Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the “Company” or “Commerce”) is pleased to provide an update on the site infrastructure geotechnical work completed in support of the ongoing Pre-feasibility Study (PFS) for the Company’s 100% owned Ashram Rare Earth Project, located in northern Quebec.
A key aspect of the site infrastructure assessment for the Ashram Project has now been completed, with the final PFS level test data received for work completed on the geotechnical samples collected in 2015 (see news releases dated July 9, 2015). This work included identification of soil type and its suitability as foundation material, as well as other related attributes critical to site assessment and development.
The results are highly encouraging, from a technical standpoint, and indicate that the infrastructure locations proposed for the Project are favourable and practical. This work bolsters the already favourable data collected from the condemnation drilling completed to date, as well the ongoing environmental programs and social engagement.
Company President Chris Grove states, “We are fortunate that the site layout initially proposed for the Ashram Project development has been significantly de-risked with all components located favourably and in close proximity. We are not just advancing the Project with the goal of building a mine, we are setting the foundation on which to develop a profitable, low-cost, and long-life asset where all parties involved benefit.”
The dataset consisted of seventy-seven (77) shelby tube and split spoon samples collected from numerous drill holes at the proposed dyke location on Centre Pond, the tailings management facility, and the process plant site, as well as the Ashram Deposit. In addition to assessment of overburden thickness, sample testwork included granulometric, shear strength, friction angle, and hydraulic conductivity analysis. The work was completed at the Laboratoires d’Expertises de Québec ltée for analysis (the “LEQ”) and Groupe Qualitas Inc., a division of SNC-Lavalin.
Formal reporting of the data, when completed, will feed into a detailed overarching PFS level geotechnical review for the Project.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., Dahrouge Geological Consulting Ltd., and David Sims, P. Géo, Consulting Hydrogeologist, Qualified Persons as defined by National Instrument 43-101, supervised the preparation of the technical information 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 Ashram Rare Earth Element Deposit in Quebec and the Upper Fir Tantalum and Niobium Deposit in British Columbia.
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 the suitability of the soil type for hosting infrastructure, that the results have significantly de-risked the originally proposed site layout, and that the formal data will be fed into a Preliminary Feasibility Study. These forward-looking statements 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 changing costs for mining and processing; increased capital costs; 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 limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets 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.