Hondo Minerals Corp., a company engaged in the acquisition of mines, mining claims and mining real estate across North America, today announced that early tests indicate gold content at or above previously projected levels for commercial production to proceed at the Tennessee Concentration Plant in Arizona.
“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,” said Bill Miertschin, Chairman and CEO, Hondo Mineral Corporation in press release.
The tests just completed were only for gold. Hondo plans to continue tests at the mine in an effort to discover any additional precious metals present in order to better characterize the tailings pile as well as find the best extraction process. Hondo has already achieved several milestones on the project in just the first few weeks of this year, completing the commercial processing facility, proving that their exclusive eLeach process can produce commercial quantities of pregnant leached solution, and now finding gold levels in the range of previous estimates.
In conducting the tests, Hondo utilized industry leading instruments including the Thermo Scientific iCAP 6300 ICP mass spectrometer, which can detect 71 elements as low as parts per billion, and the Oxford Instruments X-8000 XRF Laboratory analyzer, which works by shooting an x-ray beam at a sample atom.
The Tennessee Mine was once the largest producer of gold and silver in Arizona. The underground structure is still 40% intact from 1947 and it is expected to offer the possibilities for long-term production growth. Gold has had annual gains of over 20% the past eight years and presently is at over $1,400.
Hondo owns a total of 540 acres of historically significant mineral rights and an additional 720 acres of minerals claimed. The Company began construction on the Tennessee Concentration Plant in the Fall of 2010 and by the Spring of 2011 began operations to recover the metals expected to be there, including gold, silver, zinc and other yet to be identified metals.
For more information on Hondo, please visit www.Hondominerals.com
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