Commerce Resources commences exploration of Eldor Project for its Rare Earth Potential by Sam Kiri

In a recent article we highlighted the growing demand for Rare earth Metals (REM) and China’s increasing grip on them. There aren’t too many Rare Earths companies but those with Rare Earths projects are certainly keen to develop them. REM prices are expected to rise with the world economic revival further accentuated by supply constraints.

Canadian Venture and Frankfurt listed Commerce Resources Corp (TSX.V: CCE, Frankfurt: D7H) has an interesting Rare Earths project in the Labrador Trough area of northern Quebec, Canada (Eldor Project), in which the company has initiated its summer field work programme. This adds more to the company’s prospect portfolio which includes advanced stage tantalum projects.

The programme will include mapping, prospecting, and rock and trench sampling and is designed to test some of the areas that were identified in 2008 with high values of rare earth elements, tantalum and niobium as well as new prospective areas nearby. In particular, work will focus on the area between the Northwest and Southeast zones close to the high concentrations of rare earth elements identified in rock samples in 2008. Prior exploration at the Eldor has confirmed the tantalum and niobium potential of the project with results from the 2008 exploration reported June 3, 2009.

In addition to the high values of tantalum and niobium identified over the past two field seasons, anomalous REM rock samples were found concentrated just northwest of a central magnetic low between the Northwest and Southeast areas. Several samples taken in 2007 and 2008 returned anomalous concentrations of REM, with 42 samples assaying greater than 0.5 per cent and 23 samples assaying greater than 1 per cent. A carbonatite boulder collected in 2007 assayed the highest total rare earth elements, at 41,828 parts per million (4.18 per cent). Considering that nearly 30 per cent of all rock samples collected by the company during 2007 and 2008 returned greater than 0.5 per cent rare earth elements, these results suggest there is good potential for significant REM mineralization on the property.

The diverse array of mineralization found in the Eldor Carbonatite is not uncommon to these types of systems. Carbonatites are very rare and unique rock types, with approximately 500 complexes known worldwide. Often containing a variety of exotic minerals, carbonatites have been known to produce economic concentrations of rare earth elements, niobium, copper, iron, apatite, vermiculite and fluorite; with significant byproducts which may include barite, zircon, tantalum, gold, silver, uranium, nickel and platinum group elements.

As Commerce emerge as a premier tantalum company, its exposure to REM further underpins the company’s investment case. Commerce is well funded and will be able to finance its ambitious exploration endeavours at Eldor without hampering work programmes at the company’s flagship Upper Fir deposit of its Blue River Tantalum/Niobium Project.

About Commerce Resources
Commerce Resources is engaged in the exploration and development of tantalum and niobium projects. As the company is very well financed, a significant exploration and development program is currently underway at the Upper Fir deposit of its Blue River Tantalum/Niobium Project, British Columbia. The company’s competitive advantage lies in the fact that its projects are located in Canada, an area with low political and currency risk as compared to other world supplies.

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