Commerce Resources Corp. Announces Significant Niobium-Tantalum-Uranium-Gold Mineralization at Eldor Carbonatite



    VANCOUVER, Dec. 19 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE:
D7H) ("the Company") is pleased to announce the results from its 2007
exploration program at its Eldor Carbonatite Project, located in the Labrador
Trough area of Quebec, Canada. The results substantiate anomalous
concentrations of niobium (Nb(2)O(5)) and tantalum (Ta(2)O(5)) identified
historically as well as anomalous concentrations of gold, uranium and apatite
over an area exceeding 6 km long by 1.5 km wide.
    The 2007 exploration program, designed to confirm the historic
mineralization, consisted of an 862 line-km magnetic/radiometric airborne
geophysical survey, and rock and soil sampling. In total, 895 soil samples and
60 rock (grab) samples were collected. The soil sampling (50 meter sample
intervals) was considered reconnaissance in nature and consisted of lines
spaced approximately 1 km apart across the property.

    Highlights are as follow:

    
    -   the airborne geophysical survey outlined a magnetic anomaly about
        9 km long by 3 km wide which is partly coincident with a radiometric
        anomaly that exceeds 13 km length by 5 km width.

    -   the soil geochemical survey outlined a niobium anomaly that exceeds
        300 ppm Nb(2)O(5) (maximum of 1.18% Nb(2)O(5)), over an area
        measuring approximately 6 km long by 1.5 km wide, which is coincident
        with one of the most intense parts of the radiometric geophysical
        anomaly. Of the 60 rock samples collected, 18 exceeded
        0.1% Nb(2)O(5). One rock sample exceeded the maximum detection limit
        for niobium oxide, which is 7.15%. The samples averaged
        0.49% Nb(2)O5.

    -   twenty-three (23) of the soil samples exceeded 250 g/t Ta(2)O(5),
        with a peak value of 988 g/t Ta(2)O(5). Of the 60 rock samples
        collected, 26 exceeded 100 g/t Ta(2)O(5) to a maximum of
        1,550 g/t Ta(2)O(5).

    -   four (4) of the soil samples exceeded 100 ppb gold (Au), with a peak
        value of 456 ppb Au. Of the 60 rock samples collected from the area,
        19 exceeded 100 ppb Au to a maximum of 803 ppb Au (0.803 g/t Au).
        The 60 rock samples averaged 104 ppb Au. The five (5) greatest
        samples contained 803, 710, 539, 538, and 533 ppb Au, respectively.

    -   twenty-five (25) rock samples collected from the area exceeded
        100 ppm uranium (U(3)O(8)) to a maximum of 1,668 ppm U
        (0.16% U(3)O(8)). The 60 rock samples averaged 231 ppm U(3)O(8)
        (0.51 lbs/tonne).

    -   twenty-eight (28) rock samples collected from the area exceeded 5%
        P(2)O(5) (phosphate occurring as apatite) to a maximum of 28.24%
        P(2)O(5). The 60 rock samples averaged 5.42 % P(2)O(5).
    

    In addition, the soil geochemical survey outlined a nickel anomaly that
exceeds 100 ppm nickel to a maximum of 595 ppm nickel. The anomaly measures
7 km long by up to 2 km wide, and is partly coincident, and to the east of the
magnetic geophysical anomaly. This represents a separate exploration target
from the carbonatite.
    The Company is encouraged by the results of the 2007 exploration. Based
on the local geology and the sampling results obtained in the field, the
Company believes that the Eldor Carbonatite Project has potential for the
discovery of a variety of high-value commodities within a very large
carbonatite complex.
    The diverse array of mineralization evidenced in the Eldor Carbonatite,
are not uncommon to these types of systems. Carbonatites are very rare and
unique rock types, with only approximately 500 complexes known worldwide.
Often containing a variety of exotic minerals, carbonatites have been known to
produce economic concentrations of rare earth elements, niobium, copper, iron,
apatite, vermiculite and fluorite; with significant byproducts which may
include barite, zircon, tantalum, gold, silver, uranium, nickel and platinum
group elements.
    The Eldor Carbonatite appears larger than the present and past producing
Canadian carbonatite complexes Oka, and St. Honore, both located in Quebec. It
is also comparable in size to the Araxa Carbonatite Complex in Brazil, which
is about 4 1/2 km in diameter.
    Historic exploration of the Eldor Carbonatite outlined an elliptical
shape body with dimensions of approximately 7.75 km by 2.5 km, and with
localized, high concentrations of niobium and tantalum. Several of the
historic grab and channel samples from the carbonatite ranged from (greater
than)1% to 11.4% Nb(2)O(5), and from (greater than)0.01% to 0.21% Ta(2)O(5).
    The primary mineral from which niobium is obtained is known as
pyrochlore, found occurring in carbonatites globally. The world's largest
deposit located at Araxa, Brazil, is operated by CBMM, and averages between
2.5% and 3.0% Nb(2)0(5). Two other currently operating pyrochlore mines are
Anglo American's Brasil Mineracao (Brazil), grading 1.34% niobium oxide and
Iamgold's Niobec (Quebec) at their St. Honore deposit, grading 0.67% niobium
oxide and mined underground.
    Michael Guo, P.Geol., of Dahrouge Geological Consulting Ltd., the
qualified person as defined by National Instrument 43-101, is responsible for
the 2007 exploration of the Eldor Project. Jody Dahrouge, P.Geo., director and
a qualified person as defined by National Instrument 43-101, supervised the
preparation of the technical information in this release.
    Except as noted above, all samples were analyzed at Acme Analytical
Laboratories in Vancouver, B.C., using ICP-MS (Group 4A and 4B methods).

    About Commerce Resources Corp.
    ------------------------------
    Commerce Resources Corp.'s stated goal is to become the world's next
source of tantalum and niobium. Commerce is an active tantalum and niobium
explorer in North America, with a focus on developing the Upper Fir Deposit in
British Columbia and the Eldor Deposit in Quebec.
    Detailed information on both deposits may be viewed in the Company's
public disclosure on SEDAR.

    On Behalf of the Board of Directors
    COMMERCE RE

SOURCES CORP. "David Hodge" ------------- David Hodge President and Director Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include statements regarding the Eldor Property having the potential for the discovery of a variety of high-value commodities within a very large carbonatite complex and that the Eldor Carbonatite appears larger than the present and past producing Canadian carbonatite complexes Oka, and St. Honore, both located in Quebec. It is also comparable in size to the Araxa Carbonatite Complex in Brazil. Forward-looking statements also include our plans to become the world's next source of tantalum and niobium. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For further information:

For further information: on Commerce Resources Corp. call (604)
484-2700

Organization Profile

Commerce Resources Corp.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890