Planet Resource Recovery Completes Evaluation of El Capitan Precious Metals' Ore Samples With Positive Results on Over 100 Sampl
April 06 2010 - 7:00AM
Marketwired
Planet Resource Recovery, Inc. (PLANET) (PINKSHEETS: PRRY),
developer, manufacturer and marketer of PetroLuxus™ and other
"Green" technologies for the remediation and recovery of the
planet's resources, is pleased to announce the evaluation and
testing of head ore samples provided by El Capitan Precious Metals,
Inc. (OTCBB: ECPN) has been completed. Analysis show concentrations
of precious metals that can be recovered with PLANET's new mining
techniques and technologies developed for the El Capitan property.
On June 29, 2009, PLANET and El Capitan executed a Memo of
Understanding for a proposed venture between the entities for the
exploration, development and production of base and precious
metals, including Gold and Silver, from the 7000 acre El Capitan
property located in New Mexico. Pursuant to this announcement, El
Capitan Precious Metals submitted 100 pounds of head ore samples
from a 200 acre site portion of the complete property for
evaluation and analysis of metal content of target metals. This
portion of the El Capitan property has an estimated 141 million
tons of mineable metals and ore.
PLANET's analysis of samples provided were conducted on a
state-of-the-art ICP (Inductively Coupled Plasma) Mass
Spectroscopy. Over 100 tests were performed on samples to determine
an average. Precious metals recorded in testing samples included:
Gold, Platinum, Silver, Rhodium, Palladium, Osmium, Irridium and
Ruthenium. These precious metals averaged .335 ounces of Gold
Equivalent per ton. Base metals also present include iron (65% -
68%), copper and zinc.
PLANET's NEW MINING TECHONOLOGY Throughout the evaluation and
testing period, PLANET's scientific staff developed a new proof of
concept consisting of a multiple step process using current
state-of-the-art mining technologies and the development of new
techniques. The basic philosophy of PLANET's approach is recovery
of all species of metals, rendering revenues streams through the
removal of metals and nonmetals that are in the greatest
concentrations within the ore leaving a lesser volume of material
at higher concentrations of the target metals.
At the El Capitan site the majority of the ore is iron, on the
order of 65% to 68%. After the iron is stripped off, the next
sequestration of metals include copper and zinc. Once these have
been removed, the balance of the ore contains the targeted precious
metals identified above. This ore is processed with PLANET's
Selective Electro-winning process and MicroProcessor Control System
-- proprietary processes developed by PLANET to balance the
chemistries and temperatures for the extraction and separation of
the targeted precious metals. PLANET is currently in the process of
crafting the abstracts for these new technologies for Patent
application submittal. Upon submittal PLANET will issue additional
data on these technologies.
PLANET and El Capitan will continue to work closely together to
establish the joint venture to bring these technologies to
commercialization and recover the vast amounts of precious metals
located at the El Capitan site in New Mexico.
About Planet Resource Recovery, Inc.
Houston, Texas-based Planet Resource Recovery, Inc. is the
developer, manufacturer, and marketer of unique, environmentally
friendly proprietary chemical compounds and processes that will
usher in a new paradigm shift in industry. The company is primarily
focused on three distinct sectors: 1) Oil & Gas Industry with
PetroLuxus™, 2) Remediation of mining toxic byproducts and 3)
mining of base and precious metals. The company has developed
multi-dimensional compounds and their related processes,
technologies and methodologies to provide these sectors enhanced
benefits and revenue opportunities. For more information visit:
www.planetresource.com or www.petroluxus.com.
Safe Harbor Statement Certain statements in this release are
"forward-looking" statements as defined in the Private Securities
Litigation Reform Act of 1995. Such statements are subject to
numerous risks and uncertainties. Actual results may vary
significantly from the results expressed or implied in such
statements. Factors that could cause actual results to materially
differ from forward-looking statements include, but are not limited
to, the Company's ability to meet the terms and conditions required
to obtain its project financing, risks and delays associated with
product development, risk of market acceptance of new products,
risk of technology or product obsolescence, competitive risks,
reliance on development partners and the need for additional
capital. PLANET takes no obligation to update or correct
forward-looking statements, and also takes no obligation to update
or correct information prepared by third parties that are not paid
for by PLANET.
Media Contact: Rod Mitchell 281-350-5506 Mediarod@aol.com A.S.
Austin Company 858-537-7439 PRRY@asaustinco.com
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