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Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located within their Eldor Property, in northern Quebec, Canada. The company aims to be one of the lowest cost rare earth producers globally, with a specific focus on supplying mixed rare earth carbonate and/or NdPr oxide to the global market. With a large tonnage resource at favorable grade, the Ashram Deposit has shown the production of high-grade mineral concentrates at high recovery rates, aligning with leading global producers. Additionally, the company explores the potential of other commodities like niobium and phosphate minerals on the Property, aiming to reduce costs through shared development.
Commerce Resources Corp. (OTCQX:CMRZF) has completed its 2021 field campaign for the Ashram Rare Earth and Fluorspar Deposit, supporting the Prefeasibility Study (PFS). Key components included a diamond drill program totaling 2,814 metres and data collection for hydrology and tailings management. Core samples are undergoing geochemical analysis, with results expected in 6-8 weeks. The Ashram Deposit holds significant resources: 1.6 Mt at 1.77% REO, 27.7 Mt at 1.90% REO, and 219.8 Mt at 1.88% REO. The Company aims to be a low-cost supplier of rare earth products globally.
Commerce Resources Corp. (OTCQX:CMRZF) is supporting eco-friendly research through its contribution of Ashram Deposit material for the SideroFlot project. This initiative aims to develop biodegradable flotation collectors for rare earth elements (REEs), enhancing sustainable mineral processing. Conducted by Helmholtz-Zentrum Dresden-Rossendorf, the project promotes environmentally friendly mining practices. Company President Chris Grove highlighted the importance of Ashram material in advancing REE extraction technologies while reducing reliance on Chinese sources.
Commerce Resources Corp. (OTCWX:CMRZF) has launched a mineral processing program to finalize the Prefeasibility Study (PFS) design criteria for the Ashram Rare Earth and Fluorspar Deposit. This initiative, executed with Qualified Persons, aims to validate the mineral processing components necessary for the PFS flowsheet. The program will incorporate advanced flotation techniques and include filtration testing to optimize material handling. The Ashram project has significant potential with high-grade mineral concentrates, aiming to position the company as a low-cost rare earth producer.
Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announced an application to the TSX Venture Exchange to amend the terms of 9,674,153 warrants. The company proposes to extend the expiry date from October 11, 2021, to October 11, 2024, and from October 31, 2021, to October 31, 2024. Additionally, the exercise price is set to change from $0.50 to $0.285, while all other terms will remain the same. This amendment is pending Exchange approval.
Commerce Resources Corp. (OTCQX: CMRZF) announced significant progress in its metallurgical program for producing rare earth carbonate (REC) concentrate. Bench-scale flowsheet development yielded a high-grade monazite mineral concentrate with an approximate grade of 40% rare earth oxide (REO) at 82% recovery. Additionally, recoveries of 98% for Nd and Pr and 90% for Dy into the pregnant leach solution (PLS) were achieved. The company aims to be a low-cost leader in supplying mixed REC to global markets.
Commerce Resources Corp. (OTCQX:CMRZF) has completed its 2021 diamond drill program at the Ashram Rare Earth and Fluorspar Deposit in Quebec. The program consisted of 2,814 meters of drilling across 12 holes, exceeding the initial plan while remaining within budget. The drill focused on areas with high neodymium-praseodymium content, crucial for the ongoing Prefeasibility Study. The deposit is significant, with a measured resource of 1.6 million tonnes at 1.77% rare earth oxide. The company plans further hydrology studies and Qualified Person site visits this fall while adhering to COVID-19 protocols.
Commerce Resources Corp. (OTCQX: CMRZF) has initiated its 2021 drilling program at the Ashram Rare Earth and Fluorspar Deposit in Quebec. The drilling, supervised by Dahrouge Geological Consulting, will cover 2,500 meters and aims to enhance resource confidence by increasing indicated/measured resources. The program benefits from shared costs with Saville Resources, which is drilling nearby. The company is also advancing a Prefeasibility Study and developing its processing flowsheet while adhering to COVID-19 protocols.
Commerce Resources Corp. (OTCQX: CMRZF) announced an upcoming summer diamond drill program at the Ashram Rare Earth and Fluorspar Deposit in Quebec, set to begin July 10-12, 2021. The program, in partnership with Saville Resources, aims to optimize costs through shared resources. Approximately 2,500 m of NQ core drilling is planned across 15-20 holes, focusing on extending the deposit and upgrading resource confidence. The company is simultaneously advancing a Prefeasibility Study and adhering to COVID-19 safety protocols.
Commerce Resources Corp. (OTCQX:CMRZF) provided an update on its metallurgical program for the Ashram Rare Earth and Fluorspar Deposit. The program aims to produce approximately 2.5 kg of mixed rare earth carbonate (mixed REC) concentrate, up from the initial 1.1 kg. The concentrate is generated from high-grade monazite, exceeding 40% rare earth oxide (REO). The company also plans to explore partial separations to create marketable NdPr oxide products. These advancements align with Commerce's goal of becoming a low-cost rare earth producer.
Commerce Resources Corp. has successfully completed a non-brokered private placement, issuing 7,836,657 units at $0.33 each, raising gross proceeds of $2,586,097, which was oversubscribed by $586,097. Each unit consists of a common share and a warrant, exercisable at $0.44 for five years. The funds will support the development of the Ashram REE/Fluorspar Deposit and general working capital. Finder's fees of $85,661.40 were paid, and the issued securities are subject to a hold period. The Ashram Deposit is significant in both rare earth and fluorspar production.
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