Post by Zoinkers on Sept 5, 2006 0:09:46 GMT -5
Press Release Source: El Capitan Precious Metals, Inc.
El Capitan to Expand Drilling Program to Determine Extent of Mineralization
Monday August 28, 7:10 am ET
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Aug. 28, 2006--El Capitan Precious Metals, Inc. (OTCBB:ECPN - News) reports: Chuck Mottley, the Company's President and CEO, announced today that the Company is contracting to have at least six holes drilled in the anomalies located to the East and West of the El Capitan property. These anomalies are within the three square mile area (approximately 1,900 acres) designated for further exploration by the Company's geologist, Dr. Clyde Smith. Dr. Smith had surface samples from this area assayed which showed similar mineralization as that on the approximately 200 acre El Capitan property.
In addition, drilling will begin to the west of the El Capitan property in an attempt to locate the Western boundary of the mineralization.
This project will not delay the expected reports from Dr. Smith as he receives the data from the metallurgists and assayers nor will it delay the marketing of the El Capitan property.
Dr. Smith stated: "Based on the geologic interpretation of drill cuttings from holes drilled along the west side of the El Capitan deposit, the deposit remains open in that direction. As previously recommended, at least one hole should be drilled in this direction, and more if the geology continues to remain open.
"In addition, and also further to my earlier recommendations, at least two and three holes, respectively, should be drilled to test hyperspectral anomaly locations which are approximately one mile to the west-southwest and to the east-southeast of the El Capitan deposit. Significant fusion assay results from outcropping mineralization (surface samples) showed results similar to those in the El Capitan deposit and provide drill targets at these locations."
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. property located near Kingman, Arizona. In addition, the Company owns contractual rights to the Weaver property 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 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.
Contact:
El Capitan Precious Metals, Inc.
James G. Ricketts or Ron Perkins, 480-607-7093
www.elcapitanpmi.com
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Source: El Capitan Precious Metals, Inc.
El Capitan to Expand Drilling Program to Determine Extent of Mineralization
Monday August 28, 7:10 am ET
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Aug. 28, 2006--El Capitan Precious Metals, Inc. (OTCBB:ECPN - News) reports: Chuck Mottley, the Company's President and CEO, announced today that the Company is contracting to have at least six holes drilled in the anomalies located to the East and West of the El Capitan property. These anomalies are within the three square mile area (approximately 1,900 acres) designated for further exploration by the Company's geologist, Dr. Clyde Smith. Dr. Smith had surface samples from this area assayed which showed similar mineralization as that on the approximately 200 acre El Capitan property.
In addition, drilling will begin to the west of the El Capitan property in an attempt to locate the Western boundary of the mineralization.
This project will not delay the expected reports from Dr. Smith as he receives the data from the metallurgists and assayers nor will it delay the marketing of the El Capitan property.
Dr. Smith stated: "Based on the geologic interpretation of drill cuttings from holes drilled along the west side of the El Capitan deposit, the deposit remains open in that direction. As previously recommended, at least one hole should be drilled in this direction, and more if the geology continues to remain open.
"In addition, and also further to my earlier recommendations, at least two and three holes, respectively, should be drilled to test hyperspectral anomaly locations which are approximately one mile to the west-southwest and to the east-southeast of the El Capitan deposit. Significant fusion assay results from outcropping mineralization (surface samples) showed results similar to those in the El Capitan deposit and provide drill targets at these locations."
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. property located near Kingman, Arizona. In addition, the Company owns contractual rights to the Weaver property 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 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.
Contact:
El Capitan Precious Metals, Inc.
James G. Ricketts or Ron Perkins, 480-607-7093
www.elcapitanpmi.com
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Source: El Capitan Precious Metals, Inc.