mineral processing mini pilot plant to confirm the process on a larger scale, and to generate feed for full demonstration of the hydrometallurgical flowsheet through to production of ~1-2 kg of Ce-La depleted mixed REC.
The metallurgical programs will be conducted at UVR-FIA GmbH in Germany, and Hazen Research Inc. in Golden, CO. Both the hydrometallurgical and mineral processing programs will be completed in a parallel and cooperative manner between Hazen and UVR for optimal advancement of the schedule.
Commerce President Chris Grove states: “Through our understanding of industry interests and requirements, we are excited to be initiating these advanced metallurgical programs with Hazen and UVR.”
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
Eric Larochelle, Eng, and Alain Dorval, Eng., Manager- Process, Mining and Mineral Processing., of Roche Ltd, Consulting Group, Qualified Persons as defined by National Instrument 43-101, reviewed the technical information presented in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on deposits of rare metals and rare earth elements. The Company is focused on the development of its Upper Fir Tantalum and Niobium Deposit in British Columbia and the Ashram Rare Earth Element Deposit in Quebec.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
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.
This news release contains forward-looking information which 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 statements in this press release include but are not limited to hydrometallurgical testing will demonstrate the entire conceptualized flow-sheet; the production of a mixed rare earth carbonate product; references to a mini pilot plant; the generation of feed for the production of cerium and lanthanum depleted mixed rare earth carbonate; potential joint venture partner evaluation and any off-take agreements; increasing TREO recovery; reduction in acid consumption; completion of bench testing and confirming the process on a larger scale.
These forward-looking statements are based on the opinions and estimates of management and its consultants at the date the information is disseminated. They are 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. Risks that could change or prevent these statements from coming to fruition include the ability to finance ongoing exploration, development and metallurgical programs, changing costs for mining and processing; changing forecasts of mine production rates; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on test work; the availability of labour, equipment and markets for the products produced; market pricing for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. 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.