American Power Corp. Receives Approval for Phase II of Exploration Drilling Program at Pace Coal Project
September 19 2011 - 9:00AM
Marketwired
American Power Corp. (OTCBB: AMPW) ("American Power" or "the
Company") is pleased to announce the amendment of its prospecting
permit to cover additional drill locations for Phase II of its
exploration drilling program at the Pace Coal Project in Judith
Basin County, Montana.
On July 29, 2011, the Coal and Uranium Program of the Montana
Department of Environmental Quality ("Montana DEQ") approved the
Prospecting Permit No. X2011335, authorizing American Power to
start Phase I of its exploration drilling program at the Pace Coal
Project. The initial permit covered a total of 24 drill holes on 13
different locations and the amended permit covers an additional 16
drill holes on 9 different locations.
As of September 9, 2011, the Company had completed 5,750 feet of
drilling on nine drill locations corresponding to Phase I of its
coal exploration program. American Power expects Phase I to be
completed imminently. The board of directors of the Company is very
pleased with the results to date and has approved the initiation of
Phase II of the drilling program as soon as Phase I is
completed.
"We are delighted to have received the approval from the Montana
DEQ that covers Phase II of our drilling program. We are also
pleased to inform our shareholders that preliminary findings to
date are in line with our technical team's expectations, with seven
out of nine drill targets encountering coal intervals," commented
Mr. Al Valencia, President and CEO of American Power. "Drill cores
will be shipped to Standard Laboratories, Inc. in Casper, Wyoming
for analysis according to ASTM standards. Initial sampling results
are expected within two to three weeks," added Mr. Valencia.
Exploration Drilling Program
American Power's planned exploration drilling program consists
of 61 drilling sites and will involve a total of 53,875 feet of
drilling. The program's aim is to place a significant portion of
the coal holdings of the Pace Coal Project in the proven and
probable reserve classification, with an ultimate goal of
establishing sufficient resources to support a greater than 20 year
operational mine life. American Power's exploration program will
provide information relative to coal seam thickness, depth of
cover, expected top and bottom conditions and coal quality.
About American Power Corp.
American Power Corp. is a publicly traded, dynamic energy
company based in Denver, Colorado. The Company was established with
the focus of acquiring near-term, large-scale coal projects in
close proximity to national transportation links. American Power
envisions developing its large coal resources to support
electricity generation.
In April 2010, American Power agreed to acquire the coal and
mineral rights on roughly 29,000 acres in Judith Basin County,
Montana, which make up the Pace Coal Project. The estimated
resources in place, based on exploration work conducted by Mobil
Oil Co. (now ExxonMobil Corp.) in several independent studies,
range from 172 million up to 410+ million tons of high volatility
bituminous B coal.
American Power is a member of the Montana Mining Association.
American Power trades on the NASD OTC BB under ticker symbol AMPW.
Shareholders are invited to contact investor relations toll free at
(800) 537-1110 for further information or visit the Company's
website at www.americanpowerco.com.
Forward-Looking Statements
Statements in this news release that are not historical facts
are forward-looking statements that are subject to risks and
uncertainties. Forward-looking statements in this news release
include that American Power Corp.'s 29,000-acre leases in Judith
Basin County, Montana, have high volatile bituminous B coal in the
range of 172 and 410+ million tons. Readers should also refer to
the risk disclosures outlined in the Company's quarterly reports on
Form 10-QSB, annual reports on Form 10-KSB, and the Company's other
disclosure documents filed from time-to-time with the Securities
and Exchange Commission available at www.sec.gov
Investor Relations Information: Toll Free: 1-800-537-1110
E-mail: Email Contact