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Dear Eric,
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (OTCQX: CMRZF) is pleased to announce the completion of a National Instrument NI 43-101 compliant Mineral Resource update that incorporates drilling results to the end of 2010 for the Upper Fir Tantalum-Niobium Deposit at Blue River, B..C. A technical report prepared by independent consultants, AMEC Americas Limited ("AMEC") supports the findings of the Mineral Resource update and also includes summaries from the Blue River Preliminary Economic Assessment ("PEA") study completed with an effective date of 29 September, 2011 (2011 PEA- see Commerce news release dated 3-November-2011). The results from the 2011 PEA mining studies have not changed in terms of their outcomes as their underlying assumptions remain reasonable..
Highlights:
- Study results show Indicated Mineral Resources totalling 51.8 million tonnes at 192 ppm Ta2O5 and 1,490 ppm Nb2O5 and Inferred Mineral Resources totalling 8.8 million tonnes at 186 ppm Ta2O5 and 1,660 ppm Nb2O5.
- This represents a 42% increase in the tonnage of Indicated Resources and a 37% increase in the tonnage of Inferred tonnes over the figures in the 2011 PEA.
- Contained kilograms of tantalum increased by 40% in Indicated resources and by 23% in Inferred resources, while contained kilograms of niobium increased by 25% in Indicated resources and by 21% in Inferred resources. Over 86% of the tantalum and 84% of the niobium reside in the Indicated resource category.
- The increased tonnage is mostly due to lowering the bulk mining method block unit value cut-off from US$52/t to US$40/t by eliminating backfill costs and, to a lesser extent, additional infill diamond drilling..
- AMEC�s �Blue River Tantalum-Niobium Project, British Columbia, Canada, NI 43-101 Technical Report on Mineral Resource Update�, with an effective date 22 June, 2012 will be filed shortly for public disclosure (www.SEDAR.com) on the date of this news release.
- With the significant milestone of this resource update successfully achieved, Commerce and AMEC will continue their work on an update of this new mineral resource estimate to incorporate 34 additional drill holes (totalling 8,715 m) of infill drilling in 2011, as well as the results of ongoing 2012 work.
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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EXPLORATEUR |
CODE : CCE.V |
ISIN : CA2006971006 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Commerce Resources est une société développant des projet miniers d'argent et d'or basée au Canada. Commerce Resources détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont ELDOR, BLUE RIVER - FIR, CARBOT, AU-WEN CLAIMS et CABLE CREEK au Canada. Commerce Resources est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 36,7 millions CA$ (26,9 millions US$, 25,2 millions €). La valeur de son action a atteint son plus haut niveau récent le 11 mai 2007 à 1,80 CA$, et son plus bas niveau récent le 16 août 2019 à 0,04 CA$. Commerce Resources possède 293 860 000 actions en circulation. |