American Sands Energy starts drilling at Utah oil sands site
SALT LAKE CITY, Utah -- American Sands Energy Corp., an oil sands exploration and development company operating in Utah, has commenced its drilling program at its Sunnyside, Utah, oil sands site to define parameters for its mine.
This onsite drilling is expected to be completed by early next week, with core analysis finished in early December. This is the final site-specific step required in order for the company to complete the preparation and filing of a state mining permit application for its Sunnyside project.
William Gibbs, chairman and CEO, stated, "We are using the first proceeds from our private placement to take these key steps toward a fully-permitted 5,000-barrel-per-day plant utilizing an industry-first water-free extraction process. Once the application for the permit is filed, we will begin implementing the next phase of our corporate finance strategy, which may include a combination of new capital, project financing, and corporate strategic partnerships."