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Post by Franko10 ™ on Sept 11, 2004 10:18:34 GMT -5
EL CAPITAN ANNOUNCES FURTHER ASSAY RESULTS FROM EL CAPITAN MINE
Englewood, CO – El Capitan Precious Metals, Inc. (OTC/BB: ECPN) announced today that it has received further assay results from representative ore samples taken from the El Capitan mine. These results, provided by AuRIC Metallurgical Laboratories of Salt Lake City, Utah, showed gold of 0.093 ounces per ton, silver of 0.064 ounces per ton, platinum of 0.300 ounces per ton, and palladium of 0.075 ounces per ton. AuRIC Metallurgical Laboratories is a refinery and assayer, and is recognized in the mining industry as a third party referee for disputes between mining companies and refineries.
“According to AuRIC, these results are representative samples that are consistent with other assays they have conducted on our ore,” stated El Capitan President, Chuck Mottley. “It is important to note, however, these are not proven reserves and a significant amount of work lays ahead to prove these reserves. Given that fact, we are still excited as these results confirm our earlier assays regarding not only the gold and silver, but also the existence of platinum and palladium in quantities that could be significant.
“ All these facts notwithstanding, we do not want to create the impression that we are close to mining this property. There is a lot of work to be done and a significant amount of capital necessary not only to prove the reserves, but to mine the property if the precious metals values can be proven in the 65 million tons that the Company has identified,” continued Mr. Mottley.
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 as well as 13 mining claims and other assets known as the C.O.D. Property located near Kingman, 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. 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 Securities and Exchange Commission filings; economic downturns affecting the operations of El Capitan Precious Metals; the inability to initiate or complete a possible sale of the El Capitan or COD properties or any other restructuring, offering, acquisition, disposition, joint venture or similar transaction; adverse financial performance by El Capitan Precious Metals; failure to obtain or maintain regulatory approval for products and services offered by El Capitan Precious Metals; 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 or COD properties; 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 disclaims any intent or obligation to update these forward-looking statements.
Jamie Phillips
Director of Investor Relations
jpelcapitan@cox.net
480-229-1356
Englewood, CO – El Capitan Precious Metals, Inc. (OTC/BB: ECPN) announced today that it has received further assay results from representative ore samples taken from the El Capitan mine. These results, provided by AuRIC Metallurgical Laboratories of Salt Lake City, Utah, showed gold of 0.093 ounces per ton, silver of 0.064 ounces per ton, platinum of 0.300 ounces per ton, and palladium of 0.075 ounces per ton. AuRIC Metallurgical Laboratories is a refinery and assayer, and is recognized in the mining industry as a third party referee for disputes between mining companies and refineries.
“According to AuRIC, these results are representative samples that are consistent with other assays they have conducted on our ore,” stated El Capitan President, Chuck Mottley. “It is important to note, however, these are not proven reserves and a significant amount of work lays ahead to prove these reserves. Given that fact, we are still excited as these results confirm our earlier assays regarding not only the gold and silver, but also the existence of platinum and palladium in quantities that could be significant.
“ All these facts notwithstanding, we do not want to create the impression that we are close to mining this property. There is a lot of work to be done and a significant amount of capital necessary not only to prove the reserves, but to mine the property if the precious metals values can be proven in the 65 million tons that the Company has identified,” continued Mr. Mottley.
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 as well as 13 mining claims and other assets known as the C.O.D. Property located near Kingman, 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. 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 Securities and Exchange Commission filings; economic downturns affecting the operations of El Capitan Precious Metals; the inability to initiate or complete a possible sale of the El Capitan or COD properties or any other restructuring, offering, acquisition, disposition, joint venture or similar transaction; adverse financial performance by El Capitan Precious Metals; failure to obtain or maintain regulatory approval for products and services offered by El Capitan Precious Metals; 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 or COD properties; 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 disclaims any intent or obligation to update these forward-looking statements.
Jamie Phillips
Director of Investor Relations
jpelcapitan@cox.net
480-229-1356
