Commerce Resources raises Upper Fir estimate

NEW YORK, Nov 30 (Reuters) - Commerce Resources Corp (CCE.V: Quote, Profile, Research), a Canadian exploration and development company, released an updated independent resource estimate for its Upper Fir tantalum-niobium deposit at the Blue River Project in British Columbia.

With the new resource estimate, total tonnage (indicated plus inferred) of host rock containing tantalum and niobium has increased by 44 percent at the 100 grams per tonne (g/t) cutoff, 9 percent at the 150 g/t cutoff, and 37 percent at the higher grade 200 g/t cutoff.

The increase in the higher grade areas will be a key contributor to the ultimate economics of the deposit.

"Our updated resource estimate demonstrates that the Upper Fir deposit is a large, well defined tantalum and niobium deposit with the tonnage to provide long term stable supply for the tantalum and electronics industry," said Dave Hodge, President of Commerce Resources.

"It provides us with a solid foundation to move the deposit into development."

For a link to the story on the company's website, click: here

The updated resource calculation represents an increase of 8 million lbs of tantalum at the site.

Tantalum is a corrosion resistant metal, which has the ability to store and release an electrical charge. It is critical for the production of microelectronic capacitors that are necessary for the production of cell phones, laptops, digital cameras, airbags, and other electronic devices.

Niobium is a rare, soft, grey, ductile transition metal, used mainly in the production of high-grade structural steel. (Reporting by Chris Kelly; Editing by Marguerita Choy) ((chris.kelly@thomsonreuters.com; +1 646 223 6042; Reuters Messaging: chris.kelly.reuters.com@reuters.net))