Great American Energy, Inc. (OTCBB: SRBL) ("Great American Energy" and/or "the Company") announces 2013 exploration plan details for the Company's Phase I Bear Creek Rare Earth Project in BC, Canada, which warrants a further work program based on the property's potential mineralization.
The Company's exploration plan has been designed to better determine the resource and production potential of the Bear Creek Rare Earth Project, which consists of 10 mining claims totaling ~7,311 acres (~2,959 hectares) that contain potential for significant resources of rare earth elements (REEs) and may contain rare earth oxides. The property lies within the Rocky Mountain Rare Metal Belt, which runs from southeast to northwest BC. In total, the BC Geological Survey has mapped 106 rare metal and/or REE occurrences in the province, most of which fall within the belt.
The Company's Phase I 2013 exploration program will obtain the maximum geological data possible through geochemical and geological mapping. Both of these approaches will collect significant information by providing at least two initial layers of geological data that can be coupled with a subsequent Phase II geophysical program to identify drill targets. In addition, neither geochemical nor geological mapping require a work permit, enabling the exploration program to advance more quickly and at lower cost.
The 2013 exploration work area covers an 8-km
area (4-km east-west by 2-km north-south). The area was selected from areas that previously underwent assessment work in 2010 and 2011; yielded the highest REE assay results; and which correspond with local regional faulting and the Intrusive known as the Trail Pluton.
The Phase 1 exploration program will initiate defining the structural components, mineralized zones and extent of outcrop hosting the Chromite cubes/tetrahedrons REE rocks. Geochemical soil sampling will be performed across a 200m east-west area with 100m line spacing and sample sites offset by 100m to optimally cover the target area. It is expected that roughly 350 to 375 soil samples will be collected across the target area.