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Post by Franko10 ™ on Mar 29, 2005 9:00:26 GMT -5
El Capitan Signs Contract with Drilling Company to Drill 14 Test Holes on the El Capitan Property
3/29/2005 7:00:02 AM
SCOTTSDALE, Ariz., Mar 29, 2005 (BUSINESS WIRE) -- Chuck Mottley, El Capitan Precious Metals, Inc.'s (ECPN) President, announced the signing of a contract with Enviro-Drill to drill 14 test holes on the El Capitan site for the purpose of exploring the property for its gold and platinum potential. The drilling will be overseen by the Company's consulting geologist Dr. Clyde Smith. The results of this project will provide an estimate of the inferred tonnage and grade of precious metals mineralization contained in both magnetic and non-magnetic ore types. The drilling is expected to commence on April 4, 2005, and should be completed by the end of the month.
Mr. Mottley states: "The information obtained from the drilling coupled with the subsequent analysis and Dr. Clyde Smith's report on the thirty-two samples previously taken should give the Company enough information to be able to present the property for sale to a major mining company."
El Capitan Precious Metals, Inc. is an exploration stage company that owns a 40% interest in the El Capitan mine 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 contractual rights to the Rainbow Valley mine consisting of 1,660 acres and 100% of the Weaver mine, both 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, 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; competition from iron ore producers worldwide, which producers have greater resources and more established operations than those of the company; the company's ability to arrange transportation from its mining properties to ocean ports on satisfactory terms; 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; 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.
SOURCE: El Capitan Precious Metals, Inc.
El Capitan Precious Metals, Inc.
Ron Perkins, 480-607-7093
www.elcapitanpmi.com
Copyright Business Wire 2005
3/29/2005 7:00:02 AM
SCOTTSDALE, Ariz., Mar 29, 2005 (BUSINESS WIRE) -- Chuck Mottley, El Capitan Precious Metals, Inc.'s (ECPN) President, announced the signing of a contract with Enviro-Drill to drill 14 test holes on the El Capitan site for the purpose of exploring the property for its gold and platinum potential. The drilling will be overseen by the Company's consulting geologist Dr. Clyde Smith. The results of this project will provide an estimate of the inferred tonnage and grade of precious metals mineralization contained in both magnetic and non-magnetic ore types. The drilling is expected to commence on April 4, 2005, and should be completed by the end of the month.
Mr. Mottley states: "The information obtained from the drilling coupled with the subsequent analysis and Dr. Clyde Smith's report on the thirty-two samples previously taken should give the Company enough information to be able to present the property for sale to a major mining company."
El Capitan Precious Metals, Inc. is an exploration stage company that owns a 40% interest in the El Capitan mine 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 contractual rights to the Rainbow Valley mine consisting of 1,660 acres and 100% of the Weaver mine, both 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, 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; competition from iron ore producers worldwide, which producers have greater resources and more established operations than those of the company; the company's ability to arrange transportation from its mining properties to ocean ports on satisfactory terms; 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; 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.
SOURCE: El Capitan Precious Metals, Inc.
El Capitan Precious Metals, Inc.
Ron Perkins, 480-607-7093
www.elcapitanpmi.com
Copyright Business Wire 2005
