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June 27, 2011 /PRNewswire/ - Hondo Minerals Corporation (OTCBB: HMNC) announces that its employees at the Tennessee Mine site at
Chloride, Arizona, completed the Mining Safety and Health Administration (MSHA) training requirements last week, and the
Arizona Department of Mines has scheduled an inspection and site review at the Tennessee Mine this week. Then after State approval, MSHA must make final inspections and certify our mining plan before actual processing can begin.
William R. Miertschin, Chairman and CEO of Hondo Minerals said "Also, last week we continued to move more processing equipment onto the site from the storage yard. This additional equipment will allow us to process and test more effiiciently. While we wanted to be processing by now, the extra time prior to processing allowed us to further improve our facilities. Now we will not have to be moving equipment as we begin production testing which has advantages."
Our initial processing facility is anticipated to begin operations once all regulatory approvals are received. 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.
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 Hondo Minerals Hondo Minerals Corporation is engaged in the acquisition of mines, mining claims and mining real estate in
the United States,
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.
Cautionary Note Regarding Forward-Looking Statements 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. For more information please visit
SOURCE Hondo Minerals Corporation