Commerce Resources Corp. Intersects 2.47% TREO over 123.41 metres, and
Continues to Expand Middle and Heavy Rare Earth Element Enrichment
at the Ashram Deposit, Northern Quebec
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December 7, 2011 - Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) (the "Company" or "Commerce") is pleased to report the results for an additional eleven drill holes completed during the summer/fall exploration program at the Ashram Rare Earth Element ("REE") Deposit at the Eldor Project in northern Quebec. A total of thirty-three drill holes were completed with assays pending for eighteen.
The summer/fall program continued to return lengthy intersections of REE mineralization, including several lying outside of the area used to calculate the initial NI 43-101 resource estimate. Highlights are as follows:
Drill Hole EC11-064: 491.05 metres of 2.04% Total Rare Earth Oxides ("TREO")
Drill Hole EC11-068: 218.74 metres of 2.20% TREO
Drill Hole EC11-059: 123.41 metres of 2.47% TREO
The rare earth mineralized footprint at Ashram now extends approximately 700 metres along strike, over 500 metres across, and to depths exceeding 600 metres. Mineralization remains open to the north, south, at depth, and is not fully constrained to the west and east.
Expanded Middle and Heavy Rare Earth Enrichment
The Middle and Heavy Rare Earth Oxide ("MHREO") enriched zone continues to expand at Ashram with significant intersections returned from EC11-062, 063, 073, and 074 that extend the zone approximately 100 metres to the southeast of EC10-047. The Zone continues to remain at or near surface, and typically ranges from 10-20% MHREO at 1.20-1.80% TREO with peak individual sample values of >20% MHREO not uncommon.
Highlights of this Middle and Heavy Rare Earth enrichment zone include EC11-062 with 43.32 metres of 13.1% MHREO, EC11-63 with 72.45 metres of 12.7% MHREO, EC11-073 with 52.02 metres of 14.9% MHREO, and EC11-074 with 4.51 metres of 15.0% MHREO and 39.94 metres of 10.4% MHREO.
A map showing the drill hole locations and detailed analytical results will be posted on the Companys website at:
Complete results are as follows:
Strike/Dip
()
Drill Hole
From (m)
To
(m)
Interval (m)
TREO (%)
MHREO
(% of TREO)
Neodymium Oxide
(% of TREO)
230/45
EC11-058
2.95
60.10
57.15
1.83
6.3
14.7
incl.
14.22
52.50
38.28
2.10
5.5
13.8
MHREO Zone
2.95
14.22
11.27
1.31
10.2
16.2
0/90
EC11-059
0.68
289.29
288.61
2.03
5.4
15.6
incl.
34.14
157.55
123.41
2.47
4.6
14.3
or
119.76
157.55
37.79
2.69
3.8
13.8
MHREO Zone
0.68
32.20
31.52
1.61
11.2
18.9
230/45
EC11-060
4.57
61.03
56.46
2.05
6.6
15.5
incl.
32.00
61.03
29.03
2.24
5.5
15.1
MHREO Zone
23.79
32.00
8.21
1.49
11.4
17.6
230/75
EC11-061
4.03
166.27
162.24
1.48
7.0
18.1
incl.
4.03
72.85
68.82
1.72
8.0
17.6
Incl.
149.04
166.27
17.23
2.37
3.7
14.2
230/45
EC11-062
4.20
130.53
126.33
1.49
9.4
18.2
incl.
74.14
103.12
28.98
1.88
6.7
16.0
MHREO Zone
4.20
47.52
43.32
1.40
13.1
20.3
230/75
EC11-063
3.89
219.38
215.49
1.78
7.6
16.6
incl.
76.34
158.32
81.98
2.05
6.4
15.7