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Market: TSX-V
Sector: General Mining
Epic: CCE
News: Latest news
Web Site: Commerce Resources
Other Articles: 18-02-201021-12-200930-11-2009

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Monday March 15, 11:21Diamondcorp: a big cash injection and a lot of work to do

70% of the new money was raised from current shareholders, reflecting a hefty amount of faith in the management to deliver.

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Monday March 15, 08:34Robust Resources shares spike on record 82.5M gold-silver zone

The outstanding result came from hole LWD 062 which intersected gold and silver mineralisation over a drilled width of 82.5 metres. It is the widest intersection encountered by Robust in sixteen months of drilling to date.

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Monday March 15, 09:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Commerce Resources

Commerce Resources

Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with a potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir tantalum and niobium deposit in British Columbia, Canada. Commerce is well positioned with sufficient capital to advance the commercialization of a prospectively lucrative mining operation for tantalum and niobium.

Commerce Resources is also focused on the exploration of its new deposit the Eldor carbonatite in Quebec, which is highly prospective for niobium, tantalum and uranium.

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Tuesday, November 24, 2009

Commerce Resources updates resource for Upper Fir tantalum and niobium project

by Sergei Balashov company news image

Vancouver-based tantalum, niobium and rare metals miner Commerce Resources Corp (TSX-V: CCE, FSE: D7H) has reported the results of an independent resource estimate for its Upper Fir deposit at the Blue River tantalum and niobium project in British Columbia, reporting an indicated resource of 6.5 million pounds of tantalum and 43.83 million lbs niobium.

The resource estimate was carried out by Caracle Creek International Consulting, using all available data from exploration drilling programmes conducted on the Upper Fir with a total of 153 holes drilled for 30,648 metres from 2005 through the end of 2008 to provide 3D geological modelling and provide a resource estimation.

As a result, the indicated tantalum and niobium resource was estimated at 16.95 million tonnes grading 175 g/t (grammes per tonne) Ta2O5 (tantalum) containing 6.5 million lbs and 1,174 g/t Nb2O5 (niobium) containing 43.85 million lbs at a cutoff grade of 100 g/t tantalum.

The inferred resource now stands at 44.12 million tonnes grading at 167 g/t Ta2O5 for 16.14 million lbs and 1,184 g/t Nb2O5 for 115 million lbs.

“Our updated resource estimate demonstrates that the Upper Fir deposit is a large, well defined tantalum and niobium deposit with the tonnage to provide long term stable supply for the tantalum and electronics industry. It provides us with a solid foundation to move the deposit into development,” said president of Commerce Resources, David Hodge.

Over the past year, a further 22 holes for 5,587 metres were completed, which included both infill and step-out holes. The resource model will be updated once the results from this programme, which are currently pending, will be received.

The company has raised C$7.206 million in two private placings in October to advance exploration and development at the Blue River project and conduct further exploration at the Eldor property in northern Quebec. This was on top of the C$6.6 million raised on an oversubscribed placing in the previous month, also with the purpose of advancing the company’s two key projects.

Hodge has previously told Reuters that the Upper Fir proj­ect could have a mine life of over 15 years, with annual production of about 1 million pounds of tantalum. The property is located in the Kamloops mining division of British Columbia, about 10 kilometres north of the town of Blue River. The company owns 100% of the project, which is not subject to any underlying royalties.

Commerce Resources is looking to take advantage of the rapidly declining tantalum supply around the globe that has many consumers concerned about securing long term sources of the metal which is used in the electronics industry for its ability to store and release an electrical charge.

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