Commerce Resources Corp. and Saville Resources Inc. Completes Three Drill Holes at the Niobium Claim Group Property, Quebec
Commerce Resources Corp. and Saville Resources Inc. Completes Three
Drill Holes at the Niobium Claim Group Property, Quebec
September 1, 2022 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H0, OTCQX: CMRZF)
(the “Company” or “Commerce”) is pleased to provide an update on Saville Resources Inc. ’s
(TSXv: SRE, FSE: S0J) (“Saville Resources”) diamond drill program currently underway at the
Niobium Claim Group Property (the “Property”), a subset of the Company’s Eldor claims, which
are located approximately 130 km south of Kuujjuaq, Quebec. The Property covers several
prospective niobium -tantalum prospects, with Saville Resources compl eting an Earn-in
Agreement on these claims (see news release dated January 11th, 2018).
Saville Resources has recently completed its third and final drill hole of its 2022 program, totalling
approximately 603 m (core not fully processed). All three (3) dri ll holes were completed at the
Mallard Prospect as follow-up to the high-grade niobium mineralization returned from drilling in
2021 (0.82% Nb2O5 over 42.3 m, including 1.00% Nb2O5 over 17.1 m, in drill hole EC21-175)
and in 2019 (0.80% Nb2O5 over 31.5 m, including 1.36% Nb2O5 over 4.5 m, in drill hole EC19-
174A) – see news releases dated November 1st, 2021, and June 11th, 2019, respectively. The 2022
drill holes were completed as step -backs to EC21 175 and EC19 -174A to test the mineralized
horizons at depth.
Mallard is the most advanced prospect on the Property and is characterized by a series of sub -
parallel, elongate, moderate to steeply dipping, northwest trending mineralized horizons that
extend from surface and remain open in all directions. Pyrochlore and columbite are the dominant
niobium minerals present at Mallard, with mineralogy completed to date indicating grain sizes
ranging from 0.03 mm to 3 mm and commonly between 0.05 mm and 0.4 mm. Secondary
commodities of interest at Mallard include tantalum, phosphate, and fluorspar.
Saville Resources is carrying -out its drill program concurrently with the drill program of the
Company on the Ashram Deposit located proximal (see news releases dated July 20th and August
12th, 2022). Core processing is currently underway on site with samples from the Niobium Clam
Group Property expected to be shipped shortly to Activation Laboratories in Ancaster, ON, for
geochemical analysis.
The program is being managed by Dahrouge Geological Consulting Ltd. with Canadian offices in
Edmonton, AB, and Montreal, QC, and drilling carried out by Forage Fusion Drilling of
Hawkesbury, ON.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with t he
Ordre des Géologues du Québec and ‘Qualified Person’ as defined in National Instrument 43-101
– Standards of Disclosure for Mineral Projects , supervised the preparation of the technical
information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is a junior mineral resource company focused on the development of
the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is
positioning to be one of the lowest cost rare earth producers globally, with a specific focus on
being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market.
The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and
gangue (carbonates) mineralogy, a large tonnag e resource at favourable grade, and has
demonstrated the production of high -grade (>45% REO) mineral concentrates at high recovery
(>70%) in line with active global producers. In addition to being one of the largest rare earth
deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential
to be a long-term supplier to the met-spar and acid-spar markets.
For more information, please visit the corporate website at https://commerceresources.com/ or
email [email protected].
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
“Chris Grove”
Chris Grove
President and Director
Tel: 604.484.2700
Email: [email protected]
Web: https://www.commerceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward -looking statements, which includes any information about activities, events or
developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking
statements in this news release include that we expect to complete a prefeasibility study for the Ashram Project; that
mixed REC is readily saleable; that partial separation will allow for a marketable neodymium and praseodymium
oxide to be produced; that we may move downstream early i n the mine-life through partial separation; that Ashram
has the potential to become one of the largest fluorspar deposit and a long-term supplier to the met-spar and acid-spar
markets; and that the Company is positioning to be one of the lowest cost rare earth element producers globally. 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 events, activities or developments from coming to fruition include: that we may not be able to fully
finance any additional exploration on the Ashram Project; that even if we are able raise capital, costs for exploration
activities may increase such that we may not have sufficient funds to pay for such exploration or processing activities;
the timing and content of any future work programs; geological interpretations based on drilling that may change with
more detailed information; potential process methods and mineral recoveries assumptions based on limited test work
and by comparison to what are considered analogous deposits that, with further test work, may not be comparable;
testing of our process may not prov e successful or samples derived from the Ashram Project may not yield positive
results, and even if such tests are successful or initial sample results are positive, the economic and other outcomes
may not be as expected; the availability of labour and equ ipment to undertake future exploration work and testing
activities; geopolitical risks which may result in market and economic instability; and despite the current expected
viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on the Ashram
Project, the project may not be commercially viable; The forward -looking statements contained in this news release
are made as of the date hereof and the Company assumes no responsibility to update or revise such infor mation to
reflect new events or circumstances, except as required by law.