American Power Corp. Pace Coal Project Drilling Update
17 Oktober 2011 - 3:00PM
Marketwired
American Power Corp. (OTCBB: AMPW) ("American Power" or "the
Company") is pleased to provide an update on its drilling
operations on the Pace Coal Project located in Judith Basin County,
Montana.
As of October 14, 2011, the Company had completed 6,655 feet of
drilling on 9 out of 10 drill locations corresponding to Phase I of
its coal exploration program. Only one location planned for testing
of coalbed methane in Phase I had been postponed until the start of
Phase III. With regard to Phase II, the Company had completed 2,844
feet of drilling on 5 drill locations.
"We decided to move forward with Phase II of the exploration
program after obtaining encouraging preliminary results during
Phase I, which showed a coal thickness ranging between 10 and 12
feet in the eastern section of our main area of operations. Our
immediate plan of action is to analyze the quality of the coal
found and concentrate our drilling efforts in the eastern area of
the property with the objective of delineating a mineable resource
by the end of the drilling program," commented Mr. Al Valencia,
President and CEO of American Power. "Laboratory results for the
core samples of Phase I are still pending. These results will be
announced upon completion of their analysis and interpretation by
our technical team," added Mr. Valencia.
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.
Cautionary Note to U.S. Investors The
United States Securities and Exchange Commission ("SEC") permits
mining companies, in their filings with the SEC, to disclose only
proved reserves that a company has demonstrated by actual
production or conclusive formation tests to be economically and
legally producible under existing economic and operating
conditions. We use certain terms in this document that SEC's
guidelines may prohibit us from including in filings with the
SEC.
Investor Relations Information: American Power Corp. Toll
Free: 1-800-537-1110 E-mail: Email Contact