CHLORIDE, AZ, Nov. 13, 2012 /CNW/ - Hondo Minerals Corporation (OTCBB: HMNC) today announces that the Company has enlisted the expertise and mining related talents of Maiden Resources, Inc. from the Coeur d'Alene Mining District of North Idaho.
The Coeur d'Alene Mining District is known for its rich silver, lead and zinc deposits and an enormous amount of these minerals have been extracted in the area for more than one hundred years. Maiden Resources brings decades of experience in assaying, processing, permitting, regulatory and safety matters in both underground and open pit mining operations to Hondo's team, Maiden will aid Hondo in professionally evaluating the old Tennessee Mine with the idea of exploring its underground ore reserves for possible mining ventures.
Tim Cushman, Bob Flinders and Lee Haynes of Maiden Resources were on site and commented on the similarities between the Tennessee Mine and the mines of the Coeur d'Alene Mining District. In a recent visit, preliminary sampling of identified ore exposures were conducted with promising results. The results are showing good numbers and should justify a more extensive exploration of the possible ore reserves left in the ground. Hondo and Maiden will be discussing these possibilities in the coming weeks and will keep the public informed as results develop.
As Hondo Minerals has continued to make the transition from primarily mining construction operations to ore processing operations in the past several months, the most recent 2-3 weeks have been ones of decisive and substantial changes in our operations at the Chloride/Tennessee Mine facilities.
The contract of the Operations Manager of the past 2.5 year and the related management company, Advanced Natural Technology Services, Inc., was not renewed.
As stated above, Hondo has now retained Maiden Resources, Inc., (www.maidenresources.com) as professional mining and processing consultants. With Maiden's support, Hondo has hired a professional mining industry manager with extensive laboratory and assay experience as well as ore processing and mining managerial experience.
Bill Miertschin, CEO of Hondo Minerals says, "We are currently evaluating our operations and resources as to efficiency from both processing and financial perspectives. Of course, we remain focused on our ELeach and RenoCell processes and how to increase their effectiveness." Mr. Miertschin continues to say, " We are focused on increasing the professionalism and technical skills of our staff. Hondo Minerals strives to increase shareholder value by maximizing our resources."
About Hondo Minerals
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 operated from the late 1800s until 1947 producing lead, zinc, gold and silver. The Company also owns numerous other mining claims in the U.S. Southwest.
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-K and 10-Q. 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
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