El Capitan Precious Metals feels they are sitting on one of the biggest undeveloped surface-mineable precious metals deposits in the continental US. The report today by President and CEO of ECPN, Chuck Mottley, that silver inquart testing results from the CSAL (Copper State Analytical Lab) on the El Capitain property in New Mexico, are in and show strong indications for underwriting the extant profile, provides further confirmation of this perspective.
The data indicates significant values that fall well within the spectrum reported previously in 2011 by Gannon & Scott (G&S), who are well known throughout North America for their for their state-of-the-art refining/assaying services. Contract smelting of a dore bar, purchased and tested by G&S, generated results released by the Company back in April.
Mottley was pleased to relay that the Copper State report shows values that are “higher than the previous silver inquart test results of 41 ounces of silver per ton”, noting the significance of the carbon pre-roast smelt utilized. Mottley explained that this data further validates the economic potential of the some 7k-acre El Capitan property.
The Copper State report was performed on 20 pounds of gravity separation-produced concentrate (10:1 head ratio of ore to concentrate) from the property and impinges directly on the 141M tons of measured resource reported thus far. Roughly 13k feet of successful reverse circulation drilling within a targeted 200-acre resource block has shown gold, silver and platinum group metals.
These announcements follow fast on the heels of the annual ECPN stockholders’ meeting, where management confirmed marked progress towards completion of the three major milestone achievements in its stated strategic plan for the site, a plan expected to culminate in the sale of the El Capitan property.
The three key milestones are:
• Establish head ore value via completed assays
• Validate cost structure of and determine viable recovery methods
• Retain an investment banker to handle the property’s sale
The Company is hard at work bringing the project to fruition and intends to release another report on operations very soon. For more information on the Company and to stay up to date on the latest news, please visit the ECPN website at: www.elcapitanpmi.com