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Dear Eric,
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (OTCQX: CMRZF) is pleased to announce the completion of a positive National Instrument 43-101 compliant Preliminary Economic Assessment (�PEA�) for the Upper Fir Tantalum-Niobium Deposit at Blue River, British Columbia. The PEA, prepared by independent consultants, AMEC Americas Limited (�AMEC�), indicates that the deposit can be developed economically as an underground mine and recommends future studies to support a pre-feasibility level assessment of the project.
Highlights:
- AMEC�s PEA Technical Report on the Blue River Tantalum-Niobium Project will be filed shortly for public disclosure (www.sedar.com).
- Study results show a positive cash flow for a potential 7500 tonnes per day underground operation at the Upper Fir, with cash costs of $C24.91 per kilogram of tantalum metal (net of niobium metal credits) in a technical grade oxide product.
- AMEC�s economic evaluation was based on the September 29, 2011 mineral resource base of 36.4 million tonnes of Indicated mineral resource containing 195 ppm (gpt) Ta2O5 and 1,700 ppm (gpt) Nb2O5 plus 6.4 million tonnes of Inferred mineral resource containing 199 ppm (gpt) Ta2O5 and 1890 ppm (gpt) Nb2O5.
- The PEA identified opportunities for optimization in the geology and mining areas with the key risks for project development lying in the sensitivity of the project to fluctuations in commodity prices and the United States dollar to Canadian dollar exchange rates.
- With the milestone of the PEA completed, AMEC has commenced work on an updated mineral resource estimate that will include the results of drilling completed to the end of 2010 and assays received as of September 29, 2011. This will be followed by a technical report that will incorporate drilling, assaying, geological mapping and other work completed on the Upper Fir to the end of Commerce�s 2010 field program. A subsequent update to this technical report is also planned that will include results of the 2011 drilling and metallurgical test programs.
Click Here to Read Today's News Release
For more information on Commerce Resources Corp:
Following your review, if you have any questions, feel free to contact investor relations at 604.484.2700 or toll free at 1.866.484.2700.
Sincerely,
Chris Grove
Corporate Communications
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Disclaimer: This email does not constitute investment advice. Commerce Resources Corp. provides investor relations materials for convenience and information only.
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Commerce Resources Corp. | Suite 1450 - 789 West Pender Street | Vancouver | BC | V6C 1H2 | Canada | |
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Commerce Resources Corp.
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EXPLORATION STAGE |
CODE : CCE.V |
ISIN : CA2006971006 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Commerce Resources is a silver and gold development stage company based in Canada. Commerce Resources holds various exploration projects in Canada. Its main exploration properties are ELDOR, BLUE RIVER - FIR, CARBOT, AU-WEN CLAIMS and CABLE CREEK in Canada. Commerce Resources is listed in Canada and in Germany. Its market capitalisation is CA$ 39.7 millions as of today (US$ 29.0 millions, € 27.1 millions). Its stock quote reached its highest recent level on May 11, 2007 at CA$ 1.80, and its lowest recent point on August 16, 2019 at CA$ 0.04. Commerce Resources has 293 860 000 shares outstanding. |