CHLORIDE, AZ, May 16 /PRNewswire/ - Hondo Minerals Corporation (OTCBB: HMNC), announces that it is still on course and on schedule for initial production at the Tennessee Mine in Chloride, Arizona.
William R. Miertschin, Chairman and CEO of Hondo Minerals said "Through financial commitment, hard work, and long hours it is with great excitement that we see our operations nearing production. Being on time and on budget is a high priority to our company, and I am very impressed with the efforts and commitment of our operational team."
The initial processing facility is anticipated to begin operations by month end. Once complete, the Tennessee Mine processing facility will recover gold, silver, zinc, and other metals. It is estimated that the daily processing capabilities will commence at 10-20 tons per day and increase to 150 tons per day during late 2011 and 350 tons daily in 2012 as the newly acquired equipment becomes operational.
"Transitioning to operational production has been a tremendous experience and to now be about two weeks from production on this property is exciting for the company and its shareholders." said Miertschin.Hondo's initial independent testing has indicated the Tennessee Mine tailings and dumps could produce an average of 1 oz. to 3 oz. of gold and about 30 oz. or more of silver per ton using our exclusive environmentally friendly technology. At the Tennessee Mine there are approximately a million tons of metal rich tailings and dump material. About The Company Hondo 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