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Post by Franko10 ™ on Sept 11, 2004 10:12:06 GMT -5
El Capitan Precious Metals, Inc. Updates Geological and Geophysical Results
MONDAY , MAY 19, 2003 04:41 PM
ENGLEWOOD, Colo., May 19, 2003 (BUSINESS WIRE) -- El Capitan Precious Metals, Inc. (OTCBB:ECPN) said today that in response to numerous inquiries, it is providing preliminary assay results recently completed on the El Capitan mining property in Capitan, New Mexico.
The El Capitan property consists of approximately 200 acres of patented and unpatented lode claims located in the South Central New Mexico county of Lincoln.
Exploration has shown there exists more than 7.5 million tons of iron ore and over 58 million tons of indicated and inferred mineral reserves. The preliminary assays commissioned by the operator, Gold and Minerals Co., Inc., indicate there exists a potential for the discovery of recoverable amounts of precious metals contained within the lode claims held by El Capitan.
The recently completed preliminary core sampling program reflected high concentrations of gold within the iron ore. In addition, high concentrations of silver were found and other precious metals within the platinum group were present. A total of eleven samples were tested and the results of the modified fire assay were gold amounts ranging from 0.07 to 0.41 troy ounce per ton. Results for the other precious metals groups are being evaluated and are pending.
"While the results of the preliminary samples are extremely encouraging," stated Chuck Mottley, President of El Capitan Precious Metals, "we need to conduct a larger sampling to further confirm those numbers."
For further information on El Capitan Precious Metals, Inc., including the El Capitan mining property and the core sampling results, please see the Company's recently filed Annual Report on Form 10-KSB or go to www.elcapitanpmi.com.
El Capitan Precious Metals, Inc. is a nominally capitalized development stage company that owns a 40% interest in the El Capitan mine located near Capitan, New Mexico.
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. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in El Capitan Precious Metals/DML Services' Securities and Exchange Commission filings; economic downturns affecting the operations of El Capitan Precious Metals/DML Services; the inability to initiate or complete any contemplated restructuring, offering, acquisition, disposition or other transaction; adverse financial performance by El Capitan Precious Metals/DML Services; failure to obtain or maintain regulatory approval for products and services offered by El Capitan Precious Metals/DML Services; the accuracy of geological and geophysical results including drilling and assay reports; the inability of the Company to develop and/or mine the El Capitan property; and the unavailability of financing to complete management's plans and objectives. The forward-looking statements contained in this press release speak only as of the date hereof and El Capitan Precious Metals/DML Services disclaims any intent or obligation to update these forward-looking statements.
SOURCE: El Capitan Precious Metals, Inc.
CONTACT:
Jamie Phillips
Director of Investor Relations
jpelcapitan@cox.net
480-229-1356
URL: www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2003 Business Wire. All rights reserved.
MONDAY , MAY 19, 2003 04:41 PM
ENGLEWOOD, Colo., May 19, 2003 (BUSINESS WIRE) -- El Capitan Precious Metals, Inc. (OTCBB:ECPN) said today that in response to numerous inquiries, it is providing preliminary assay results recently completed on the El Capitan mining property in Capitan, New Mexico.
The El Capitan property consists of approximately 200 acres of patented and unpatented lode claims located in the South Central New Mexico county of Lincoln.
Exploration has shown there exists more than 7.5 million tons of iron ore and over 58 million tons of indicated and inferred mineral reserves. The preliminary assays commissioned by the operator, Gold and Minerals Co., Inc., indicate there exists a potential for the discovery of recoverable amounts of precious metals contained within the lode claims held by El Capitan.
The recently completed preliminary core sampling program reflected high concentrations of gold within the iron ore. In addition, high concentrations of silver were found and other precious metals within the platinum group were present. A total of eleven samples were tested and the results of the modified fire assay were gold amounts ranging from 0.07 to 0.41 troy ounce per ton. Results for the other precious metals groups are being evaluated and are pending.
"While the results of the preliminary samples are extremely encouraging," stated Chuck Mottley, President of El Capitan Precious Metals, "we need to conduct a larger sampling to further confirm those numbers."
For further information on El Capitan Precious Metals, Inc., including the El Capitan mining property and the core sampling results, please see the Company's recently filed Annual Report on Form 10-KSB or go to www.elcapitanpmi.com.
El Capitan Precious Metals, Inc. is a nominally capitalized development stage company that owns a 40% interest in the El Capitan mine located near Capitan, New Mexico.
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. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in El Capitan Precious Metals/DML Services' Securities and Exchange Commission filings; economic downturns affecting the operations of El Capitan Precious Metals/DML Services; the inability to initiate or complete any contemplated restructuring, offering, acquisition, disposition or other transaction; adverse financial performance by El Capitan Precious Metals/DML Services; failure to obtain or maintain regulatory approval for products and services offered by El Capitan Precious Metals/DML Services; the accuracy of geological and geophysical results including drilling and assay reports; the inability of the Company to develop and/or mine the El Capitan property; and the unavailability of financing to complete management's plans and objectives. The forward-looking statements contained in this press release speak only as of the date hereof and El Capitan Precious Metals/DML Services disclaims any intent or obligation to update these forward-looking statements.
SOURCE: El Capitan Precious Metals, Inc.
CONTACT:
Jamie Phillips
Director of Investor Relations
jpelcapitan@cox.net
480-229-1356
URL: www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2003 Business Wire. All rights reserved.
