Monday, February 26, 2007 5:41 PM
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (“Commerce”) announces that it has acquired, by staking, an additional 79 mineral claims adjacent to the east of Commerce’s Blue River Project in eastern British Columbia. The property now measures approximately 25 km east-west, by about 20 km north-south and encompasses about 500 km2. The claims were acquired for their potential to host additional mineralization, as well as ensuring mineral tenure under area of potential importance for future infrastructure related to mine development.
Commerce originally held 50 claims covering 15,091 ha. On January 24, 2007, Commerce announced the acquisition of 5 new mineral claims in the Mud Lake area covering 1,981 ha. Today’s announcement adds an additional 79 mineral claims covering 36,164 ha. The total land position of the company has now increased approximately by 350%, to a total of 53,236 ha.
During 2006, a small program of regional reconnaissance exploration identified a number of new tantalum, niobium and rare earth element-bearing carbonatite occurrences at locations east of the Fir and Upper Fir carbonatites. In addition, the Howard Creek carbonatite is located within the eastern part of the new claim group. Recent exploration has suggested that some of the existing carbonatite bodies in the Blue River area may be much larger than expected, and that an intrusive centre may exist to the east of the Upper Fir Carbonatite.
Worldwide, carbonatites have been mined and processed for a variety of commodities, including: niobium, phosphate, vermiculite, rare earth elements, copper, nickel, uranium, gold, and other products. Notable examples include Araxa (M.G., Brazil), Catalao I and II (Goias, Brazil), Fen (Norway), Luesche (DRC, Kivu Province), Niobec (Quebec, Canada), and Oka (Quebec, Canada), Palabora (South Africa), Mountain Pass (USA).
The acquisition reaffirms Commerce’s commitment to the Blue River Project which is host to several known carbonatites, each with anomalous concentrations of tantalum(Ta) and niobium(Nb). In addition to more detailed exploration of the known carbonatites, the company intends to conduct a regional exploration program during 2007.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.