DENVER--(BUSINESS WIRE)--Great American Energy, Inc. (OTCBB: SRBL) ("Great American Energy" and/or "the Company") announces initial details for the Company's 2013 exploration program for its 7,680-acre Big Smoky Valley (BSV) Lithium Project. The exploration program is set to commence on the BSV property in and around Esmeralda County, Nevada, in June 2013.
Surrounding lithium-bearing rhyolites are among the richest in the world according to US Geological Survey (USGS) information, and USGS reconnaissance drill holes on or near the BSV property yielded lithium values averaging 160ppm, according to a 1974 USGS report. The BSV Project is also adjacent to America’s only producing lithium mine, Chemetall Foote's Silver Peak Mine in Clayton Valley (producing for 40+ years at a rate of ~5,000 lithium carbonate equivalent tonnes per year).
The 2013 BSV exploration program is designed to map depth to bedrock or thickness of sediments; map geologic structure and stratigraphy relative to the occurrence of lithium-bearing brine; identify conductors that are thought to be representative of lithium-bearing brine; and provide information for the selection and design of additional geophysical surveys for the identification of drilling locations.
Data on the BSV property will be collected using gravity and controlled-source audio-magnetotellurics/magnetotellurics (CSAMT/MT) surveys. Successful CSAMT/MT surveys have been conducted in the Clayton Valley area, and experience gained from those surveys will be applied to the BSV claims project area. Gravity data will be acquired first and then CSAMT/MT stations will be selected using the results from the gravity survey.
A total of 9 gravity survey lines will be used to cover the BSV claims. Each line will be separated by 1 kilometer, and stations will be acquired at nominal intervals of 1 kilometer, except near the existing USGS well, where additional stations will be acquired at a nominal 500-meter interval. A total of about 100 gravity stations will be acquired along approximately 95 kilometers of line. It is anticipated the gravity survey field work will take 14 days, exclusive of 2 days for mobilization and demobilization.
The gravity data will be acquired by GeoXplor Corp personnel with in-field and remote supervision by Jim Hasbrouck PGp, Hasbrouck Geophysics, Inc., Prescott, Arizona. Deliverables will include Bouguer Anomaly and modeled bedrock sections along each line, a three-dimensional compilation of those results, and a final report detailing the methodology, data acquisition, processing and interpretation. Mr. Hasbrouck will process and interpret the data, and prepare the final report.
Great American Energy's CEO, Felipe Pimienta, commented: "Our Big Smoky Valley Lithium Project fits perfectly with our focus of supporting America’s clean energy and clean tech industries. This initial exploration program will help us better establish the BSV property's full lithium potential and any connections or similarities it might share with Rockwood lithium proven production."
Further underscoring the Country’s lithium production potential is the April 24, 2013 announcement by University of Wyoming researchers regarding the discovery of a vast lithium resource to the northeast of the BSV property. In a project sponsored by the US Department of Energy, preliminary analyses suggest that reservoir brines from the newly discovered 25-square-mile area in southwest Wyoming could contain 228,000 tons of lithium. By way of comparison, the lithium reserves at Clayton Valley's Silver Peak Mine in Nevada total 118,000 tons in a 20-square-mile area.
Learn more about the Big Smoky Valley Lithium Project, the Company, and its recent news at Great American Energy’s website: http://www.gamericanenergy.com.
ABOUT GREAT AMERICAN ENERGY, INC.
Great American Energy, Inc. is a publicly traded (OTCBB: SRBL) mineral exploration and development company focused on supporting America’s growing clean energy and clean tech industries. Based in Denver, Colorado, Great American Energy is dedicated to responsibly identifying, acquiring and developing mineral assets in America and US-friendly countries. The Company’s portfolio of projects currently targets lithium and rare earth element production, both of which are essential to America's clean energy and clean tech industries. For more information on the Company and its activities, visit Great American Energy’s website at http://www.gamericanenergy.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Great American Energy, Inc.
Felipe Pimienta, CEO
999 18th Street
This press release includes certain statements that are forward-looking in nature and that involve a number of uncertainties and risks. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this press release are based on Great American Energy, Inc.'s current expectations and projections regarding future events, which are based on currently available information. The forward-looking statements in this press release may also include statements relating to Great American Energy Inc.'s anticipated new developments, business prospects, financial performance, strategies and similar matters. Great American Energy, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.