American Power Corp. Commissions Reserve and Mine Feasibility Study for Pace Coal Project in Montana
DENVER, CO--(Marketwire - April 30, 2012) - American Power Corp. (
The study has been commissioned to Weir International, Inc. ("Weir") with whom the company has been working over the last two years on the Pace Coal project. The purpose of the study is to determine the scope of the project based on all available exploration data to date. Weir will also provide recommendations for additional exploration drilling to further delineate the reserves and resources on the Pace Coal property.
The study will include the preparation of an electronic drill hole database for the property, verification of seam correlations, preparation of a seam reserve map and definition of the mineable reserves and resources. The preparation of reserve/resource and coal quality tables will be done in accordance with US Geological Survey and the US Securities and Exchange Commission requirements.
The mine feasibility study will include a mine plan suitable to geology and production requirements and projections for production capacity, productivity, staffing levels, equipment and facilities, capital expenditures and operating costs.
"We are very excited to inform our shareholders that we are working on a reserve and mine feasibility study with exploration data obtained during the first two phases of our drilling program and data from previous exploration work carried out by Mobil Oil Co.," commented Mr. Al Valencia, CEO of American Power. "Weir is a greatly respected firm in the coal industry and we feel very proud to continue working with them on this project," added Mr. Valencia.
The Company plans to resume its drilling program later this year and incorporate the additional drilling results into the reserve and mine feasibility study.
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 the Pace Coal Project, a 29,000 acre coal project located in Judith Basin County, Montana, to support domestic electricity generation. 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 trades on the OTC BB under the 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.
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
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