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2/8/2011

American Power wins prospecting permit for Pace Coal Project in Montana

American Power wins prospecting permit for Pace Coal Project in Montana

American Power Corp. said in a news release that it received approval for the prospecting permit for its Pace Coal Project in Judith Basin County, Montana.

The prospecting permit, which was approved by the Coal and Uranium Program of the Montana Department of Environmental Quality, authorizes the company to carry out the first phase of its planned drilling program.

“We are very excited with the approval of our exploration permit. Our team has been working diligently throughout the year to reach this milestone and we can now say that the start of drilling operations is a few weeks away,” American Power CEO Al Valencia, said. “The permit allows us to begin our prospecting program on 13 drill sites throughout the Pace Coal project area. Additional drilling sites in subsequent phases would be added to our permit by application to the Montana DEQ, as needed for coal resource assessment and future mine-plan development,” Valencia added.

The renewal date of the prospecting permit is July 29, 2012, the company said.

Exploration Drilling Program

American Power said its planned exploration drilling program consists of 61 drilling sites and will involve a total of 53,875 feet of drilling in three different phases.

The first phase of the program consists of a total of 13 drilling locations, while the second and third phases consist of a total of 9 and 39 drilling locations, respectively. The company expects to apply for an amendment to its approved prospecting permit to cover additional locations on subsequent drilling phases.

“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,” the company said in a release.

 

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