CHLORIDE, AZ, April 8 /PRNewswire/ - As an update, Hondo Minerals Corporation (OTCBB: HMNC), is pleased to announce the completion of the Superstructure for its Processing Facility at the Tennessee Mine.
With the completion of the superstructure, Hondo is now entering the final phase of the construction process of the metal building that will house the processing and extraction equipment. Hondo has begun finishing the interior construction which will allow for the installation and placement of the processing equipment.
"I would like to thank the crews that have been working hard on the completion of this building. Because of their effort I am pleased to announce we are on time, on schedule, and under budget. Most importantly this brings us one step closer to achieving our company goal of production. "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.
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.
SOURCE Hondo Minerals Corporation