Commerce Resources Corp. and Saville Resources Inc. Report Drill Results including 1.36% Nb2O5 over 4.5 m at the Niobium Claim Group Property, Quebec
June 11, 2019 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the “Company” or “Commerce”) is pleased to announce the final drill hole results from Saville Resources Inc. (TSXv: SRE, FSE: S0J) (“Saville Resources”) on the Mallard Prospect at the Niobium Claim Group Property (the “Property”), a subset of the Company’s Eldor claims, which are located approximately 130 km south of Kuujjuaq, Quebec. The Property covers several prospective and advanced-stage niobium-tantalum targets, with Saville Resources completing Year-1 of its Earn-in Agreement on these claims.
Sample assays for drill hole EC19-174A have now been received and have returned the strongest and widest mineralized intervals of niobium to date on the Property. Starting from only 17 m depth (core length), results include 0.80% Nb2O5 over 31.5 m, including 0.98% Nb2O5 over 13.5 m or 1.36% Nb2O5 over 4.5 m, as well as a second sub-interval of 1.04% Nb2O5 over 7.7 m. This near-surface mineralization is followed by a second well mineralized interval, starting from 96.5 m depth (core length), which assays 0.79% Nb2O5 over 37.0 m, including 1.01% Nb2O5 over 7.5 m, as well as a third mineralized horizon assaying 0.67% Nb2O5 over 20.0 m. A total of eleven (11) individual samples from EC19-174A returned >1% Nb2O5 with a peak sample of 1.68% Nb2O5 over 1.5 m.
Company President, Chris Grove states “The potential at Mallard only seems to grow with each drill hole completed. The results from the recent Saville Resources program have been excellent and we are excited to have them continue to advance this asset and unlock the additional value for our shareholders as we focus on the Ashram Rare Earth Deposit, located only 2 km away.”
To date, preliminary interpretation of the drill data indicates the Mallard Prospect is characterized by a series of sub-parallel, elongate, moderate-steep dipping, northwest trending mineralized horizons that extend from surface and remain open in all directions. These higher-grade mineralized horizons are separated by comparable horizons of moderate to low grade niobium mineralization. Given the elongate nature of the mineralized horizons, as well as their moderate-steep dip, the mineralized horizons encountered at depth in each hole have a reasonable potential to continue up-dip, and potentially to surface, and therefore, could be intersected at a shallower depth by stepping the drill forward.
In addition, strong grades of tantalum and phosphate continue to be returned in association with the niobium with a zonation between all three evident. Additional mineralogical work is planned as part of Phase II to advance the understanding of the mineral relationships across the mineralized horizons.