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Overview of Commerce Resources Corp.
Commerce Resources Corp. (OTCQX: CMRZF) is a junior mineral resource company dedicated to the exploration and development of critical mineral deposits. Headquartered in Vancouver, British Columbia, the company focuses on advancing its flagship Ashram Rare Earth and Fluorspar Deposit, located within the Eldor Property in northern Quebec, Canada. This deposit is one of the largest undeveloped rare earth element (REE) resources globally and includes a significant fluorspar component, positioning Commerce as a key player in the critical minerals supply chain.
Core Business Areas
The company's primary business revolves around the exploration, development, and potential production of rare earth elements and fluorspar. The Ashram Deposit is characterized by a simple mineralogy dominated by monazite, bastnaesite, and xenotime, which allows for efficient processing. The deposit has demonstrated the production of high-grade REE mineral concentrates (30-45% TREO) at high recovery rates (60-75%), competitive with established global producers. Additionally, the deposit's fluorspar component positions it as a potential long-term supplier to the met-spar and acid-spar markets.
Market Significance
Rare earth elements are indispensable in modern technologies, including electronics, renewable energy systems, aerospace, automotive, and defense applications. Fluorspar is a critical input in industries such as aluminum production, steelmaking, and lithium-ion batteries. With global demand for these materials surging, Commerce Resources is strategically positioned to address supply chain vulnerabilities, particularly in North America and Europe. The company's focus on producing mixed rare earth carbonate and NdPr oxide aligns with the growing demand for magnets used in electric vehicles and wind turbines.
Recent Developments and Exploration Highlights
- Niobium Discoveries: The company has made significant niobium discoveries at its Eldor Property, including high-grade intercepts at the Mallard, Spoke, Knox, and Miranna prospects. These discoveries enhance the property's strategic value, adding to its portfolio of critical minerals.
- Infrastructure Advancements: Commerce Resources has received conditional approval for funding from Natural Resources Canada's Critical Minerals Infrastructure Fund to develop an access road to the Ashram Deposit, facilitating logistics and supporting regional economic growth.
- Processing Innovations: Locked-cycle testing of the Ashram Deposit's simplified flotation-only flowsheet has demonstrated the production of high-grade REE mineral concentrates, significantly enhancing project economics and reducing technical risks.
Competitive Advantages
Commerce Resources benefits from several competitive advantages, including:
- Strategic Location: Situated in Quebec, Canada, the Ashram Deposit is in a geopolitically stable region with access to established infrastructure and skilled labor.
- High-Grade Resource: The Ashram Deposit boasts a large-tonnage resource with favorable grades, making it one of the most attractive rare earth and fluorspar projects globally.
- Diversified Portfolio: In addition to rare earth elements and fluorspar, the company is exploring niobium and phosphate, further enhancing its market appeal.
- Environmental and Social Responsibility: Commerce Resources is committed to sustainable development, working closely with Indigenous communities and adhering to stringent environmental standards.
Future Outlook
Commerce Resources is positioning itself as a low-cost producer of rare earth elements and fluorspar, with a focus on long-term supply agreements for mixed rare earth carbonate and NdPr oxide. The company is advancing its Preliminary Economic Assessment for the Ashram Deposit, scheduled for completion in Q2 2025, and continues to explore the potential of its niobium and phosphate prospects. With strong government and industry support, Commerce Resources is well-positioned to capitalize on the growing demand for critical minerals, contributing to the global transition toward a sustainable, low-carbon economy.
Commerce Resources Corp. has announced the results of its final two drill holes from the 2021 program at the Ashram Rare Earth and Fluorspar Deposit. Notable findings include 1.82% rare earth oxide over 225.4 m and 1.71% over 147.8 m. The aim of the drill program was to upgrade mineral resource confidence to support a Prefeasibility Study. Company President Chris Grove highlighted the positive results, indicating the potential for a significant mineral deposit. The Ashram Deposit ranks among the largest globally, with extensive resources available for future exploration.
Commerce Resources Corp. (OTCQX:CMRZF) reported promising assay results from three drill holes at the Ashram Rare Earth and Fluorspar Deposit, part of the 2021 exploration program. Highlights include:
- 1.79% REO over 223.2 m
- 1.71% REO over 221.5 m
- 1.97% REO over 23.3 m
The results are aimed at upgrading resource confidence to support a prefeasibility study, with expectations of converting significant inferred resources to measured categories. All drill holes intersected consistent mineralization and strong NdPr distributions.
Commerce Resources Corp. reports significant assay results from three drill holes at its Ashram Rare Earth and Fluorspar Deposit. The 2021 drill program, supporting a Prefeasibility Study, identified 1.78% REO over 274.3 m and a strong NdPr oxide distribution of 22.2% in one hole. The company anticipates converting a large portion of inferred resources to indicated and measured resources. The deposit is among the largest globally, with substantial resources of rare earths and fluorspar, positioning Commerce as a potential low-cost producer in the market.
Commerce Resources Corp. has announced a collaboration with Corem to support the development of the Ashram Rare Earth and Fluorspar Deposit in Quebec. Funded by the province's Ministère de l'Énergie et des Ressources naturelles with $1.4 million over 3 years, this initiative aims to advance rare earth element projects and optimize extraction processes. The company has shipped approximately 1 tonne of bulk sample material for testing. The Ashram Deposit is notable for its large resource and high recovery rates, positioning Commerce as a potential low-cost global rare earth producer.
Commerce Resources Corp. (OTCQX: CMRZF) announced promising assay results from its Ashram Rare Earth and Fluorspar Deposit in Quebec, revealing significant rare earth oxide (REO) concentrations. The drill program, conducted in mid-2021, included twelve drill holes totaling 2,814 meters. Highlights include 2.19% REO over 302 meters in hole EC21-187 and strong NdPr oxide distributions ranging from 19%-24%. The company aims to convert inferred resources to indicated and measured classifications, supporting future prefeasibility studies.
Commerce Resources Corp. has completed a non-brokered private placement, issuing 8,641,429 common shares at $0.28 each, generating total gross proceeds of $2,419,600. The funds will be directed towards the advancement of the Ashram REE Deposit in Quebec. In relation to the offering, the company paid a finder's fee of $126,500. The securities are subject to a statutory hold period lasting four months and one day from the closing date.
Commerce Resources Corp. (OTCQX:CMRZF) announced a non-brokered private placement of up to 10,700,000 common shares at $0.28 each, aiming to raise up to $3,000,000. The funds will support the development of the company's Ashram REE Deposit in Quebec. Insiders may participate, and finders' fees may apply. The offering needs TSX Venture Exchange approval and will have a statutory hold period. The Ashram Deposit is one of the largest rare earth and fluorspar deposits globally, positioning Commerce as a potential low-cost producer in the sector.
Commerce Resources Corp. (CMRZF) announced positive assay results from Saville Resources' inaugural drill program at the Miranna Prospect. Four drill holes indicated potential for significant niobium (Nb2O5) mineralization, with highlights including 20.4 m of 0.72% Nb2O5 and 5.7% P2O5 from drill hole EC21-180. The presence of high-grade mineralization within 110 m of the surface suggests open-pit mining may be feasible. An aggregate of 2,500,000 stock options was recently granted as part of the company’s strategic planning.
Zimtu Capital Corp. will hold a Zoom with Zimtu presentation on November 23, 2021, featuring equity holdings Commerce Resources Corp. (CMRZF) and Saville Resources Inc.. Guest speakers include Chris Grove and Mike Hodge, who will discuss exploration updates and answer questions. Commerce Resources focuses on developing the Ashram Rare Earth and Fluorspar Deposit in Quebec, aiming to be a low-cost rare earth producer. Saville Resources is engaged in niobium exploration with prospective assets in Quebec.
Commerce Resources Corp. has entered into a contract with Zimtu Capital Corp. to utilize the ZimtuADVANTAGE program, aimed at enhancing the company's public operations. This program offers services that include building financial and business networks, social media presence, and media guidance, tailored to meet specific company needs. Commerce will pay Zimtu $12,500 monthly for one year. Commerce is focused on developing the Ashram Rare Earth and Fluorspar Deposit in Quebec, positioning itself as a low-cost global rare earth producer.
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