Post by Zoinkers on Jan 13, 2007 22:54:15 GMT -5
Press Release Source: El Capitan Precious Metals, Inc.
El Capitan Reports on Metallurgical Research Obtaining Metal in Hand
Tuesday December 19, 7:10 am ET
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTC/BB:ECPN - News) Company President and CEO, Chuck Mottley, reports: "It is significant that our metallurgists are now using standard fire assay methods and producing 'metal in hand' (in the form of a bead). This is a very important step toward putting the Company in a position to market the property. Details of the project status are as follows."
El Capitan Precious Metals, Inc. reports that after several months of investigation into a composite sample from the Company's New Mexico El Capitan deposit, M.H.S. Research has shown that it can readily produce 'metal-in-hand' using standard fire assay procedures. In addition, the results from the main thrust of the investigation indicate that upgrading of the material for optimization of extraction appears to be technically and economically feasible.
The chain of custody composite sample being used for this work was prepared from fourteen Phase 1 and Phase 2 El Capitan drill holes, and consists of 48 different depth intervals that are representative of the mineralogy and grade of the overall deposit.
The research is being conducted by Mr. Mike Thomas, who is an Instructor of mineral processing and a Research Associate at the Colorado School of Mines in the Mining Engineering Department. Mr. Thomas is also the Principal Scientist at M.H.S. Research in Denver, Colorado.
To date, Mr. Thomas has focused on various chemical pre-treatment options, flotation alternatives, magnetic separation, and gravity separation as mechanisms for improving the ease of identification and extraction of the Precious Metal (PM) and Platinum Group Metal (PGM) in the El Capitan deposit material. Mr. Thomas' efforts have clearly shown that significant upgrading, or concentration of the PMs and PGMs into a smaller fraction of the material, is possible using gravity separation techniques.
Mr. Thomas has recently begun testing various fire assay fluxes to improve the effectiveness and repeatability of the standard fire assay procedure on the specific rock matrix of this material. That work has progressed to the point that the next phase of the project, expected to be completed in January of 2007, is to perform multiple replicate tests on composite material in order to establish a benchmark head grade for the composite.
About El Capitan Precious Metals, Inc.
El Capitan Precious Metals, Inc. is an exploration stage company that owns a 40% interest in the El Capitan property located near Capitan, New Mexico as well as a joint venture and 20% ownership of 13 mining claims and other assets known as the C.O.D. mine located near Kingman, Arizona. In addition, the Company owns 100% of the Weaver mine located near Phoenix, Arizona.
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. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the 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 the possibility that future exploration, development 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 iron ore and other products; fluctuations in world market prices for the Company's products; the Company's ability to obtain or maintain regulatory approvals; the Company's ability to obtain financing for the commencement of mining activities on satisfactory terms; the Company's ability to obtain necessary financing; the Company's ability to enter into and meet all the conditions to close 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. The Company disclaims any obligation to update its forward-looking statements.
Contact:
El Capitan Precious Metals, Inc.
Ron Perkins or Jim Ricketts, 480-607-7093
www.elcapitanpmi.com
--------------------------------------------------------------------------------
Source: El Capitan Precious Metals, Inc.
El Capitan Reports on Metallurgical Research Obtaining Metal in Hand
Tuesday December 19, 7:10 am ET
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTC/BB:ECPN - News) Company President and CEO, Chuck Mottley, reports: "It is significant that our metallurgists are now using standard fire assay methods and producing 'metal in hand' (in the form of a bead). This is a very important step toward putting the Company in a position to market the property. Details of the project status are as follows."
El Capitan Precious Metals, Inc. reports that after several months of investigation into a composite sample from the Company's New Mexico El Capitan deposit, M.H.S. Research has shown that it can readily produce 'metal-in-hand' using standard fire assay procedures. In addition, the results from the main thrust of the investigation indicate that upgrading of the material for optimization of extraction appears to be technically and economically feasible.
The chain of custody composite sample being used for this work was prepared from fourteen Phase 1 and Phase 2 El Capitan drill holes, and consists of 48 different depth intervals that are representative of the mineralogy and grade of the overall deposit.
The research is being conducted by Mr. Mike Thomas, who is an Instructor of mineral processing and a Research Associate at the Colorado School of Mines in the Mining Engineering Department. Mr. Thomas is also the Principal Scientist at M.H.S. Research in Denver, Colorado.
To date, Mr. Thomas has focused on various chemical pre-treatment options, flotation alternatives, magnetic separation, and gravity separation as mechanisms for improving the ease of identification and extraction of the Precious Metal (PM) and Platinum Group Metal (PGM) in the El Capitan deposit material. Mr. Thomas' efforts have clearly shown that significant upgrading, or concentration of the PMs and PGMs into a smaller fraction of the material, is possible using gravity separation techniques.
Mr. Thomas has recently begun testing various fire assay fluxes to improve the effectiveness and repeatability of the standard fire assay procedure on the specific rock matrix of this material. That work has progressed to the point that the next phase of the project, expected to be completed in January of 2007, is to perform multiple replicate tests on composite material in order to establish a benchmark head grade for the composite.
About El Capitan Precious Metals, Inc.
El Capitan Precious Metals, Inc. is an exploration stage company that owns a 40% interest in the El Capitan property located near Capitan, New Mexico as well as a joint venture and 20% ownership of 13 mining claims and other assets known as the C.O.D. mine located near Kingman, Arizona. In addition, the Company owns 100% of the Weaver mine located near Phoenix, Arizona.
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. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the 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 the possibility that future exploration, development 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 iron ore and other products; fluctuations in world market prices for the Company's products; the Company's ability to obtain or maintain regulatory approvals; the Company's ability to obtain financing for the commencement of mining activities on satisfactory terms; the Company's ability to obtain necessary financing; the Company's ability to enter into and meet all the conditions to close 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. The Company disclaims any obligation to update its forward-looking statements.
Contact:
El Capitan Precious Metals, Inc.
Ron Perkins or Jim Ricketts, 480-607-7093
www.elcapitanpmi.com
--------------------------------------------------------------------------------
Source: El Capitan Precious Metals, Inc.