Hondo Minerals Meets Tennessee Mine Production Deadline
CHLORIDE, AZ, May 31, 2011 /PRNewswire/ - As an update, Hondo Minerals Corporation (OTC:BB HMNC), is pleased to announce that, as planned, it has completed the operation to produce ionized water which is the critical substance needed for the extraction of minerals as required by our process.
The ionized water will be produced in a nearby offsite to be stored and available for immediate use following the anticipated Mining Safety and Health Administration (MSHA) training, inspection and site review at the Tennessee Mine. The full mineral extraction process onsite will begin immediately following the MSHA regulatory and safety training certification.
William R. Miertschin Chairman and CEO of Hondo Minerals says, "With machinery in place to load and crush our tailings and electric generation to power our processing equipment, we await regulatory inspections for final approvals for our site and facilities."
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.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV