Good morning all,
Today we profiled Great American Energy, Inc (SRBL) which we think has significant upside over the coming days and weeks – and beyond.
It’s a slightly higher priced play than we’re used to (closed yesterday at $0.88) but we wanted to share a less volatile, more steady & liquid play for you all.
If you read our previous email last night, you would know that we think there could be a significant bounce in SRBL coming very soon.
They just released some important news this morning. Check it out below. So if you haven’t had a chance to do your research on SRBL, we suggest you start now!
Great American Energy, Inc. Announces Phase I Exploration Program Scope for Bear Creek Rare Earth Project
Great American Energy, Inc. (SRBL) ("Great American Energy" and/or "the Company") is pleased to report on progress made on the Company’s 2013 exploration program for its Bear Creek Rare Earth Project in British Columbia (BC), Canada. The Phase I program’s scope is designed to better determine the project’s resource and production potential.
The Phase I exploration program will build on property data accumulated through a collection of significant assay samples completed over the past several years. The samples were taken from the base of 1 of 2 outcroppings on the Bear Creek property. The outcropping in question is approximately 100 meters high by 400 meters wide.
The program is designed to determine the scale of the total outcropping as well as the 3 targets to the north. Once the total size and mass of the outcroppings are determined, the Company will then locate drill targets to determine the depth of the potential ore body. Once the total mass of the ore body is determined, the resulting data will be used to calculate the potential valuation of the property.
The proposed due date for total completion of Phase I is June 1, 2013.
Felipe Pimienta, Great American Energy’s CEO, commented: "Now that we have our Phase I exploration program scope defined and the related budget in place, we can concentrate all our efforts on executing the Phase I work program for our work on the Bear Creek Rare Earth Project. As we move toward completing the program in mid-2013, we will continue to release progress details as they become available."
The Bear Creek Rare Earth Project 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.
You can read this news in its entirety at http://finance.yahoo.com/news/great-american-energy-inc-announces-130500188.html
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