Autor: Stan Leung (sleung_at_commerceresources.com)
Data: Thu 19 Jul 2001 - 02:53:10 MET DST
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News Release - Tuesday, July 17, 2001
COMMERCE RESOURCES CORP. Enters Into Agreement With International
Arimex Resources Inc. ("IEA - CDNX")
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D
Commerce Resources Corp. (the "Company") wishes to announce the signing =
of
a property sale agreement with International Arimex Resources =
Inc.("IEA")
whereby IEA is to acquire a 100% interest in 24 mineral claims located =
in
the Cariboo and Kamloops mining divisions, British Columbia.
Consideration consists of a $10,000 non-refundable deposit which has =
been
paid, in addition to $40,000 and the issuance of 200,000 Special =
Warrants
upon regulatory approval. Each Special Warrant is exercisable, for no
additional consideration, into one common share of the Company. Any
unexercised Special Warrants will be deemed exercised on the 5th =
business
day after the Company receives a receipt for an Annual Information Form
from the British Columbia Securities Commission. The acquisition is =
subject
to regulatory approval.
The claims are composed of the Gum 1-6, Buster 1-7 and Storm 1-11. The =
Gum
1-6 claims contain a known carbonatite occurrence known as the Gum Creek
Carbonatite, which occurs as a layer about 10m thick on a ridge above =
Gum
Creek. Carbonatite is the host rock for the tantalum occurrences in the
area.
The Gum 1-6 are contiguous, southeasterly to the Commerce's Fir claims.
The Fir, which hosts the Fir Carbonatite, consists of 12 contiguous =
mineral
claims (Fir 1-12) which cover a total area of about 1725ha. According to
McCrea (2001; p.29):
"The Fir Carbonatite, with the highest reported tantalum grades (in the
Commerce Blue River Claim group to date), is up to 75m thick and near
flat-lying. It has been intersected by four drill holes and traced (on
surface) along a strike length of about 400m. Significant prior drill
results include: Hole BC-19 with 8.2m of 318g/t Ta2O5, 1400g/t Nb2O5 and
3.15% P2O5. The apparently simple mineralogy of the Fir Carbonatite
includes ferrocolumbite and pyrochlore in a ratio of approximately 20:1
(columbite : pyrochlore), with very low to negligible uranium. Given the
foregoing, this carbonatite body has potential for exceptional grades =
and
tonnages."
These results set the imperative for an extensive exploration program of the Fir claims by Commerce Resources. This program is scheduled to begin in the mid-summer of 2001.
Preliminary Prospectus
A preliminary prospectus relating to Commerce Resources has been filed =
with
the British Columbia Securities Commissions but it has not become final =
for
the purpose of distribution to the public. There will not be any sale or
any acceptance of an offer to buy the securities in British Columbia =
before
the British Columbia Securities Commission has issued a receipt for the
final prospectus or given some other authorization.
For more information about Commerce Resources Corp. and its projects, =
visit
http://www.commerceresources.com or contact Ikkee Battle at (604) =
484-2700
or Toll Free at 1 866 484-2700
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<DIV><FONT face=3DArial size=3D2><STRONG><EM>News Release - Tuesday, =
July 17,=20
2001<BR><FONT color=3D#ff0000>COMMERCE RESOURCES CORP.</FONT> Enters =
Into <FONT=20
color=3D#ff0000>Agreement With International<BR>Arimex Resources Inc. =
("IEA -=20
CDNX")<BR></FONT>=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D</EM></STRONG><BR><BR>Commerce=20
Resources Corp. (the "Company") wishes to announce the signing of<BR>a =
property=20
sale agreement with International Arimex Resources =
Inc.("IEA")<BR>whereby IEA is=20
to acquire a 100% interest in 24 mineral claims located in<BR>the =
Cariboo and=20
Kamloops mining divisions, British Columbia.<BR><BR>Consideration =
consists of a=20
$10,000 non-refundable deposit which has been<BR>paid, in addition to =
$40,000=20
and the issuance of 200,000 Special Warrants<BR>upon regulatory =
approval. Each=20
Special Warrant is exercisable, for no<BR>additional consideration, into =
one=20
common share of the Company. Any<BR>unexercised Special Warrants will be =
deemed=20
exercised on the 5th business<BR>day after the Company receives a =
receipt for an=20
Annual Information Form<BR>from the British Columbia Securities =
Commission. The=20
acquisition is subject<BR>to regulatory approval.<BR><BR>The claims are =
composed=20
of the Gum 1-6, Buster 1-7 and Storm 1-11. The Gum<BR>1-6 claims contain =
a known=20
carbonatite occurrence known as the Gum Creek<BR>Carbonatite, which =
occurs as a=20
layer about 10m thick on a ridge above Gum<BR>Creek. Carbonatite is the =
host=20
rock for the tantalum occurrences in the<BR>area.<BR><BR>The Gum 1-6 are =
contiguous, southeasterly to the Commerce's Fir claims.<BR>The Fir, =
which hosts=20
the Fir Carbonatite, consists of 12 contiguous mineral<BR>claims (Fir =
1-12)=20
which cover a total area of about 1725ha. According to<BR>McCrea (2001;=20
p.29):<BR><BR>"The Fir Carbonatite, with the highest reported tantalum =
grades=20
(in the<BR>Commerce Blue River Claim group to date), is up to 75m thick =
and=20
near<BR>flat-lying. It has been intersected by four drill holes and =
traced=20
(on<BR>surface) along a strike length of about 400m. Significant prior=20
drill<BR>results include: Hole BC-19 with 8.2m of 318g/t Ta2O5, 1400g/t =
Nb2O5=20
and<BR>3.15% P2O5. The apparently simple mineralogy of the Fir=20
Carbonatite<BR>includes ferrocolumbite and pyrochlore in a ratio of=20
approximately 20:1<BR>(columbite : pyrochlore), with very low to =
negligible=20
uranium. Given the<BR>foregoing, this carbonatite body has potential for =
exceptional grades and<BR>tonnages."<BR><BR>These results set the =
imperative for=20
an extensive exploration program of<BR>the Fir claims by Commerce =
Resources.=20
This program is scheduled to begin<BR>in the mid-summer of=20
2001.<BR><BR>Preliminary Prospectus<BR>A preliminary prospectus relating =
to=20
Commerce Resources has been filed with<BR>the British Columbia =
Securities=20
Commissions but it has not become final for<BR>the purpose of =
distribution to=20
the public. There will not be any sale or<BR>any acceptance of an offer =
to buy=20
the securities in British Columbia before<BR>the British Columbia =
Securities=20
Commission has issued a receipt for the<BR>final prospectus or given =
some other=20
authorization.<BR><BR>For more information about Commerce Resources =
Corp. and=20
its projects, visit<BR></FONT><A =
href=3D"http://www.commerceresources.com"><FONT=20 face=3DArial size=3D2>http://www.commerceresources.com></A><FONT = face=3DArial=20 size=3D2> or contact Ikkee Battle at (604) 484-2700<BR>or Toll Free at 1 =866=20
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