SCOTTSDALE, Ariz.--(BUSINESS WIRE)--On the heels of last week’s news of El Capitan Precious Metals, Inc.’s (OTCBB: ECPN) purchase of a heavy metals separation system, the Company today announced recovery results of .40 ounces of gold equivalent per ton of El Capitan head ore.
The precious metals processing was completed in China as part of testing related to the calibration and tuning of the heavy metals separation device that will be used on site at the El Capitan property in New Mexico. After the separation of the hematite and magnetite from the El Capitan ore, an independent lab processed the precious metals that yielded the .40 ounces of gold equivalent per ton of head ore.
CEO Chuck Mottley expressed growing confidence in the Company’s approach to the commercially-viable extraction of precious metals from the El Capitan ore, since these new test results are consistent with previous tests and precious-metals recovery values.
The heavy metals separation system is currently in transit and expected to arrive at the El Capitan mine site within the next several weeks. As the Company prepares for the installation of that equipment, the system will continue to be calibrated to the El Capitan ore for the efficient and effective separation of the iron ore from other elements in the head ore.
The Company also announced that, in support of scale-up for operations at the mine site, it has applied for a modification to its existing minimal-impact mining permit to increase it from a 5-acre permit to a 10-acre permit. The decision supports previously announced schedules for mining operations and the recovery of precious metals.
About El Capitan Precious Metals, Inc.:
El Capitan Precious Metals, Inc. is an exploration stage precious minerals company based in Scottsdale, Arizona that is principally engaged in the exploration of precious metals and other minerals. The Company’s primary asset is its wholly owned subsidiary El Capitan, Ltd., an Arizona corporation, which holds the 100% equity interest in the El Capitan property located near Capitan, New Mexico. www.elcapitanpmi.com
Forward-Looking Safe Harbor Statement:
The statements included in this press release concerning predictions of economic performance and management’s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding the expected completion, timing and results of metallurgical testing, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and expectations with respect to the engaging in strategic transactions. All of such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Specifically, there can be no assurance regarding the timing and terms of any transaction involving the Company or its El Capitan property, or that such a transaction will be completed at all. In addition, there can be no assurance that periodic updates to the Company’s geological technical reports will support the Company’s prior claims regarding the metallurgical value and make-up of the ore on the New Mexico property. Additional risks and uncertainties affecting the Company include, but are not limited to, the possibility that future exploration, development, testing or mining results will not be consistent with past results and/or the Company’s expectations; discrepancies between different types of testing methods, some or all of which may not be industry standard; the ability to mine precious and other minerals on a cost effective basis; the Company’s ability to successfully complete contracts for the sale of its products; fluctuations in world market prices for the Company’s products; the Company’s ability to obtain and maintain regulatory approvals; the Company’s ability to obtain financing for continued operations and/or the commencement of mining activities on satisfactory terms; the Company’s ability to enter into and meet all the conditions to consummate contracts to sell its mining properties that it chooses to list for sale; and other risks and uncertainties described in the Company’s filings from time to time with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
