El Capitan: Newly Acquired Assay Shows Gold and Silver Values
El Capitan Precious Metals, Inc. reports In February ECPN’s previous management authorized a commercial lab to conduct two 1 kilogram cyanide assay tests comprised of material from two composite samples from the El Capitan Deposit. This test procedure as performed is comparable to the procedure announced in our December 10, 2008 press release.
The Company just received the results from these additional assay tests, completed this month, which represent recoverable values using standard extraction techniques. The values indicated average gold grades of .032 ounces per ton and 1.25 ounces per ton for silver. This equates to an average gold equivalent of .05 ounces per ton. These gold values are similar to the December values reported. The Canadian lab that did the tests in December did not test for silver.
It has been determined that the low gold only assay results that were reported in February of this year came from an entirely different assay procedure and therefore are not comparable to the December 2008 or the May 2009 tests.
Gold and Minerals, who owns 60% of the El Capitan property, has been working independently of El Capitan for some time on a possible extraction process. This research is ongoing and is aimed at developing an extraction process which eliminates complications created by the high content of iron in this complex ore.
