October 18, 2021 – Commerce Resources Corp. (TSXV: CCE, FSE: D7H0; OTC: CMRZF) (the “Company” or “Commerce”) is pleased to announce that it will be providing in-kind support for an academic project involving the research and development of ecologically friendly flotation collector reagents. Specifically, the Company will contribute Ashram Deposit material, collected from the 2012 bulk sample, to support the study.
The initial objective of the project, named SideroFlot, was to develop a bio-based process for removing iron-containing impurities (e.g. iron oxides and sulfides) from industrial minerals such as clays, kaolin, and quartz sands. However, the program has since been expanded to the beneficiation of rare earth minerals and identification of flotation collectors that are both effective as well as biodegradable and ecologically sustainable.
The process is based on the use of microbial complexing agents (amphiphilic siderophores) for selective binding, modification of, and separation of the iron particles in an environmentally friendly, wet processing procedure. The amphiphilic siderophores “Marinobactin”, which are formed by the microorganism Marinobacter, are used as agents for the hydrophobisation (i.e. process of making particles repel water) of the iron minerals. In the current project, the performance of Marinobactin siderophore (a hydroxamate) will be evaluated as a sustainable and biodegradable collector for flotation of REE-minerals – monazite, bastnaesite and xenotime – from a carbonatite matrix.
The SideroFlot Project is being carried-out by Helmholtz-Zentrum Dresden-Rossendorf (HZDR), a non-profit research organization and member of the Helmholtz Association of German Research Centers, Germany’s largest scientific organization with a 3-billion-euro annual budget. The HZDR conducts research on three areas of focus – materials, health, and energy with the long-term overarching objective of addressing some of society’s larger challenges. The project is being assisted by Gerhard Merker, a Mineral Process Engineer who helped with the development of the Ashram Deposit flowsheet (see news release dated August 13 and December 4, 2013)
Company President, Chris Grove comments, “The academic and R&D community maintains a strong interest in using Ashram Deposit material in support of their research, in large part due to the deposit’s similarity to global hard rock rare earth element (REE) producers. This program is focused on environmentally friendlier solutions to the mining and processing of the REE’s and we are excited to be providing material for this. The data collected from this program will ideally help advance the Project and position it for the long-term, as well as advancing the understanding of REEs as a whole and, therefore, move us closer to a decoupling of Chinese control.”
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
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Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include, but are not limited to, statements regarding the progress of the Company’s metallurgical program and any future methods employed therein, the Company’s ability to reduce downstream processing costs and risk, the Company’s ability to repeat and produce high-grade monazite concentrates, the Company’s ability to become one of the lowest cost rare earth producers globally as well as its potential ability to be a long-term supplier to the met-spar and acid-spar markets. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the methods proposed do not work as well as expected, the leach residue may not be usable, that the Company may experience difficulties producing concentrate or achieving an upgrade to the concentrate; changing costs for mining and processing; increased capital costs; the timing and content of the work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; that testing of the Company’s process may not prove successful and even if tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The novel strain of coronavirus, COVID-19, also poses new risks that are currently indescribable and immeasurable. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.