Mining Operations to Commence at El Capitan Site in New Mexico
July 29 2014 - 7:15AM
Business Wire
Anticipated Sales of Tailings and Iron Ore
Herald the Company’s Transition from Exploration to Mining
Operations
El Capitan Precious Metals, Inc. (OTCBB: ECPN) announced today
that it has successfully completed the assembly and testing of the
AuraSource Heavy Metals Separation System at the New Mexico mine
site. When mining operations commence, the sale of the tailings
will mark the Company’s transition from an exploration company to
an operating mining company.
The Company also reported that it is in active negotiations with
a buyer for the tailings—the precious-metals-rich concentrates—that
are created when ore is processed via the Heavy Metals Separation
System. Once a new contract is in place for the sale of the
precious-metals concentrates, and coupled with the existing
contract for the sale of iron ore, El Capitan will have established
itself as a sustainable and profitable mining company.
ECPN Board Chairman John F. Stapleton stated, “These are
exciting times for the Company and its shareholders as we complete
significant steps in our strategic plan.”
Stapleton confirmed that the Company is in the final stages of
obtaining its amended and expanded mining operations permits from
the state of New Mexico.
Chuck Mottley, El Capitan President and CEO, added, “These new
and positive activities at the El Capitan site make a huge
statement in terms of the asset value of the El Capitan property
and it is gratifying to see a very bright light, at long last, at
the end of a tunnel that represents decades of exploration,
testing, and development of initial mining operations on behalf of
our shareholders.”
As announced earlier this month, the Annual Meeting of the El
Capitan Shareholders will be held on September 25, 2014 in
Scottsdale, Arizona.
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. 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.
El Capitan Precious Metals, Inc.John Stapleton, 480-440-1449
El Capitan Precious Metals (CE) (USOTC:ECPN)
Historical Stock Chart
From Oct 2024 to Nov 2024
El Capitan Precious Metals (CE) (USOTC:ECPN)
Historical Stock Chart
From Nov 2023 to Nov 2024
