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PRRY Planet Resource Recovery Inc (PK)

0.0002
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Planet Resource Recovery Inc (PK) USOTC:PRRY OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0002 0.0002 0.004 0.00 01:00:00

Planet Resource Recovery Completes Evaluation of El Capitan Precious Metals' Ore Samples With Positive Results on Over 100 Sampl

06/04/2010 1:00pm

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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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