Big TREO find CCE-V
Commerce Resources drills 54.2 m of 2.09% TREO at Eldor
Ticker Symbol: C:CCE
Commerce Resources drills 54.2 m of 2.09% TREO at Eldor
Commerce Resources Corp(C:CCE)
Shares Issued 130,587,140
Last Close11/1/2010
.58
Tuesday November 02 2010 - News Release
Mr. David Hodge reports
COMMERCERESOURCES DRILLING AT ASHRAM RARE EARTH ZONE EXPANDS TONNAGE POTENTIALAND RETURNS 2.15% TREO OVER 42.90 M, ELDOR PROJECT, QUEBEC
Commerce Resources Corp. has releasedanalytical results for three additional holes from the recentlydiscovered Ashram rare earth zone at the Eldor project in NorthernQuebec. The results confirm that the Ashram zone has a large surfaceexpression and depth profile with potential to host a bulk minablerare earth deposit. Highlights from the latest results are summarizedin the associated table.
Hole No. From (m) To (m) Interval (m) TREO (%)
EC10-029 3.18 132.21 129.03 1.50
incl. 3.18 24.64 21.46 1.91
incl. 38.16 115.00 76.84 1.61
EC10-030 7.10 62.61 55.51 1.97
incl. 7.10 50.00 42.90 2.15
EC10-031 5.50 82.96 77.46 1.87
incl. 11.00 65.20 54.20 2.09
Complete analytical results for all of the holes as well as maps withlocations of all holes drilled to date will be posted on the Company'swebsite shortly at: https://www.commerceresources.com/s/Eldor.asp
Expanded Drilling Program
The expanded 2010 drilling program at the Ashram Zone has now beencompleted and consisted of 12 holes totaling approximately 3,312metres. To date, the Company has provided results for the first fiveholes; results for the remaining holes will be announced as soon asthey are available.
All seven of the holes that remain to be reported have intersectedmineralized A/B/BD zone type material over most of their length. Drillholes EC10-039, 044, 045, 046, and 047 ended in mineralization.
A table summarizing the holes pending is included below:
Hole # AzimuthDip(Adegree)EastingNorthingTotal Depth (m) TREO (%)
EC10-039 230 75 536760 6312091 348.96 Assays Pending
EC10-042 230 45 536498 6311993 286.78 Assays Pending
EC10-043 50 45 536498 6311993 378.51 Assays Pending
EC10-044 230 45 536305 6312133 242.85 Assays Pending
EC10-045 0 90 536105 6312133 314.48 Assays Pending
EC10-046 0 90 536163 6312234 364.97 Assays Pending
EC10-047 0 90 536191 6312133 358.70 Assays Pending
*coordinate system NAD83, Zone19
"These results continue to support management's view that Commerce hasidentified a large rare earth deposit which may be amenable to open-pitmining methods at Ashram," stated Dave Hodge, President of Commerce."We are encouraged by the grade and thickness of results received todate, which occur over an extensive area, and look forward to theremaining assays."
The 2010 drilling program was partially guided using a Niton XLp 533KWportable XRF analyser, which has proven to be a valuable tool andindicator for REE mineralization. Based on portable XRF results for theseven holes pending at Ashram, all holes were shown to contain highlyanomalous concentrations of REE mineralization, with EC10-046 andEC10-047 demonstrating the greatest potential. All holes are currentlybeing logged and sampled. Results will be released as soon as they areavailable.
The Ashram Rare Earth Zone is within an approximately 800 metre by 1,000metre magnetic low located near the centre of the Eldor Project, withthe expanded drill program having tested an area measuringapproximately 350 metres north-south by 650 metres east-west, withinthe western part of this magnetic anomaly. Mineralization outcrops atsurface and continues to depth; it remains open to the north, east,south and at depth.
Additional Details on Holes EC10-029, 030, 031
All three holes collared in the main mineralized zone (A-Zone), gradedinto the B-Zone and the BD-Zone. Each hole was drilled with BTW sizecore at an azimuth of 230° and dip of -45°, -45°, and -65°respectively. Drilling to date does not yet allow for an accurate estimation of thedimensions of the REE-bearing zone at Eldor, as such, no estimation oftrue thickness has been made. All samples were analyzed by Activation Laboratories of Ancaster, Ont.using its method eight -- major oxide, rare earths and trace elementpackage by fusion ICP and ICP/MS. The four most abundant REEs that makeup TREO reported above were cerium, lanthanum, neodymium, andpraseodymium. 
Drill holes EC10-029, 030 and 031 were located west of the discoveryhole EC10-027, and were placed to target shallower extensions of thewestern margins of the mineralized system. EC10-029 was situatedapproximately 70 metres southwest of EC10-027 and confirmed the westerncontact of the mineralized system maintains a steep dip to thenortheast, striking northwest. It also confirmed the shallowerextensions of the mineralization identified within drill holes EC10-027and 028. EC10-030 and EC10-031 were drilled from the same pad locatedapproximately 260 metres west-northwest of EC10-027 and targeted thewestern flank of the magnetic low.  Both holes encountered strong andcontinuous REE mineralization with multiple assays in excess of 3% TREO(3.03% over 4.19 metres).
Eldor Project
The Eldor Property covers a carbonatite complex located within thecentral Labrador Trough of northern Quebec; approximately 130 km southof the town of Kuujjuaq. Carbonatite-related deposits are a major hostfor rare metals such as niobium and tantalum and rare earth elements.Several of the world's largest rare earth element deposits and mines,including Lynas Corporation's (ASX:LYC) Mt. Weld deposit in Australiaand Molycorp Inc's (NYSE:MCP) Mountain Pass deposit in the UnitedStates are hosted by carbonatites. Geologically similar explorationprojects include Rare Element Resources Ltd.'s (TSXv:RES) (AMEX:REE)Bear Lodge Carbonatite Project in Wyoming and Hudson Resources Inc.'s(TSXv:HUD) Sarfartoq Carbonatite Project in Greenland.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., a qualified person as defined byNational Instrument 43-101, supervised the preparation of the technicalinformation in this news release.
? 2010 Canjex Publishing Ltd.