Commerce Resources Corp. reported an update on its exploration drilling program at its mining property in Canada, where the company is prospecting for rare earth metals.
Commerce Resources has been conducting its winter drilling exploration program at the Ashram Rare Earth Element deposit on the Eldor property located in northern Quebec. Commerce Resources Corp. has a 100% interest in the Eldor property, which contains 404 mining claims totaling approximately 19,006 hectares.
Commerce Resources Corp. has competed the drilling of seven holes at the site comprising 3,367 meters of drilling. The purpose of the drilling was to expand and delineate the extent of the deposit and help determine if the rare earth minerals could be commercially exploited.
Commerce Resources Corp. reported that the drilling encountered significant amounts of rock types that are consistent with “strong rare earth metal mineralization.” The samples have been sent to Activation Laboratories of Ancaster for further analysis and the company expects the results to be available in May 2011.
Commerce Resources Corp. plans to drill two more drill holes at the Eldor property and then conclude its winter drilling program. The company will start up further exploratory drilling in June 2011.
For more information on the company, go to www.commerceresources.com