An early-stage but highly prospective rare metals project continues to advance as two companies identify drill targets and work towards an initial 43-101 technical report. On April 5 Saville Resources TSXV:SRE and Commerce Resources TSXV:CCE released an update for the Niobium Claim Group, an approximately 980-hectare package within Commerce’s northern Quebec Eldor property. Last January Saville inked an agreement for a 75% earn-in on the niobium-tantalum project that’s contingent on the 43-101 and TSXV approval.
Eldor also hosts Commerce’s Ashram project, one of the Western world’s most advanced rare earths deposits, currently moving towards pre-feasibility.
Sampling and drilling so far on the Niobium Claim Group have outlined three focal points called the Miranna, Southeast and Northwest areas. Previously reported niobium samples from the Miranna boulder train include an exceptional result of 5.93% Nb2O5, as well as 4.24% and 1.94% Nb2O5. Tantalum samples graded as high as 1,220 ppm, 1,060 ppm and 1,040 ppm Ta2O5. Phosphate assays reached up to 11.9%, 11.5% and 11.1% P2O5.
The team interprets the source of mineralization to be a geophysical anomaly at the boulder train’s apex. As yet undrilled, the location comprises a priority for rig activity.
Some standouts from previously reported drilling at the Northwest area showed:
- - 0.55% Nb2O5, 166 ppm Ta2O5 and 5% P2O5 over 13.15 metres
- - 0.46% Nb2O5, 60 ppm Ta2O5 and 4.6% P2O5 over 46.88 metres
- - (including 0.64% Nb2O5, 20 ppm Ta2O5 and 5.9% P2O5 over 9.95 metres)
A boulder sample with an especially impressive 16.1% Nb2O5 and 7,540 ppm Ta2O5 was collected at the Northwest area’s western edge, where glacial ice direction suggested a potential source within the claim group.
Some previous intercepts from Southeast showed:
- - 0.54% Nb2O5, 71 ppm Ta2O5 and 5.9% P2O5 over 26.1 metres
- - 0.57% Nb2O5, 145 ppm Ta2O5 and 8.9% P2O5 over 74.25 metres
- - (including 0.85% Nb2O5, 97 ppm Ta2O5 and 8.9% P2O5 over 19.54 metres)
- - 0.48% Nb2O5, 329 ppm Ta2O5 and 7.2% P2O5 over 33.93 metres
The Southeast results in particular call for additional infill and step-out drilling for further delineation and to consider completing a maiden resource, the companies stated. Geophysics provides further evidence of drill targets in all three areas.
Tests have identified the primary host mineral for niobium-tantalum to be pyrochlore, the dominant source mineral for processing those metals.
Saville also announced the closing of the second tranche of a private placement totalling $289,700.