Planet Resource Recovery, Inc. and El Capitan Precious Metals, Inc. Execute Memorandum for 7000 Acre "Enhanced Mining" Project i
June 29 2009 - 7:00AM
Marketwired
Planet Resource Recovery, Inc. (PLANET) (PINKSHEETS: PRRY) ("the
Company"), developer, manufacturer and marketer of the
PetroLuxus(TM) family of remediation and recovery technologies,
announced today that the Company has entered into a Memorandum of
Understanding with Gold and Minerals Company, Inc., and El Capitan
Precious Metals, Inc., (OTCBB: ECPN), (collectively, "El Capitan").
The proposed venture is 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.
Planet President Rick Burton discussed the value of the
collaboration between the two firms: "PetroLuxus(TM) is our
breakthrough technology that we expect to revolutionize the way
metals and minerals are managed and recovered. El Capitan controls
what is believed to be one of the largest and most mineral-rich
properties in the western US. This is an excellent opportunity for
both companies to maximize their core resources. What we refer to
as 'Enhanced Mining' has been a key focus for our company and we
believe the application of our products will produce unparalleled
yields on a large scale commercial basis."
Sample material from the El Capitan site, in addition to assay
reports, are currently being evaluated in Planet's laboratory.
After the successful evaluation of the material and assays, Planet
and El Capitan will engage a contractor miner and industrial
capacity equipment for processing. While no date has yet been
confirmed to begin field application, both companies expect
required permitting and operations to proceed rapidly.
El Capitan Chief Executive Officer Chuck Mottley stated, "Our
property has a history that dates back to the 1940s and according
to our extensive assays, millions of tons of this measured resource
are readily available. By utilizing the breakthrough technology of
Planet, we believe that we can enhance the quality, yield and
efficiency of our production. I have been involved in mining for
over 40 years and in my opinion, PetroLuxus(TM) could substantially
impact the industry around the world."
About El Capitan Precious Metals, Inc.
El Capitan, headquartered in Scottsdale, Arizona, engages in the
exploration of base, precious metals and other minerals in the
southwestern United States. The company owns and controls an
interest in the El Capitan property situated near the town of
Capitan, which is located in southwest New Mexico.
For further information, please visit the El Capitan website:
www.ElCapitanPMi.com.
About Planet Resource Recovery, Inc.
Planet Resource Recovery, Inc. (the "Company") has developed a
proprietary platform of products based on a core technology known
as PetroLuxus(TM). The Company manufactures and markets the
PetroLuxus(TM) platform of products, which are truly a disruptive
technology. The products will be widely used for environmentally
friendly remediation, enhanced mining and oil and gas production.
The products are comprised of a series of compounds with a wide
array of applications, including the unique ability to dislodge
hydrocarbons from organic and inorganic materials and the ability
to separate and harvest both base and precious metals.
PetroLuxus(TM) redefines the term "Green Technology" and the
products are non-toxic, non-flammable and environmentally friendly.
The science behind the platform of products enhances the separation
and recovery hydrocarbons and metals from both man-made and
naturally occurring materials. We believe our products will disrupt
currently accepted best practices and ultimately change the way
hydrocarbons and metals are managed and harvested. Founded in 2005,
the Planet corporate offices are located in Houston, Texas.
For further information, please visit the Planet website:
www.planetresource.com
Safe Harbor Statement - Planet Resource Recovery, Inc.
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.
Company Contact: Carol Ackerman or Sabrena Peterson 480-629-4833
Email Contact or Email Contact Media Contact: Rod Mitchell
281-350-5506 Email Contact
Planet Resource Recovery (PK) (USOTC:PRRY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Planet Resource Recovery (PK) (USOTC:PRRY)
Historical Stock Chart
From Jul 2023 to Jul 2024