Vancouver, British Columbia, December 8, 2011 - Commerce Resources, (TSXV:CCE) (FSE:D7H) (OTCQX:CMRZF) releases results for an additional 11 drill holes completed during the summer/fall exploration program at the Ashram Rare Earth Element Deposit at the Eldor Project in Northern Quebec.
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A total of 33 drill holes were completed with assays still pending for 18. The company continued to encounter lengthy intersections of Rare Earth Element mineralization, including several lying outside of the area used to calculate the initial NI 43-101 resource estimate.
Highlights included, 491 metres of 2.04% Total Rare Earth Oxides from hole EC11-064, as well as 219 metres of 2.2% from hole EC11-068, and another 123 metres of 2.47% from hole EC11-059.
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.
The middle and heavy Rare Earth Oxide enriched zone continues to expand at Ashram with significant intersections returned from holes EC11-062, EC11-063, EC11-073 and EC11-074. The Zone continues to remain at or near surface, and typically ranges from 10 - 20% middle and heavy rare earth oxides at 1.2% to 1.8% true rare earth oxides with peak individual sample values greater than 20% middle and heavy rare earth oxides not uncommon.
Highlights of the middle and heavy rare earth enrichment zone include 43.32 metres of 13.1% from hole EC11-062, 72.45 metres of 12.7% from hole EC11-063, 52.02 metres of 14.9% from hole EC11-073, and 4.51 metres of 15% and another 39.94 metres of 10.4% from hole EC11-074.
Drill holes EC11-058 through 063, along with 073 and 074 all collared in mineralization while targeting the western contact of the deposit as well as probing the extent of the middle and heavy rare earth oxide enriched zone. Drill holes EC11-064, 065 and 068 probed the northern extensions of the deposit with both EC11-064 and 065 collaring in mineralization. EC11-068 collared in calico-carbonatite while grading into highly mineralized magnesio-carbonatite at depth.
The map of the drill locations and detailed analytical results are on the company's website.
Further, the Ashram Zone has a marked enrichment in europium that ranks among the highest known worldwide. Besides europium, the Ashran Deposit is considerably enriched in dysprosium, and neodymium which compare favourably with other advanced rare earth deposits.
Analytical results from the remaining holes will be reported in batches as they are received. Data compilation of regional results is underway as well as, metallurgical, mineralogical, and environmental studies in preparation for a preliminary economic assessment.
The company is also developing its Blue River Tantalum-Niobium Project in British Columbia.
The shares currently trade at $0.31, and with 148 million shares outstanding, the company is capitalized at $46 million.
For a more information on Commerce Resources, please visit their website at www.commerceresources.com (http://www.commerceresources.com/), phone 866-484-2700 or email info@commerceresources.com (mailto:info@commerceresources.com).
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