Post by Zoinkers on Jul 13, 2006 13:47:33 GMT -5
Press Release Source: El Capitan Precious Metals Inc.
El Capitan Announces Additional Tonnage
Monday July 10, 7:10 am ET
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--July 10, 2006--El Capitan Precious Metals Inc. (OTCBB: ECPN - News) reports: Chuck Mottley, the company president and CEO, reported that the company's consulting geologist, Dr. Clyde Smith, has submitted an interim report on additional tonnage added by new assays received on approximately 2,500 feet of the Stage III drilling on the El Capitan project. This brings the indicated resource up to approximately 48 million tons, with approximately 40% of the assays on the drilling on all three stages completed.
Source: El Capitan Precious Metals Inc.
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Assays for the remaining 60% of the total drilling project are continuing to be conducted daily. Their results will be reported as they are received.
Attached to this release is a map of the El Capitan property showing the relationship of the Stage I and II drilling relative to the Stage III drilling. The three stages of the drilling project encompass less than 200 acres of the approximately 10,000 contiguous acres that have been claimed by the company.
El Capitan Precious Metals Inc. is an exploration-stage company that owns a 40% interest in the El Capitan property located near Capitan, N.M., 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, Ariz. In addition, the company owns contractual rights to the Rainbow Valley property consisting of 1,660 acres, and 100% of the Weaver mine, both near Phoenix.
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 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; 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.
MULTIMEDIA AVAILABLE: www.businesswire.com/cgi-bin/mmg.cgi?eid=5184095
Contact:
El Capitan Precious Metals Inc., Scottsdale
James G. Ricketts or Ron Perkins, 480-607-7093
www.elcapitanpmi.com
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Source: El Capitan Precious Metals Inc.
El Capitan Announces Additional Tonnage
Monday July 10, 7:10 am ET
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--July 10, 2006--El Capitan Precious Metals Inc. (OTCBB: ECPN - News) reports: Chuck Mottley, the company president and CEO, reported that the company's consulting geologist, Dr. Clyde Smith, has submitted an interim report on additional tonnage added by new assays received on approximately 2,500 feet of the Stage III drilling on the El Capitan project. This brings the indicated resource up to approximately 48 million tons, with approximately 40% of the assays on the drilling on all three stages completed.
Source: El Capitan Precious Metals Inc.
· View Multimedia Gallery
Assays for the remaining 60% of the total drilling project are continuing to be conducted daily. Their results will be reported as they are received.
Attached to this release is a map of the El Capitan property showing the relationship of the Stage I and II drilling relative to the Stage III drilling. The three stages of the drilling project encompass less than 200 acres of the approximately 10,000 contiguous acres that have been claimed by the company.
El Capitan Precious Metals Inc. is an exploration-stage company that owns a 40% interest in the El Capitan property located near Capitan, N.M., 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, Ariz. In addition, the company owns contractual rights to the Rainbow Valley property consisting of 1,660 acres, and 100% of the Weaver mine, both near Phoenix.
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 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; 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.
MULTIMEDIA AVAILABLE: www.businesswire.com/cgi-bin/mmg.cgi?eid=5184095
Contact:
El Capitan Precious Metals Inc., Scottsdale
James G. Ricketts or Ron Perkins, 480-607-7093
www.elcapitanpmi.com
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Source: El Capitan Precious Metals Inc.