August 10, 2006
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (“Commerce”) announces that the summer 2006 exploration program has led to the discovery of an extensive outcropping of carbonatite, proximal to the Upper Fir Carbonatite. The outcrop was discovered using information from the current trenching and drill program; it has been traced intermittently for 90 meters along strike and approximately 30 meters in height. It is within 150 meters down-slope from the current drill holes.
As part of Commerce’s current exploration program, three drill holes have been completed along strike to the south of the 2005 drilling at the Upper Fir Carbonatite. The drill holes have intersected between 44.57 and 78.17 meters of carbonatite, which are substantially greater than those obtained in 2005. The 2005 thickness ranged from 8.77 to 16.79 meters. The Upper Fir Carbonatite has now been intersected in six drill holes along a strike length of more than 325 meters with thicknesses ranging from 8.77 to 78.17 meters.
Prior soil geochemical programs have shown an extensive soil geochemical anomaly, presumably associated with the Upper Fir Carbonatite. This anomaly is currently being trenched, in five separate locations. Initial results have confirmed the presence of carbonatite in trenches and in outcrop.
The 2006 exploration is continuing and will include additional reconnaissance mapping, stream sediment sampling, soil geochemical surveys, trenching, and diamond drilling. The objectives of the 2006 exploration are as follows:
- to collect sufficient information from the Upper Fir Carbonatite to complete a resource estimate, and
- to explore for new occurrences of carbonatite within the region.
Results to date from the 2006 exploration are as follows:
- the identification of a most suitable site at the Upper Fir where the extraction of a commercial bulk sample of 10,000-tonne or more can be collected. The permitting process for the bulk sample is currently underway,
- the sampling of the Switch Creek Carbonatite. Drilling will commence at this location later in the program, and
- the sampling and mapping of the Gum Creek Carbonatite, which has previous historic assays of 3,211 g/t Nb2O5, 75 g/t Ta2O5 and with highly enriched light rare-earth elements (Lanthanum(La) = 1,905 ppm; Cerium(Ce) = 2,666 ppm). A recent examination of this carbonatite has show it to have a potential strike length of several hundred meters.
Jody Dahrouge, professional geologist and director of Commerce, is responsible for the design and conduct of the exploration programs, and the verification and quality assurance of analytical results. Mr. Dahrouge is a qualified person as defined under National Instrument 43-101.
About Commerce Resources Corp. (http://www.commerceresources.com)
Commerce Resources Corp. is focused on the development and exploration of its Fir and Verity tantalum and niobium projects covering 49 square kilometers in British Columbia, Canada. The Company is one of the most active tantalum explorers in North America, conducting detailed exploration of its Fir and Verity deposits. Exploration to date at the Fir deposit has outlined an indicated resource of 5.65Mt with 203.1g/t Ta2O5 and 1,047g/t Nb2O5 (Verzosa, 2003). The Fir is also host to an inferred resource of 6.7Mt with 203.1g/t Ta2O5 and 1,047g/t Nb2O5 (Verzosa, 2003). The Verity deposit, 10 km north of the Fir property, is host to an estimated inferred resource of 3.06Mt with 196g/t Ta2O5, 646g/t Nb2O5 and 3.20% P2O5 (McCrea, 2001). Detailed information on both resource estimates may be viewed in the company’s public disclosure on SEDAR.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.