Commerce Resources Corp. completes summer / fall field campaign at ETR’s Ashram / fluorspar deposit in support of on-going pre-feasibility study

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VANCOUVER, BC / ACCESSWIRE / October 20, 2021 / Commerce Resources Corp. (TSXV: CCE) (FSE: D7H0) (OTCQX: CMRZF) (the “Company” or “Commerce”) is pleased to announce that it has completed its 2021 field campaign, which focused on components of land required to support the Pre-Feasibility Study (PFS) underway on the Ashram rare earth and fluorspar deposit, located in northern Quebec.

In addition to the recently completed 2,814-meter 12-hole diamond drill program (see August 25, 2021 press release), the Company also successfully completed the remaining field data collection planned for the PFS as well as the Remaining Qualified Person (QP) site visits. Collectively, this field data and QP assessments will feed into the final project assessment and office design.

Highlights of the fieldwork include:

  • Download of various data loggers from lakes, boreholes and weather stations on site
  • Hydrological study on the proposed development of the mine site infrastructure
  • Extended bathymetric survey over Center Pond
  • Characterization of the sites of the preselected tailings facilities, upstream of the final selection
  • Qualified Person (QP) Site Visits for the Ashram Project PFS
  • Survey by drone and bathymetry on the site of the proposed marine installation

Company President Chris Grove commented: “The summer / fall 2021 field season for the Ashram REE / Fluorspar deposit has been very busy, with several key elements of the PFS completed as a result of the drilling program. Our goal is to publish a robust and complete PFS, without shortcuts and without unnecessary assumptions. , in order to position the Ashram for long term success. “

From September to October, the Company conducted various field surveys, by third-party service providers, to assess potential sites for the tailings management facility and collect data to confirm the construction design criteria for the construction. Site infrastructure in support of the mining development design for the PFS. This included site visits by senior qualified persons for tailings management, geological resources and mineral processing, which were completed as of September 19.e to 21st, 2021. In addition, high resolution drone surveys (photogrammetry), as well as bathymetric surveys, were carried out at the site of the proposed marine facility. This data will make it possible to write a design scenario for the site and to feed the overall base scenario of the PFS development scenario of the Ashram project.

Core samples from the 2021 drill program have all arrived at Activation Laboratories’ facilities in Ancaster, Ontario for geochemical analysis. The current industry lead time for sample geochemistry is six to eight weeks. In addition, the company continues to advance the development of its treatment regimen at Hazen Research, CO, with a focus on confirming the design criteria (see press release of September 28, 2021), as well as on d ‘other PFS desktop components developed by third-party consultants. (BBA Engineering, CIMA +, etc.).

The Ashram deposit is one of the largest rare earth (and fluorspar) deposits in the world, consisting of a single monazite dominated ore body outcropping at the surface, and has a footprint of approximately 600 m along direction, more than 350 m in diameter and 600 m in depth, remaining open in several directions. The deposit contains a measured resource of 1.6 million tonnes (Mt) at 1.77% rare earth oxide (REO) and 3.8% F, an indicated resource of 27.7 Mt at 1.90% REO and 2.9% F, and an inferred resource of 219.8 Mt at 1.88% REO and 2.2% F, at a cut-off grade of 1.25% REO (effective date 5 Julye, 2012). Note that mineral resources are not mineral reserves because they have not demonstrated their economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves.

Disclosure of Regulation 43-101

Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., holder of a permit from the Ordre des g̩ologues du Qu̩bec and qualified person within the meaning of National Instrument 43-101 РDisclosure standards mining projects, oversaw the preparation of the technical information contained in this press release.

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resources company focused on the development of the Ashram rare earth and fluorspar deposit located in Quebec, Canada. The Company is positioned to be one of the cheapest rare earth producers in the world, with particular emphasis on being a long term supplier of mixed rare earth carbonate and / or NdPr oxide on the market. global market. The Ashram deposit is characterized by a simple mineralogy of rare earths (monazite, bastnaesite, xenotime) and gangue (carbonates), a large tonnage resource at favorable grade, and has demonstrated the production of high grade mineral concentrates ( > 45% REO) high recovery (> 70%) in line with active global producers. In addition to being one of the largest rare earth deposits in the world, Ashram is also one of the largest fluorspar deposits in the world and has the potential to be a long-term supplier to the spar markets. put and acid spar.

For more information, please visit the company’s website at www.commerceresources.com or email This e-mail address is protected from spam. You need JavaScript enabled to view it..

On behalf of the board of directors

CORP.

Chris Grove

Chris Grove
President and director
Phone. : 604.484.2700
E-mail: This e-mail address is protected from spam. You need JavaScript enabled to view it.
The Web: https://www.commerceresources.com

Neither the 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.

Forward-looking statements

This press release contains forward-looking information that 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. The forward-looking statements contained in this press release include our plans to become a long-term, low-cost supplier of rare earth mixed carbonate and / or NdPr oxide. These forward-looking statements are subject to various 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 that the proposed methods do not perform as well as expected, the drilling may not go as planned or start as planned, we may encounter difficulties in drilling and completing environmental work; changes in extraction and processing costs; increased investment costs; the timing and content of future work programs; drilling-based geological interpretations that may change with more detailed information; the potential treatment methods and the assumption of mineral recovery based on limited test work and in relation to what are considered to be analogous deposits which, with other test work, may not be comparable; testing of our process may not prove to be successful and even if it is successful, economic and other results may not be as expected; the availability of labor, equipment and markets for the products produced; and despite the current expected viability of the project, conditions are changing such that the minerals on our property cannot be economically mined, or the permits required to construct and operate the proposed mine may be obtained. 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.


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