El Capitan Precious Metals, Inc. Announces Initial Results of Ultra- Concentration
SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- El Capitan Precious Metals, Inc. (OTC/BB: ECPN) announced today that the Company has completed a series of tests in Houston, Texas on ultra-concentrated ore procured from 180 tons of material previously concentrated at the El Capitan property, These tests range from 1 pound to 700 pounds of head ore and concentrates.
Chuck Mottley, EPCN CEO, stated: "The results, demonstrated by assay, are as good or better than the previously reported 1.2 OPT gold equivalent achieved in the dore bar sold to Gannon and Scott."
With the confidence gained from these test runs, it was decided to upgrade the concentration equipment. That equipment upgrade is scheduled to be completed the week of the November 22nd, with production runs commencing immediately thereafter on the concentrates.
The process is expected to run at 2.5 tons per hour and the production on the 180 tons should be complete by the week of November 5th. The "ultra-concentrated" material will be shipped daily to an independent lab for smelting with samples being forwarded to another independent laboratory for assay.
Details of the production runs, including smelt samples and video of the process, will be displayed at the Shareholder's Informational Meeting in November.
A successful production run will demonstrate a lower-cost method of concentration with less material being presented to the Sundancer Method for smelting. This process is environmentally attractive since it does not require water or chemicals. This cost reduction will improve the overall attractiveness or the property.
John F. Stapleton, Chairman of the El Capitan Precious Metals, Inc. Board of Directors, emphasized: "As attractive as this initiative is, it is not in the critical path of selling the property and is not slowing the marketing efforts being conducted."
About El Capitan Precious Metals, Inc.:
El Capitan Precious Metals, Inc. is an exploration stage precious minerals company based in Scottsdale, Arizona that is principally engaged in the exploration of precious metals and other minerals. The Company's primary asset is its wholly owned subsidiary El Capitan, Ltd., an Arizona corporation, which holds the 100% equity interest in the El Capitan property located near Capitan, New Mexico.
Forward-Looking Safe Harbor Statement:
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. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will," "may," "anticipate(s)" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding the expected completion, timing and 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 expectations with respect to the engaging in strategic transactions. All of such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Specifically, there can be no assurance regarding the timing and terms of any transaction involving the Company or its El Capitan property, or that such a transaction will be completed at all. In addition, there can be no assurance that periodic updates to the Company's geological technical reports will support the Company's prior claims regarding the metallurgical value and make-up of the ore on the New Mexico property. Additional risks and uncertainties affecting the Company include, but are not limited to, the possibility that future exploration, development, testing 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 products; fluctuations in world market prices for the Company's products; the Company's ability to obtain and maintain regulatory approvals; the Company's ability to obtain financing for continued operations and/or the commencement of mining activities on satisfactory terms; the Company's ability to enter into and meet all the conditions to consummate 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. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
TEN Associates, LLC
Tom Nelson, 480-232-5469
KEYWORDS: United States North America Arizona Texas
The article El Capitan Precious Metals, Inc. Announces Initial Results of Ultra- Concentration originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.