Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company" or "Commerce") and Canadian International Minerals Inc. (CNSX: CIN) ("Canadian International") are pleased to announce results from summer exploration at the Carbo Property located 80 kilometers northeast of Prince George, British Columbia and contiguous with Spectrum Mining Corporation's recently reported Wicheeda rare earth element discovery.
The 2009 exploration program included rock, silt, and soil sampling as well as geological mapping and prospecting. It was designed to follow-up on previous exploration by Commerce as well as historic work by Teck Corporation. The Carbo Property contains rare earth element and niobium-bearing carbonatite and alkaline intrusions.
In late October, Spectrum Mining Corporation, a private company reported significant rare earth element mineralization on claims contiguous to the Carbo Property. Highlights included a 48.64 metre ("m") interval which averaged 3.55% REE, a 72 m interval that averaged 2.92% REE, and a 144 m interval that averaged 2.20% REE in three separate drill holes. To view a map of the location of Spectrum's discovery and the Carbo claims, visit: Click Here
The 2009 exploration program at the Carbo Property resulted in the identification of a new soil anomaly greater than 1 kilometre by 500 m in the southwest portion of the claim blocks. The highlight of the program was a soil sample (09mgb0002) within the new anomaly that exceeded the detection limit of 10,000 ppm (greater than 1%) cerium (Ce), indicative of light rare earth content, and 309 ppm gadolinium (Gd), indicating the presence of heavy rare earths.
Commerce and Canadian International are encouraged by the results being released from the area and are planning an expanded program that will include trenching and drilling in 2010. Future exploration will aim to identify extensions of the Wicheeda discovery on the Carbo claims, follow-up on the new soil anomaly and further test some of the historic trenches on the property.
The 2009 exploration program at the Carbo Property was funded by Canadian International. Canadian International has the option to earn a 75% joint venture interest in the Carbo claims by paying the Company, over a three year period, $30,000 cash, a total of 1,500,000 common shares, and incurring a total of $198,000 in exploration expenditures. Canadian International has completed its required first year payments. Commerce will retain a 25% interest and 2% NSR Royalty on the Carbo claims.
Jody Dahrouge, P.Geo. and Vice-President of Exploration, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
The 2009 exploration program included rock, silt, and soil sampling as well as geological mapping and prospecting. It was designed to follow-up on previous exploration by Commerce as well as historic work by Teck Corporation. The Carbo Property contains rare earth element and niobium-bearing carbonatite and alkaline intrusions.
In late October, Spectrum Mining Corporation, a private company reported significant rare earth element mineralization on claims contiguous to the Carbo Property. Highlights included a 48.64 metre ("m") interval which averaged 3.55% REE, a 72 m interval that averaged 2.92% REE, and a 144 m interval that averaged 2.20% REE in three separate drill holes. To view a map of the location of Spectrum's discovery and the Carbo claims, visit: Click Here
The 2009 exploration program at the Carbo Property resulted in the identification of a new soil anomaly greater than 1 kilometre by 500 m in the southwest portion of the claim blocks. The highlight of the program was a soil sample (09mgb0002) within the new anomaly that exceeded the detection limit of 10,000 ppm (greater than 1%) cerium (Ce), indicative of light rare earth content, and 309 ppm gadolinium (Gd), indicating the presence of heavy rare earths.
Commerce and Canadian International are encouraged by the results being released from the area and are planning an expanded program that will include trenching and drilling in 2010. Future exploration will aim to identify extensions of the Wicheeda discovery on the Carbo claims, follow-up on the new soil anomaly and further test some of the historic trenches on the property.
The 2009 exploration program at the Carbo Property was funded by Canadian International. Canadian International has the option to earn a 75% joint venture interest in the Carbo claims by paying the Company, over a three year period, $30,000 cash, a total of 1,500,000 common shares, and incurring a total of $198,000 in exploration expenditures. Canadian International has completed its required first year payments. Commerce will retain a 25% interest and 2% NSR Royalty on the Carbo claims.
Jody Dahrouge, P.Geo. and Vice-President of Exploration, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
No comments:
Post a Comment