HOLBROOK, N.Y., Nov. 5, 2012 /PRNewswire/ -- Previously, Rhino Human Resources, Inc. (IFHR.PK) announced it had signed a non-binding Memorandum of Understanding (MOU) with MINERA SILVERADO, S.R.L., regarding a potential joint venture to develop the mineral rich Santa Rita Tres Property in Peru. Today, the Company released supplementary information regarding the property.
"Santa Rita Tres concession has 300 hectares located near the Village of Los Libertadores, in the District of Tambo, Province of Huaytara and Department of Huancavelica in Peru," indicated Rhino CEO, Ray Barton. "The Santa Rita Tres concession is only the first portion of a larger collective 1400 hectare group of concessions we anticipate to develop through this joint venture; what is particularly encouraging is that the concession is located in a heavily mineralized region of Peru. Compania de Minas Buenaventura S.A.A, one of the country's major gold producers, has been operating in this region for several years which further affirms the potential of the proposed joint venture," Barton added.
The nearby 600 hectare Concession Angela BVN, located in the same district of Tambo as Santa Rita Tres, and is owned by Compania de Minas Buenaventura S.A.A. which is a publicly traded company on NYSE stock exchange; Concession Maraysirita, which owns 800 hectares, belongs to Fernando Belaunde Aurey, the son of former two-term Peruvian President Fernando Belaunde Terry. "Obviously, we are in very good company with all of these well established companies and their influential principals," remarked CEO Barton.
Data from the Saint Martin concession which shares the same mineral vein as Santa Rita Tres, reveals that the average metals found in sampling has been 7.49 grams of gold per ton, 409.71 grams of silver, .9 grams of copper, .4 grams of zinc and .29 grams of lead. The estimated reserves of Saint Martin are 2,141,100 metric tons of potential mineral reserves with an approximate value of 1.5 billion USD. **Initial analysis estimates that the vein structure through the Santa Rita Tres concession could be larger than it is on the San Martin concession.
"We are obviously delighted that Victor Raul Elarde Garcia, president of MINERA SILVERADO, S.R.L. is heading up the Peruvian operations of the joint venture," said Barton. "His professional experience and expertise in all facets of engineering, mining, governmental relations is without peer. It would literally take several pages to provide his remarkable background and career."
Barton said the Company will continue to provide background and progress updates on the joint venture and its properties.
ABOUT RHINO HUMAN RESOURCES
Rhino Human Resources, previously INFE Human Resources, operates a wholly owned subsidiary, LoneStaffing, Inc. that consults businesses and helps them recruit commission only sales reps. recently, management has decided to seek out a merger candidate in an emerging market to take the company to a higher level.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it.
Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
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SOURCE Rhino Human Resources, Inc.