Labrador Properties

Click here for an update on: “Report on Prospecting Activity 2010 – Partridge River“

The Company together with Belmont Resources Inc. have signed an amended agreement for the acquisition of new claims in the Central Mineral Belt (“CMB”) Uranium District, Labrador.

With the assistance of Mr. James G. Burns, P.Eng, Consulting Geologist Ruza arranged the staking of three new geologically and strategically located claim blocks (128 units-32.0 square km). These units are the composition of the amended agreement.

The three licence blocks comprise two properties; Stormy Lake (Otter Lake) totals 105 units (26.25 square km.), and Partridge River (Isabella Falls) totals 23 units (5.75 square km.). They are located 95 km NW and 165 km WNW, respectively, from Goose Bay, Labrador.

Labrador Properties

The Stormy Lake group is located in an area surrounded by a land package being explored by Aurora Energy Resources Inc.-“AXU” (Altius Mineral Corporation – “ALS” and Fronteer Development Group Inc. -“FRG”). The Aurora Energy -Altius/Fronteer land package comprises some of the most active uranium exploration projects ( ie. Michelin, Moran Lake, Post Hill Deposits) in the ‘Central Mineral Belt’ uranium district of Labrador. Longview Strategies Inc./Bayswater Uranium Corp.- “BAY” and Crosshair Exploration & Mining Corp. - “CXX also have adjacent land holdings and are conducting exploration near the Stormy Lake block.

The Partridge River claims are located nearby areas being explored by Tripple Uranium Resources (recently optioned claims to Universal Uranium Ltd.—“UUL” and Silver Spruce Resources Inc. “SSE” exploring jointly with Universal Uranium.

Geological Map

Both Crosshair and Aurora have released significant findings in the Central Mineral Belt and as a result of these exploration results and the rise in the price of uranium, the CMB has seen extensive claim staking over the past few months.

On September 20, 2006 the companies filed NI 43-101 report by James G.Burns, P.Eng., Consulting Geologist.

"The Belmont-Montoro Partridge River and Stormy Lake properties have substantial merit as potential settings for unconformity-related uranium deposits."

For the full report in acrobat format please click here.

View Slideshow of Stormy Lake

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Figure  of 11 : Stormy Boulders

Stormy Lake

In 2007 the Companies completed a 444.5 line-km helicopter borne magnetic and radiometrics geophysical survey. A total of nine (9) anomalies were identified (see March 22, 2007 news release). The Encom Geophysics report (Intrepid Geophysics,2007) highlighted numerous targets.

In the fall of 2007 Crosshair optioned the two properties and completed a geological mapping, prospecting, rock and lake sediment sampling program. The program did not identify any significant new showings or zones of uranium mineralization and Crosshair decided not to continue with the option.

View Slideshow of Partridge River

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Figure  of 4 : Partridge River Landing

Partridge River

In August 2010 Rare Earth Metals Inc. (TSX.V: RA) entered into an option to acquire a 75% interest into the Partridge River (23 claim units) in the historical Letitia Lake – Red Wine rare earth metals camp of west-central Labrador. For more details see the news release dated August 31, 2010.