What about CIN-VWhat about CIN-V....they can earn up to a 75% working interest.....stock is cheap at 0.22
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Canadian International has the option to earn up to a 75% interest inthe Carbo Project by paying Commerce $30,000 cash, issuing 1,500,000common shares and incurring a total of $198,000 in explorationexpenditures over a three year period. Commerce also retains a 2% NSRRoyalty on the claims."
Commerce Resources JV partner starts Carbo drilling
Ticker Symbol: C:CCE C:CIN
Commerce Resources JV partner starts Carbo drilling
Commerce Resources Corp(C:CCE)
Shares Issued 130,587,140
Last Close10/19/2010
.61
Wednesday October 20 2010 - News Release
Also Canadian International Minerals Inc (C:CIN)News Release
Mr. David Hodge reports
COMMERCE RESOURCES CORP. AND CANADIAN INTERNATIONAL COMMENCE DRILLING ON THE CARBO RARE EARTH PROJECT, B.C.
Commerce Resources Corp.'s joint-venture partner Canadian International MineralsInc. has commenced a minimum1,000-metre diamond drill program on the Carbo rare earth project innortheastern British Columbia.
The program is designed to drill at least 12 diamond drill holes from upto 6 drill sites. Drilling targets have been selected based on theresults from a recently completed high resolution AeroquestRadiometric-Mag survey (50 metre line spacing) and closely spaced augersoil geochemical sampling (25 metre grid).
Expansion of the 1,000 metre drilling program will be dependent onresults and weather conditions. Core logging and storage facilitieshave been arranged in Prince George, B.C. to facilitate secure andtimely data acquisition and sampling. Samples will be sent to ALSChemex labs in North Vancouver, B.C.
The Carbo Property comprises seven claims totaling 2,778 hectares and isaccessible by all-weather gravel roads. The project is located 80kilometres northeast of Prince George, B.C. within the Wicheedacarbonatite camp and is directly adjacent to and contiguous withSpectrum Mining Corporation's Wicheeda rare earth element discovery. Amap with the location of the Carbo claims and Spectrum's rare earthelement discovery is posted at: https://www.commerceresources.com/s/Carbo.asp
The goal of the drilling program is to identify carbonatite hosted rareearth element and rare metal mineralization. Carbonatites andcarbonatite related deposits are a major host for known and producingrare earth element deposits. Several of the world's largest rare earthelement deposits and mines, including Lynas Corporation's (ASX: LYC)Mt. Weld deposit in Australia, and Molycorp Inc's (NYSE: MCP) MountainPass deposit in the United States, are hosted by carbonatites.
Canadian International has the option to earn up to a 75% interest inthe Carbo Project by paying Commerce $30,000 cash, issuing 1,500,000common shares and incurring a total of $198,000 in explorationexpenditures over a three year period. Commerce also retains a 2% NSRRoyalty on the claims.
Appointment of Chief Financial Officer
Commerce is also pleased to announce the appointment of Jody Bellefleuras the Chief Financial Officer of the Company. Ms. Bellefleur is a CGAwith over 14 years experience as a corporate accountant. Ms.Bellefleur was an accountant with a private manufacturing company for12 years and more recently, has worked independently as an accountantfor various publicly listed mineral exploration companies. Ms.Bellefleur is a graduate of the University of British Columbia with aBachelor of Commerce degree, specializing in Accounting and has been amember of the Certified General Accountants Association of BritishColumbia since 1998.
NI 43-101 Disclosure
Jody Dahrouge, P.Geol, VP of Exploration and Director of the Company, aqualified person as defined by National Instrument 43-101, supervisedthe preparation of the technical information in this news release.
? 2010 Canjex Publishing Ltd.