SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTCBB:ECPN) reports: Last week the Geological Consultant for ECPN, Clyde L. Smith, Ph.D., P.Eng., gave a verbal report to the Company’s Board of Directors. The report was put on video and may be viewed on the Company website: www.elcapitanpmi.com. In addition there is a 3-D Animated view of the El Capitan Gold-Silver project also on the website.
A summary of the pertinent parts of the report are:
Dr. Smith summarized by saying, “Based on currently available assay results, the El Capitan property in New Mexico has a very significant resource potentially producible at today’s metal prices and has a considerable upside opportunity in terms of exploration and discovery of additional deposits.”
He discussed the determination that based on assay results from Auric Metallurgical Laboratory on over 12,000 feet of diamond drill core and reverse circulation drill cuttings completed in 2005-6, the El Capitan deposit has a measured resource of 141 million tons. The resource calculation was conducted at GemCon Software International, an internationally recognized software company providing services to the mining industry.
Dr. Smith reviewed a reflected light and electron microscope study conducted in 1996 at the Missouri Bureau of Mines, a nationally recognized lab, that indicated the presence of gold as well as a platinum-bearing mineral on the El Capitan property.
Dr. Smith also reviewed the regional geological setting of the El Capitan deposit within the state of New Mexico and noted that El Capitan is one of 16 significant gold prospects and past producers situated within a north-south-trending belt of over 300 miles in length.
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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, 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. The Company disclaims any obligation to update its forward-looking statements.