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FEATURED JUNIOR

Golden Queen Mining Co. Ltd.

Exchange/Ticker: TSX: GQM
Main Asset: Soledad Mountain
Stage:
Production
Operating Region: U.S./California
Profile: Golden Queen Mining is producing gold and silver at the Soledad Mountain Project located just outside the town of Mojave in Kern County, California. The project is utilizing conventional open pit mining methods and cyanide heap leach and Merrill-Crowe processes to recover gold and silver from crushed, agglomerated ore. Production is projected to average 74,000 ounces of gold and 781,000 ounces of silver... VIEW FULL PROFILE

VANCOUVER, May 20, 2015 /CNW/ - Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the "Company" or "Commerce") is pleased to announce it has completed the first phase of its 2015 field program at its 100% owned Ashram Rare Earth Deposit located in northern Quebec. The 2015 winter/spring field program was composed of resource infill drilling, geotechnical drilling and downhole surveying, geomechanical sampling, as well as hydrogeological drill hole testing. A total of 31 drill holes were completed.

The primary goals of the program were to increase the resource confidence from the current inferred category to the measured and/or indicated categories with infill drilling, as well as complete geotechnical/geomechanical and hydrogeological studies required for the ongoing Pre-feasibility Study (PFS). All necessary work was completed as planned. 

The majority of the first phase of work focused on infill drilling over Centre Pond, along the eastern periphery of the deposit, as well as on the MHREO Zone (EC15-133 and 134).  A total of 31 drill holes totaling approximately 4,146 m (land: 15 holes for 1,988 m; pond: 16 holes for 2,157 m) were completed.

The drilling included both NQ (22 holes for 2,903 m) and HQ (9 holes for 1,243 m) drill core size, with holes ranging in depth from 7 m to 239 m. Table 1 below outlines the attributes of each drill hole as well as the holes purpose (i.e. resource, hydrogeological, geotechnical, and/or geomechanical).

Table 1: Drill Hole Attributes and Target Purpose

 

Hole ID EOH
(m)
Hole
Size
Land/Pond Purpose of Drill Hole
Resource Hydrogeological Geotechnical Geomechanical
EC15-110 115 NQ Centre Pond X - - -
EC15-111 124 NQ Centre Pond X - - -
EC15-112 157 NQ Centre Pond X - - -
EC15-113 127 NQ Centre Pond X - - -
EC15-114 128 NQ Centre Pond X - - -
EC15-115 82 NQ Centre Pond X - - -
EC15-116 155 NQ Centre Pond X - - -
EC15-117 212 NQ Land X - X(1) X
EC15-118 203 NQ Land X X X(1) X
EC15-119 219 NQ Land X X X(1) X
EC15-120 200 NQ Centre Pond X X X(1) X
EC15-121 223 NQ Centre Pond X X X(1) X
EC15-122 209 NQ Centre Pond X X X(1) X
EC15-123 9 HQ Centre Pond - - X -
EC15-123A 167 NQ Centre Pond - X X -
EC15-124 10 NQ Centre Pond - - X -
EC15-125 7 NQ Land - - X -
EC15-126 11 NQ Land - - X -
EC15-127 11 NQ Centre Pond - - X -
EC15-128 26 NQ Land - - X -
EC15-129 200 HQ Land X X X(1) X
EC15-130 62 HQ Land X X X -
EC15-131 200 HQ Land X X X(1) X
EC15-132 62 HQ Land X X X -
EC15-133 239 HQ Centre Pond X - X(1) -
EC15-134 200 HQ Centre Pond X X - -
EC15-135 203 HQ Land X X - X
EC15-136 68 HQ Land X X X -
EC15-137 203 NQ Land X X - -
EC15-138 161 NQ Land X - - -
EC15-139 151 NQ Land X - - -
X(1) Includes downhole optical-acoustic televiewer (OTV-ATV) and related surveys

 

A map showing the drill hole locations is available on the Company's website at http://www.commerceresources.com.

A total of 10 holes were completed with a focus along the eastern side of the near surface mineralization over Centre Pond, straddling the eastern contact of the deposit. These holes are NQ in diameter with depths ranging from 82 m to 223 m to coincide with end-of-hole depths targeted below the level of the deepest Whittle pit shell identified in the Preliminary Economic Assessment (PEA) (Effective date of July 5, 2012; revised January 7, 2015). Management notes that the PEA is preliminary in nature, in that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

The first 12 drill holes have arrived at Activation Laboratories in Ancaster, ON and will be analyzed for rare earths by ICP-MS, as well as for fluorine by Fusion ISE. Results will be released as they are received.

The second phase of the 2015 field program is anticipated to being in late-June / early-July.

NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.  

About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on deposits of rare metals and rare earth elements.  The Company is focused on the development of its Ashram Rare Earth Element Deposit in Quebec and the Upper Fir Tantalum and Niobium Deposit in British Columbia.

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

"Chris Grove"
Chris Grove
President
Tel:  604.484.2700

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements.  Forward looking statements in this press release include but are not limited to any implied changes to the resource confidence of the inferred to measured or indicated categories and any references to the PEA as they are preliminary in nature.   These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information.  Risks that could change or prevent these statements from coming to fruition include changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

SOURCE Commerce Resources Corp.

For further information: please visit the corporate website at http://www.commerceresources.com or contact Investor Relations at 604.484.2700 or This email address is being protected from spambots. You need JavaScript enabled to view it.