Very Rare
Butler Resource Corp. plans to leave his mark with the Rare Earth Elements
Butler Resource Corp. 's takeover of the Archie Lake Rare Earth Object in September Last year marked a new direction for a company after it essentially dormant for some time. Under its new chairman, Peter Dickie, Butler decided to continue its efforts to to concentrate exploration and development of rare earth element properties, starting with Archie Lake, where the test results described in historical reports from the government proved to 15.7% and 2.31% thorium RE2O3 from one of the main testing area on the surface traced for 600m. The Archie Lake Property lies 50 km east of Uranium City, Saskatchewan and 50 km south of the Great Western Minerals Hoidas Lake REE Deposit. Following on the heels of Archie Lake, a number of other acquisitions effort should investors now stand and definitely take note. Highlighting the new direction will change its name to Butler Quantum Rare Earth Development Corp. We talked to Peter about his plans for Dickie Butler as he took time out to volunteer at the Olympic Games.
Resource Intelligence: Can you give us a brief history of Butler and how it here?
Peter Dickie: Butler is a company that I became involved just over one year ago. At that time she had just finished a 8:1 consolidation, and needed a project to merit a listing TSX Venture Exchange on the back (it was trading on the NEX, due to the lack of a qualified property). As a company, we spent a considerable time and effort in a attempt to obtain suitable properties in different areas of South America, particularly Colombia, where we have a good network of people who can provide advice on acquisitions and earnings properties we studied. After several attempts to buy property in Colombia, all of which were frustrated by lack of time and financial considerations to close, we got the opportunity to Archie Lake Rare Earth property acquisition. In investigating both the Archie Lake property and the rare-earth segment, we realized this was an ideal situation for the Company. We found that the Archie Lake property was once listed by the U.S. Geological Survey in the top 10 undeveloped rare-earth deposits in North America, and we also began to realize the limited number of players in the rare-earth segment were far from forthcoming in demand due to rapid growth in all industries that use rare-earth materials.
RI: There is much more interested in rare earth elements in recent years. What was the attraction for Butler to get involved with these funds?
PD: As more people learn, China now accounts for more than 90 percent of the production of so-called rare earth elements – and more than 99 percent of output for two of these elements, dysprosium and terbium, which are essential for a wide range of green energy technologies and military applications. According to daily tech news, China has encouraged companies the rare earths used to locate their production facilities in the country. However, some companies are afraid to move because of concerns about protecting intellectual property. Deposits of rare earth elements exist in the United States, Canada and other countries, only China's government supports the mining and refining industry capable of processing resources from start to finish. So we believe that demand will continue to grow economically mine-able deposits will become increasingly valuable.
RI: Can us some details about the Archie Lake Property?
PD: Well, the Rare Earth Element Archie Lake Property consists of one mineral claim covering an area of 2,108 hectares and lies 50 kilometers east of Uranium City, Saskatchewan and 50 km south of the Great Western Minerals Hoidas Lake REE Deposit. We acquired the property for a total of $ 40,000 and 2,000,000 shares, payable on Exchange approval. The property is subject to a 2% NSR, half of which (1%) can be repurchased at $ 1,000,000. Historical exploration and results in the area returned significant concentrations of Rare Earth Elements (Rees). Evaluation reports (non NI43-101 compliant) filed with the Saskatchewan Ministry of Mines in February 1971 a survey of the historical exploration work in the field. The Archie Lake property has no reserves, like never drilled. However, it has a some promising tracks on a surface structure that has been traced for more than 600 one hundred meters.
Actual exploration work on the house has an airborne radiometric survey and follow-up prospecting and digging on one of the anomalies. The most important of which is believed to be a kind of paleo-placer deposit, with monazite crystals as much as 50% of the rock in some places. The test reports of the previous survey showed that ten samples were analyzed by spectrographic analysis showed elevated concentrations of rare earths. Values ranged from 0.1 to 15.7% and averaged 4.04% RE2O3 RE2O3. The concentration of individual rare-earth elements, ranging from the highest among the lowest in the following order: lanthanum, cerium, gadolinium, lutetium, terbium and ytterbium, with traces of scandium and yttrium.
RI: So what kind of work have you done to the property so far?
PD: In early October 2009, about 250 meters from the mineralized zone was covered by the ground crew as part of Autumn 2009 exploration program. A total of 36 rock samples were collected from six historic trenches and a small explosion pit on the property and were sent to Acme Analytical in Vancouver for the whole rock and trace element analysis of rare earth elements determined by ICP-MS. Check analysis was conducted by Agat Laboratories Ltd. in Mississauga ON and the Saskatchewan Research Council in Saskatoon, SK using ICP-OES method is able to achieve a higher detection limit, in a subset of the original 36 samples.
Various trenches to the northwest, with historic mineralization reported, were not visited, but the potential to expand the zone, the mineralization and trace elements for a few hundred meters show a strong possibility. The mineralized horizon ranges to a width of six meters clearly was in a pit, but it has not been tested at depths from the surface blasted trenches.
Our 2009 exploration focused on re-sampling historical trenches and they did not have much time to trace the mineralization between the trenches. Further evaluation is needed, evidence of continuing mineralization are considered very good, as the analysis of different samples collected from the trenches showed few percent rare earths.
Several hand samples were sent to Dr Tony Mariano, an expert in rare earth minerals, for further mineralogical analysis and thin section description. Dr. Mariano us Archie told him to find a lake house with great potential. An independent 43-101 report prepared by Darren L. Smith, P. Geol of Dahrouge Geological Consulting Ltd. and Qualified Person for the Archie Lake property and submitted to the TSX-V in December. We received approval in late February.
RI: You have other acquisitions in the works, but that right?
PD: Yes. In the autumn of 2009 we announced the acquisition of Silver Mountain Mines, a private U.S. company. While that is set to take over at short time to go, I can tell you that Silver Mountain a beautiful grass-roots Rare Earth Project in Ontario, and recently also a fantastic pair of Rare Earth projects in Western Australia. These two projects are in the same field where mineral Lynas Corp. is developing its world-class Mt. Weld deposit of 7.7 million tonnes grading 12% oxides of rare grounding. The first of the two tenements covering approximately 7,500 hectares and has returned significant REE results from rock chip samples taken from an historic trench excavated in the late 1990. Ten elements shown good results with the highest being Cerium (CE) to 31,200 ppm, lanthanum (La) to 26,800 ppm and neodymium (Nd) to 14,600 ppm. We expect initially not the ground geophysical work followed by drilling. The other property is situated 45 km north of Mt. Welding and covers 9,600 acres. It has an interesting feature which magnetic We expect to do field evaluations. We also look at other possible acquisitions in the U.S. with a more advanced Rare Earth dwelling with considerable resources already drilled.
RI: What would you consider investors focus in Butler as an attractive buy right now?
PD: We see ourselves as an early entry into a commodity sector with a large potential. We have highly prospective properties with additional acquisitions in the pipeline. We have a strong treasury sufficient for our planned expenditures and a layer of the issued and outstanding share in total treat. So we believe that we can give our shareholders an excellent opportunity to join a company with great potential.
Milestones 2010
* Follow up and close on high-potential acquisitions
* Complete at least one round of drilling on Lake Archie and take over other properties.
About the Author
Is it rare for people around her very blue eyes and jet black?
My daughter has naturally a very light baby blue eyes, pale skin and jet black curly her. Its something I rarely personally see and people always say how "striking" she is. It is actually quite rare? We are Jews of German Jewish background.
I bet she's beautiful! Thats not something you see everyday!
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