El Capitan Precious Metals, Inc. (OTCBB:ECPN) reports that ongoing efforts to identify an assay technique easily adoptable by the industry’s leading commercial laboratories has not significantly progressed over the past several months. Both lead and nickel sulfide precious metal collection processes continue to show encouraging results. However, those results have not proven to be consistently repeatable when applied to the same sample over time. Current work has been expanded to investigate the possible negative assay effects of surface “aging” on fine-ground assay sample surfaces.
Simultaneously, discussions with other independent laboratories have identified an opportunity to pursue alternative assay and extraction protocols which have shown success with other complex mineral deposits. This parallel path of demonstrating commercial in-ground and extractable value will be pursued by ECPN over the coming months.
Ken Pavlich, President and C.E.O., stated, “We have continued to build our base of knowledge concerning the metallurgical nature of this exciting resource, although we are occasionally frustrated with the pace of that effort. We believe that by expanding the scope of our metallurgical investigations at this time, we will more quickly achieve the value confirmation that we continue to expect.”
The Company also reports that the Plan of Operation for further exploration drilling on the El Capitan project claim block is in the final stages of administrative completeness review. According to United States Forest Service personnel, classification as administratively complete signals the official beginning of the National Environmental Policy Act’s (NEPA) Environmental Assessment process. USFS personnel have recently indicated that the process will take up to 12 months to complete.
Mr. Pavlich noted, “While the permitting period is somewhat longer than originally expected, it does not place the effort onto the critical path of the deposit’s development. Until the metallurgical assay and extraction processes are finalized, additional drilling expenditures would not result in the expansion of the Company’s resource base or reserve opportunity.”
The permit application process has attracted the attention of various local and national groups who have voiced their opposition to any mining activity on public or private lands. Such opposition is not uncommon, and ECPN has engaged experienced community, legal, and environmental representatives to insure that all interaction with regulatory agencies and local government groups is appropriately and professionally handled throughout this process.
About El Capitan Precious Metals, Inc.
El Capitan Precious Metals, Inc. is a U.S. based mineral exploration company whose primary asset is a 40% interest in the El Capitan precious metals project, located in Lincoln County, New Mexico. The Company’s stock trades on the Over-the-Counter Bulletin Board under the symbol ECPN.
Forward-Looking Statements
Statements herein which are not historical facts, such as estimates of the volume and grade of mineral deposits, future production levels, exploration results and plans, costs, and prices are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price and production volatility, exploration risks and results, discrepancies between different types of testing methods, some or all of which may not be industry standard, political risks, permitting risks, project development risks and ability to raise financing. For a more detailed discussion of risks and other factors that may impact these forward looking statements please refer to the Risk Factors and other discussion contained in the Company's quarterly and annual periodic reports on Forms 10-QSB and 10-KSB on file with the SEC. The Company undertakes no obligation and has no intention of updating forward-looking statements.
For further information, please visit the company’s website at www.ElCapitanPMi.com.
El Capitan Precious Metals, Inc.
Ken Pavlich, 775-201-0168
info@ElCapitanPMi.com
www.ElCapitanPMi.com