For Immediate Release
July 19, 2016
For Further Information, contact:
John F Stapleton | 480-440-1449
MINING OPERATIONS MOVE TO NEW PHASE
AS EL CAPITAN PRECIOUS METALS STOCKPILES RESERVES
AND FOCUSES ON PRECIOUS METALS EXTRACTION
Scottsdale, Arizona – 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.
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