- 08 March 2010 02.08.2010 - QUANTUM PROCEEDS WITH ACQUISITION OF SILVER MOUNTAIN
- 04 March 2010 BUTLER COMPLETES NAME CHANGE TO QUANTUM RARE EARTH DEVELOPMENTS CORP.
- 25 February 2010 BUTLER TO CHANGE NAME
- 24 February 2010 Butler Resource Corp. Announces completion of Reactivation, upgrade to Tier 2 of TSX Venture Exchange and Closing of Non-Brokered Private Placement
Overview:
•Archie Lake Rare Earth Element Property located 50 kilometres (“km”) east of Uranium City, Saskatchewan and 50 km south of Great Western Minerals Hoidas Lake REE Deposit.
•Historic exploration and results on the property returned significant concentrations of Rare Earth Elements (REEs).
•The property consists of one mineral claim covering an area of 2,108 hectares.
•Historic government reports yield assays up to 15.7% RE2O3, 2.31% Thorium
•Main tested zone 5m wide traced for 600m on surface
•Paleo-placer type deposit
•50km south of Hoidas lake deposit
(1.3 million tonnes avg more than 2% TREE + Y)
•Sampling program and 43-101 just started
•never drilled!
Archie Lake Area Map
(click to zoom)
Published
The historic exploration on the area is summarized in February 1971 assessment reports (not NI43-101 compliant) on file with the Saskatchewan Ministry of Mines. Historic exploration on the property includes an airborne radiometric survey and follow-up prospecting and trenching over one of the anomalies identified. The main showing is postulated to be a paleo-placer type deposit, with monazite crystals constituting up to 50% of the rock in places. The assay reports from the previous exploration showed that ten samples analyzed by spectrographic analysis method showed elevated concentrations of Rare Earth Oxides. Values ranged from 0.1 to 15.7% RE2O3 and averaged 4.04% RE2O3. Individual elemental rare-earth abundances are in the following order: lanthanum, cerium, gadolinium, lutetium, terbium and ytterbium, with trace amounts of scandium and yttrium.