LONDON, ENGLAND / ACCESSWWIRE / July3, 2014 / Following up on our latest article "Ashram - The Next Battle in the REE Space between China & ROW", Commerce Resources Corp. (“CCE”) has released material news yesterday (July 2). We had the chance to speak with geologist Darren Smith (M.Sc., P.Geol.) who is Project Manager with Dahrouge Geological Consulting Ltd. and Commerce‘s Qualified Person.
Yesterday’s drill results show that Commerce intersected 4 times (in 3 separate holes) the same mineralization that occurs in their identified MHREO Zone, which is the most valuable type of mineralization in the Ashram Deposit and where the starter pit is anticipated to be located.
The highly valuable MHREO Zone not only has been expanded with new discoveries of extensions but also with higher grades. Apparently, Commerce is moving straight ahead with the most important fundamental steps to advance the Ashram Project towards a production state. The proposed starter pit may turn out to be of higher grade. The next resource estimate, to be prepared in conjunction with the ongoing prefeasibility study, is expected to lift the economics of the projects to new highs. As shown in previous articles, the economics of Ashram are already among the best in the entire sector, whereas Ashram leads the pack with its capability of producing a high-enough mineral concentrate for refineries or end-users.
The full research report can be downloaded with the following links:
"The Ashram Deposit continues to exceed our expectations in nearly all respects. The winter program, which drilled holes inside the previously identified resource, not only increased our confidence in the resource model, but appears to have expanded the identified MHREO Zone, the most valuable zone in the deposit, as well as returning high grade TREO intercepts in adjacent material. Coupled with its simple rare earth mineralogy which is amenable to >40% TREO mineral concentrate grades at high recovery, our Ashram Deposit is clearly a standout in the REE space." (Dave Hodge, President of Commerce Resources Corp.)
Technically, the share price has reached the end of a month-long consolidation phase that, again, took the shape of a triangle. A strong buy signal is generated once the resistive (red) leg is broken as a "thrust" to the upside can be expected thereafter. The goal of the thrust is to rise above the previous high of the triangle (C$0.34) and transform it into new support in order for a new upward-trend to commence thereafter. As per below chart, next larger resistances currently occur between C$0.40-0.50.
Link to live chart 1: http://scharts.co/1eXc6Vt
Link to live chart 2: http://scharts.co/1eXbG1o
Disclaimer: Please read the full disclaimer within the above mentioned research report and on www.rockstone-research.com
SOURCE: ROCKSTONE RESEARCH LTD.