This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Great American Energy, Inc. To Commence Exploration Program On Rare Earth Project By March 2013

Stocks in this article: SRBL

Great American Energy, Inc. (OTCBB: SRBL) ("Great American Energy" and/or "the Company") announces the Company will commence its exploration program on the Bear Creek Rare Earth Property in British Columbia (BC), Canada, by March 2013.

According to a report by Dr. Stewart A. Jackson, PhD, P, GeoI. (Feb. 2011), the Bear Creek Property contains potential for significant resources of rare earth elements (REEs) and may contain rare earth oxides.[1] REEs are critical to a wide range of products, including many emerging green energy technologies (e.g., Hybrid Cars, Plug-in Hybrid Electric Vehicles or PHEVs, wind turbines, compact florescent lighting); high tech applications (e.g., computer disk drives, cell phones); defense systems and many other applications.

On June 7, 2012 (effective date of April 28, 2012), the Company entered into an option agreement (the "Option Agreement") to acquire an undivided 60% interest in the Bear Creek Rare Earth Property. The property consists of 10 mining claims containing ~7,311 acres (~2,959 hectares) a few miles northeast of the mining community of Trail, BC.

According to the terms of the Option Agreement, the option must be exercised on or before April 30, 2015. To exercise the option, the Company must fund mineral exploration work on the property totaling an agreed upon dollar amount no later than April 30, 2015.

As such, the Company is currently developing a two-phase evaluation program plan designed to measure the distribution and amounts of the property's various rare earth elements in a three dimensional array. Exploration activities will include a surface sampling program on both a grid and geological parameter basis, and a geophysical survey to indirectly map the variations with depth within the host rock.

Great American Energy's CEO, Felipe Pimienta, commented: "We know that samples collected on the Bear Creek property provided indications of rare earth elements at varying levels of potential contribution to value. We also know the property lies within the Rocky Mountain Rare Metal Belt. Now our exploration program will move us closer to better determining the mineral and economic potential of the Bear Creek property."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,612.39 -60.21 -0.34%
S&P 500 2,042.25 -9.57 -0.47%
NASDAQ 4,737.5550 -20.3240 -0.43%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs