A total of 15 to 20 NQ-size drill holes, for approximately 2,500 m, are planned as part of a resource definition drill program focused along the northern, southern, and central portions of the of the Ashram Deposit. The drilling will further delineate the deposit's geometry and extent of mineralization, as well as target an increase in resource confidence to the measured category in the core area of the deposit where the neodymium-praseodymium ('NdPr') distribution is highest.
As the Ashram Deposit outcrops in several areas, it is only covered by a thin veil of overburden with the strongest NdPr grades and distributions present from surface. As such, drill holes are expected to range from 100 to 250 m in total vertical depth, which corresponds to set depths below the planned pit shell for the Project.
The Ashram Deposit is characterized by a single, large mineralized body, with monazite-bastnaesite-xenotime mineralization extending from surface to depths of over 600 m, with the final sample of drill hole EC11-050 assaying 4.13% REO (599.9 to 600.5 m). The deposit's surface footprint is at least 600 m long and 350 m wide and remains open to the north, south, and at depth. The Ashram Deposit hosts a measured resource of 1.6 million tonnes (Mt) at 1.77% rare earth oxide (REO) and 3.8% F (7.7 CaF2), an indicated resource of 28 Mt at 1.90% REO and 2.9% F (5.9 CaF2), and an inferred resource of
In addition to the diamond drill program, the Company intends to carry-out the remaining environmental work at site required to support the
The Company expects to carry-out its 2021 field program concurrently with the drill program being planned by
The Company notes that it will carry-out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. The Company is engaged in the process to obtain formal authorization to enter the Nunavik Territory for the purposes of mineral exploration and is confident that it will succeed. Mineral exploration has been recognized as an essential service in
About
Contact:
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include our plans to drill at the Ashram project, the expected results allowing us to delineate the mineralization, and plans for environmental work and that we could become a long term supplier of mixed rare earth carbonate and/or NdPr oxide. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the methods proposed don't work as well as expected, the drilling may not go as planned or start when expected, we may experience difficulties in drilling and carrying out environmental work; changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
(C) 2021 Electronic News Publishing, source