CHLORIDE, AZ, May 4 /PRNewswire/ - As an update, Hondo Minerals Corporation (OTC:BB HMNC), is pleased to announce it has found a surface vein that runs along the Tennessee and Schuylkill properties. The preliminary measurement show that the vein is anywhere between 10 and 28 feet wide and runs approximately a half of a mile long. Based on the on the new discovery the company has taken samples and is awaiting the test results.
Bill Miertschin, President and CEO of Hondo Minerals stated, "As we expand this property through exploration and further development we believe will continue to come across new finds. A vein of this magnitude should generate significant revenues for our company." Mr. Miertschin adds,"We know our property has highly mineralized tailings. We anticipated that we could retrieve additional minerals from this historical mine, but to now discover a vein of this size is quite exciting for the company and its shareholders. "
The Tennessee Mine was the largest producer of silver in Arizona mining history and produced substantial amounts of Gold. The company is on track to commence initial production of its existing reserves at Tennessee Mine by May 30th 2011.
About The CompanyHondo Minerals Corporation is engaged in the acquisition of mines, mining claims and mining real estate in the United States, Canada and Mexico with mineral reserves of precious metals or non-ferrous metals. Hondo owns the Tennessee and Schuylkill Mines in Chloride, Arizona. The Tennessee Mine was the largest producing silver mine in Arizona history. The Tennessee Mine operated from the late 1800's until 1947 producing lead, zinc, gold and silver. The Company also owns numerous other mining claims in the US Southwest, which are being evaluated for additional reserves. This press release contains forward-looking statements that involve risks and uncertainties, including the Company's beliefs about its business prospects and future results of operations. Some factors that could cause actual results to differ materially include economic and operational risks, changes in anticipated earnings, continuation of current contracts, and other factors detailed in the Company's filings with the Securities and Exchange Commission, including its most recent Forms 10-KSB and 10-QSB. The Company forecasts provided above are dynamic and therefore refer only to this release date. The Company does not undertake to update any forecasts that it may make available to the investing public. Please visit www.Hondominerals.com SOURCE Hondo Minerals Corporation
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV