To put the numbers of yesterday’s press release more into perspective:
- The Niobec Niobium Mine (operated by IAMGOLD Corp.) in Quebec is in production with a grade of 0.42% Nb2O5. Commerce has now discovered more than 30 boulder/outcrop samples grading >1% Nb2O5 indicating a host body on the property of similar grade.
- Global Advanced Metals Pty Ltd. produced tantalum with a head grade of 220 g/t Ta2O5. Commerce has now discovered more than 80 boulder/outcrop samples grading >300 g/t Ta2O5. Further, high grade tantalum mineralization is often associated with significant niobium mineralization. An additional factor to consider with tantalum grades generally is that pegmatite hosted deposits typcially host higher grades than carbonatite deposits, albeit with lower recovery rates than the carbonatite deposits. This means that there is also a good possibility that such high grades encountered in a carbonatite complex will have higher recovery rates.
- CBMM operates the world’s largest niobium deposit in Araxa (Brazil) with an average mineralization of around 2.5% Nb2O5 (but with a 50% recovery). Historical assays from 2007 showed grades between +1% to 11.4% Nb2O5 on the Eldor Property, which numbers actually drove Commerce to acquire the property in the first place. The historic tantalum-niobium sampling, coupled with the recent high grade results, strongly indicates the potential for Commerce to discover a second high grade deposit on the Eldor Property adjacent to the Ashram Deposit.
Note that these are sample results from Commerce are not indicative of defined resources or mineable reserves. What they do show though is the opportunity Commerce is exploring. As management has already defined major deposits of rare metals (Upper Fir) and rare earth elements (Ashram), the potential of these results are significant in terms of the likelihood for a large new discovery on the Eldor Property adjacent to the already advanced-staged Ashram Deposit that is in pre-feasibility study phase at the moment.