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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 promising drill results from Saville Resources' 2021 diamond drill program at the Niobium Claim Group Property in Quebec. The first three drill holes at the Mallard Prospect revealed significant niobium mineralization, with the best intercept being 1.00% Nb2O5 over 17.1 m within a larger interval of 0.82% Nb2O5 over 42.3 m. Assays from the ongoing program at the Miranna Prospect are pending. The exploration adheres to COVID-19 protocols, with no reported cases during the 2021 program.
Commerce Resources Corp. (OTCQX: CMRZF) has signed a three-month agreement with HE Capital Markets to provide investor relations services for a fee of US$15,000. HE Capital, based in London, will assist the company, which is focused on developing the Ashram Rare Earth and Fluorspar Deposit in Quebec, Canada. The company aims to become one of the lowest-cost rare earth producers globally, targeting mixed rare earth carbonate and NdPr oxide as long-term supply offerings.
Commerce Resources Corp. (OTCQX:CMRZF) has provided an update on the Prefeasibility Study for the Ashram Rare Earth and Fluorspar Deposit. A gap analysis was conducted to identify data needs before the study's completion. Key findings include potential tailings management locations and ongoing filtration tests to establish optimal designs. The power generation study will explore co-generation options, focusing on sustainability. The project is on track to become one of the lowest-cost rare earth producers globally, emphasizing its capacity to supply mixed rare earth products.
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.
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