Great American Energy, Inc. (OTCBB: SRBL) ("Great American Energy" and/or "the Company") is pleased to announce the management attended the 5
Lithium Supply & Markets industry conference in Las Vegas from January 29-31, 2013. During the conference, the management team visited the Company's Big Smoky Valley (BSV) lithium property in Nevada on January 29, 2013. The BSV lithium project's 48 unpatented placer mining claims comprise ~7,680 acres (~3,108 hectares) adjacent to Clayton Valley's lithium deposit. The Clayton Valley brines have some of the highest lithium content of brines anywhere in the world, and the valley's deposit may exceed 700 million kg (Source: Price/Lechler report).
Following the site visit, Great American Energy's management also visited the adjacent Silver Peak Mine in Clayton Valley, America’s only producing lithium mine, operated by Chemetall Foote, a subsidiary of Rockwood Holdings, Inc. The Silver Peak Mine has been producing for over 40 years at a rate of ~5,000 lithium carbonate equivalent (LCE) tonnes per year. The lithium-bearing rhyolites (i.e., fine-grained extrusive volcanic rock) contained in the surrounding playa floor are among the richest in the world according to US Geological Survey (USGS) information.
According to a National Instrument 43-101 compliant technical report (Coast Mountain Geological Ltd, Sept. 2009) on what is now Great American Energy's Big Smoky Valley lithium property, the BSV property represents similar geology to that of the Silver Peak Mine in the adjoining Clayton Valley.
Among the themes explored at the 5
Lithium Supply & Markets conference were developments in end user markets (including the outlook for vehicle electrification and its potential impact on the lithium demand for auto batteries); the current exploration and production state (including status of projects in development and the use of numerical modeling for reserve estimation); and recent industry mergers (including Lithium 1 and Galaxy Resources, and Tallison and Rockwood).
Great American Energy's CEO, Felipe Pimienta, commented: "Attending the Lithium Supply & Markets conference was another reminder of just how much industry demand for lithium is growing. It was very encouraging. And, as always, visiting our Big Smoky Valley property and seeing the signs of proven production so nearby further drove home the true potential of our lithium property. Our visit also highlighted the further significance of our lithium project's location, from Nevada being one of the top mining jurisdictions in the world, to all the surrounding infrastructure, the extensive room for evaporation ponds, and even our close proximity to lithium battery and hybrid/electric vehicle manufacturers in California and others in the US and Canada."