This was just released, sure looks like this property is heading in the right direction. Nice to see the CCE with over 15 Million in cash can expand a program like this without further dilution. No buying, but the current price of fifty cents seems to be the new trading base. This expansion also strongly suggests that the other cores yet to be release must look pretty good.
Mr. David Hodge reports
CURRENT DRILL PROGRAM AT ELDOR RARE EARTH PROJECT EXPANDED 50%
Commerce Resources Corp. will add 1,500 metres (six holes) to the already 3,000 metres drilled this year at its Eldor rare earth project located in northeastern Quebec. The expanded program has been driven by the discovery of significant intersections of rare earth elements announced earlier this year.
The Company has also commissioned SGS Geostat Ltd. of Montreal, Quebec to prepare a National Instrument 43-101 compliant mineral resource estimate and associated Independent Technical Report following the receipt of results from the entire 2010 exploration program.
"We are encouraged by the results to date leading us to this decision to expand the drilling and to commission a resource estimate," said Dave Hodge, President of Commerce.
Eldor Property The Eldor Property covers a carbonatite complex located within the central Labrador Trough located in northern Quebec; approximately 130 km south of the town of Kuujjuaq. The property is 100%-owned by Commerce and encompasses 404 claims totaling approximately 19,006 hectares.
Significant tonnage potential has been indicated by the broad thickness and relative continuity of grade encountered thus far in the first two holes at the Ashram Zone. Geologically, the Eldor Project represents one of the largest carbonatite complexes known worldwide. Carbonatite related deposits are a major host for rare metals such as niobium and tantalum and rare earth elements. Geologically similar exploration projects include Hudson Resources Inc.'s Sarfartoq Carbonatite Project in Greenland and Rare Element Resources Ltd.'s Bear Lodge Carbonatite Project in Wyoming.