CHLORIDE, AZ, April 14 /PRNewswire/ - As an update, Hondo Minerals Corporation (OTCBB: HMNC), is pleased to announce the expansion of its operational infrastructure in preparation for the opening of the processing facility at the Tennessee mine.
Hondo has expanded its operational infrastructure with the addition of support vehicles, multiple pieces of earth moving equipment, a self contained assay and research lab, and a crush plant in preparation for initial ore processing and revenue production next month. In addition, Hondo also began preparations for the arrival of the generator that will supply power to the facility and provide ample power for expansion of operations in the future.
"I am pleased with the progress at site, and to be able to report that the project is moving ahead as expected. We now have most of the necessary equipment to begin processing as we complete the final stages of construction in preparation for the initial stage of operation," Says William R. Miertschin, Chairman and CEO of Hondo Minerals.
The processing facility is anticipated to open this May. 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 50 tons per day during late 2011, 200 tons daily in 2012 and 300 tons daily in 2013.
The company expects to provide additional updates on the progress of the Tennessee Mine Processing Facility in the near term.
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