SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- Chuck Mottley, President and CEO of El Capitan Precious Metals, Inc. (OTCBB:ECPN.ob - News), has sent the following letter to shareholders:
For the past eight months El Capitan Precious Metals, Inc. has been conducting extensive metallurgical activities on the head ore of the Company’s New Mexico property. These activities have involved a number of companies: Copper State Analytical Lab, Inc., Planet Resource Recovery, Inc. and Arrakis Inc.
Arrakis is now working with our metallurgical research team in Denver. Preliminary reports from the team are very encouraging. In addition to their experience in dealing with micro-cluster and nano-technology, Arrakis has demonstrated the ability to analyze and recover the platinum group metals.
Based on this information the Company has appointed Arrakis to analyze the 230 core samples (all kept in chain of custody) from the previous drilling project. Along with these samples there will be blanks analyzed as well to confirm their results.
Arrakis is a well respected company within the industry. You may obtain more detailed information about Arrakis on their web site at www.arrakisinc.com.
The completion of this analysis will provide confirmation of values and methods of recovery as well as determine the cost of recovery. With this information the Company can provide an Investment Bank with the final information necessary to proceed in marketing the property.
For the first time in many years it is my belief that we have found the right team of experts who are solving the metallurgical issues and allow us to confirm the values and the ability to recover the precious metals of the El Capitan property.
About El Capitan Precious Metals, Inc. El Capitan Precious Metals, Inc. is completing a merger which will provide the Company with 100% interest in the El Capitan property located near Capitan, New Mexico as well as a joint venture and 20% ownership of 13 mining claims and other assets known as the C.O.D. mine located near Kingman, Arizona...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 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 iron ore and other products; fluctuations in world market prices for the Company’s products; the Company’s ability to obtain or maintain regulatory approvals; the Company’s ability to obtain financing for the commencement of mining activities on satisfactory terms; the Company’s ability to obtain necessary financing; the Company’s ability to enter into and meet all the conditions to close 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