CHLORIDE, Ariz., Jan. 18, 2012 (GLOBE NEWSWIRE) — Hondo Minerals Corporation (OTCBB:HMNC.OB) today announced assay results from recently poured doré bars. Accordingly, these early test results indicate gold content was at or above the company’s previously projected range for commercial production of 1 ounce of gold per ton of tailings processed.
Bill Miertschin, Chairman and CEO said, “We are pleased and encouraged by the early results indicating our estimated gold content. We are encouraged that there are commercial quantities of precious metals in the tailings pile, and that the company has the ability to efficiently extract them.”
In recent weeks, the company has completed the commercial processing facility, proven the efficiency of the proprietary eLeach process, and found gold in the range of previous estimates. The company will continue to test these first doré bars for additional precious metals, in order to both better characterize the tailings pile, and to fine-tune its extraction process.
Bill went on to say, “I want to say thank you to all of the employees of Hondo Minerals for their hard work and dedication to make this possible for our company and its shareholders.”
This first sample testing was aimed specifically for gold content, and is the culmination of several milestones already reached in the first quarter of 2012.
Initial testing for the sample materials was completed with industry leading instrumentation including the Thermo Scientific iCAP 6300 ICP mass spectrometer and the Oxford Instruments X-8000 XRF Laboratory analyzer.
The ICP or Inductively Coupled Plasma Optical Emission Spectrometer is well established, multi-element analyzer that is currently trained to read 71 elements as low as parts per billion.
The XRF or X-ray Fluorescence works by exposing samples to a beam of X-rays. The atoms of the sample absorb the energy and become temporarily excited. In turn the excited sample emits secondary X-rays with each element emitting unique energy. The tool measures the intensity of the emitted X-rays and provides reliable qualitative and quantitative results.
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 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. These results may not indicative of the result achieved in the entire tailings pile do to the non-homogenous nature of the pile itself. 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
CONTACT: Investor Relations:
Scott S. Arnold
Senior Vice President
+1 (310) 954-1107