Trading Symbol CIN - CNSX
VANCOUVER, Nov. 27 /CNW/ - Canadian International Minerals Inc (CIN) and Commerce Resources Corp. (CCE) are pleased to present current developments on the Carbo Rare Earth Element (REE) project located 80 km northeast of Prince George, B.C. CIN is earning a 75% interest from CCE in the 2778.67 hectare property located in the emerging Wicheeda REE carbonatite camp.
In late October, Spectrum Mining Corporation, a private company, reported (http://www.cdnintlminerals.com/s/Articles.asp?ReportID=999999999,374026&ReportIDRef=YRK9141D1L1V0) significant rare earth element mineralization on claims contiguous to the Carbo Property. Highlights included a 48.64 metre interval which averaged 3.55% REE, a 72 metre interval that averaged 2.92% REE, and a 144 metre interval that averaged 2.20% REE in three widely separated drill holes. Mineral analysis on 2009 drill core has indicated that the primary REEs are contained in coarse grained monazite and a bastnesite-synchistite parasite mineral.
The Carbo claims straddle and directly adjoin Spectrum's property, with the currently reported drilling being approximately 2 km from a Carbo carbonatite showing which hosts analogous mineralization. A property location map of the Carbo and Spectrum properties may be found on the CIN web site (http://www.cdnintlminerals.com/i/maps/Carbo_43-101_FINAL_April-21-29.pdf).
Exploration work conducted by CCE in 2006 sampled outcrops containing up to 0.46 % total REE plus yttrium (TREO+Y). A reconnaissance program in 2009 by CIN included 17 rock, 43 silt and 57 soil samples taken while geologically mapping and prospecting the Carbo claims. Analyses of soil samples included one exceeding the detection limit of 10,000 ppm (greater than 1%) Cerium (Ce), and values up to 509 ppm Gadolinium (Gd), indicating the presence of HREEs. Rock samples from previously known mineralized carbonatite averaged 0.40% TREO+Y.
A new carbonatite was discovered west of and parallel to the known mineralization. It is within an open ended Cerium soil geochemical anomaly with values up to 217 ppm Ce. Mineralized outcrop at this locality contained 0.36% TREO+Y plus 50.1 ppm Gd, again indicating the presence of HREEs.
CIN and CCE are encouraged by their results on the Carbo claims and in the camp and are planning an expanded exploration program that will include trenching and drilling in 2010.
The Company is also pleased to welcome Professor Roger Mitchell as a member of the advisory board.
Dr. Mitchell, a Fellow of the Royal Society of Canada, Professor Emeritus in the Department of Geology at Lakehead University, is the world's leading authority on the occurrence and genesis of alkaline rocks. His extensive work on the mineralogy, petrology and geochemistry of kimberlites has confirmed the standard genetic model, culminating in his definitive book on this important group of rocks. He has also worked extensively on the character and origin of lamproites, resulting in a new model for their genesis, and publication of the definitive book on these rocks. His work is marked by that rare combination of thoroughness and imagination, and has established him as the leading petrologist in Canada. He is also a world authority on carbonatites.
Further to the news release of November 13, 2009, wherein the Company announced a private placement of 3,000,000 units at $0.12 per unit, the Company advises that each unit will consist of one common share and one whole transferable share purchase warrant, each warrant exercisable into an additional common share for a period of one year at a price of $0.20 per share. All other terms of the placement will remain the same.
The Qualified Person who has reviewed the technical data for this news release is Thomas Hasek P.Eng.
Michael E. Schuss
CEO, CFO, Director
The CNSX has not approved or disapproved the contents of this news
SOURCE Canadian International Minerals Inc.
For further information: For further information: Michael E.Schuss, CEO, Director, (604) 241-2254, firstname.lastname@example.org