04:57:18 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Commerce Resources Corp
Symbol CCE
Shares Issued 310,496,558
Close 2018-09-14 C$ 0.055
Market Cap C$ 17,077,311
Recent Sedar Documents

Saville Resources files niobium report on SEDAR

2018-09-17 07:18 ET - News Release

See News Release (C-SRE) Saville Resources Inc (2)

Mr. Mike Hodge of Saville reports

SAVILLE RESOURCES FILES NI 43-101 TECHNICAL REPORT ON THE NIOBIUM CLAIM GROUP PROPERTY, QUEBEC AND ORGANIZES FALL PROGRAM

Saville Resources Inc. has completed and filed, in accordance with National Instrument 43-101, a technical report on the niobium claim group property. The technical report provides a concise overview of the property and its exploration potential and may be accessed through the System for Electronic Document Analysis and Retrieval (SEDAR).

The property is under exploration earn-in agreement from Commerce Resources Corp., whereby the company may earn up to a 75-per-cent interest, subject to certain terms and conditions, including TSX Venture Exchange approval (see news release dated Jan. 11, 2018). The company also reports that subsequently, the agreement was amended to include, within the original terms and conditions, a further five claims, bringing the total property land position to 26 claims (1,223 hectares). The new claims cover additional niobium-tantalum targets in the Miranna and Southeast areas as well the target area known as the Star trench, which was not included in the original agreement. A map outlining the land position is available at the company's website.

The Southeast area is the most advanced prospect on the property with drill intercepts including 0.82 per cent niobium pentoxide over 21.9 metres and 1.09 per cent Nb2O5 over 5.8 m in drill holes EC10-033 and 040, respectively. These strongly mineralized intercepts have yet to be followed up and, along with Miranna, are high-priority exploration targets for the company.

The drilling at the Star trench area, completed in 2008 and 2010 by Commerce Resources Corp., has returned some of the strongest tantalum drill intercepts to date on the property, including 454 parts per million tantalum pentoxide over 7.8 m and 632 ppm Ta2O5 over 3.8 m in drill hole EC08-025. These drill intercepts, also associated with moderate niobium and strong phosphate mineralization, were returned from relatively shallow depths (less than 50 m core length) with only limited follow-up drilling completed. This follow-up drilling, completed in 2010, consisted of three drill holes totalling 494 m and returned some of the highest-grade individual core samples collected to date on the property, including 1.69 per cent Nb2O5, 2,220 ppm Ta2O5 and 20.5 per cent phosphorus pentoxide over 0.3 m (sample 84321).

The company is currently in the late stages of planning a fall surface program on the property, consisting of prospecting and rock sampling, and a ground magnetic survey to further delineate the mineralized horizon. The work is being completed by Dahrouge Geological Consulting Ltd. with the primary objective of the program to further refine drill hole locations ahead of drilling planned for the first half of 2019.

National Instrument 43-101 disclosure

Darren L. Smith, MSc, PGeol, 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 Saville Resources Inc.

The company's principal asset is the niobium-claim group property, currently under earn-in agreement from Commerce Resources for up to a 75-per-cent interest. The property consists of 26 contiguous mineral claims, encompassing an area of approximately 1,223 hectares, and is considered highly prospective for niobium and tantalum. The property includes portions of the high-priority, and drill ready, Miranna target where prior boulder sampling in the area has returned 5.9 per cent Nb2O5 and 1,220 ppm Ta2O5, as well as the Northwest and Southeast areas where previous drilling has returned wide intercepts of mineralization, including 0.61 per cent Nb2O5 over 12.0 m (EC08-008) and 0.82 per cent Nb2O5 over 21.9 m (EC08-033), respectively.

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