Commerce Resources Corp. reported that the company has received results from mineral tests conducted at two drill holes on the company’s properties in Canada.
Commerce Resources Corp. drilled the EC10-046 and EC10-047 holes into the Ashram Rare Earth Element Zone at the Eldor Project in Quebec, Canada. The company said that the results of the two drill holes indicated the presence of heavy rare earth element mineralization at the site.
Commerce Resources Corp. said that the recent drilling holes and other exploratory work at the site have established a 650 meters by 35 meters zone of heavy rare earth element mineralization. This mineralization extends to a depth of 364 meters.
Commerce Resources Corp. reported that the company found Total Rare Earth Oxides in the amount of 3.0% at the EC10-046 hole, and 2.25% at the EC10-047 hole. The company said that the four most abundant rare earth elements found in the two test holes were cerium, lanthanum, neodymium and praseodymium.
Samples taken from the EC10-046 and EC10-047 holes were analyzed by Activation Laboratories of Ancaster, Ontario. Commerce Resources Corp. said that the company had $17 million in cash and cash equivalents as of 7/31/2010 to help develop the properties.
For more information on the company, go to www.commerceresources.com
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