Mining Operations Move to New Phase as El Capitan Precious Metals Stockpiles Reserves and Focuses on Precious Metals Extraction
El Capitan Precious Metals Inc. (OTCQB: ECPN) announced today that it has mined and processed sufficient quantities of ore at the mine site to meet the needs for the next year and is moving into its next phase of operations. This decision is based upon its operations plan requirements for concentrated ore, extracted from head ore. The Company and its partner, Logistica, are now focused on extraction of precious metals.
According to Board Chairman John F. Stapleton, the Company has been working with state and federal governmental agencies to resolve any remaining regulatory issues related to right of access to the mine. To date, there has been sufficient resolution on this front and there is no impediment to the Company’s operating plan. In addition, reported Stapleton, a new proposal is being developed “to resolve all issues related to right of access once and for all.”
Logistica is in the process of establishing a laboratory to demonstrate precious metals recovery to interested parties and support the Company's position that it can consistently recover precious metals from its ultra-fine concentrates. This technology will also support a pilot plant to generate initial cash flow.
The Company continues to work through Logistica and other potential partners to augment methods of extraction to accelerate short-term precious metals production. It is the intention that these activities will form the basis for the financial stability of the Company until full-scale commercial production begins. Stapleton reports that these efforts are also progressing well.
The significance of current activities has generated initial discussions with large potential joint-venture parties that would and could, immediately, take the Company’s current operations to a much larger scale. According to Stapleton, these ongoing discussions have been very positive, demonstrate notable interest, and give the Company optimism for its near future.
At this time El Capitan is focused on its precious metals recovery process, as that has generated not only significant interest from large potential partners, but acquisition interest as well. The Company anticipates a significant announcement to shareholders at its Annual Shareholders’ Meeting set for September 28, 2016, in Ruidoso, New Mexico, which will include a visit to the El Capitan mine site.
About El Capitan Precious Metals, Inc.:
El Capitan Precious Metals Inc. is a mining company based in Scottsdale, Arizona that is principally engaged in the mining 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. www.elcapitanpmi.com
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.
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Contact
El Capitan Precious Metals Inc.
John F Stapleton, 480-440-1449
