LAS VEGAS, June 07, 2022 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company is expecting the completion of the geological technical report this month for its Bonanza Gold Mine Project located the Acaponeta area of Nayarit, Mexico. The report is currently in the final stages of completion by a qualified professional person. The Company was expecting the Bonanza report to be delivered last month, but its completion was delayed intentionally to allow for the further exploration of strong mineral indications that were discovered near the time of planned submission of the drill cores. The AABB geological and mining operations team will utilize the report to plan the production and exploration expansion of the Bonanza concession. The Bonanza gold project is a prospective high yield mining asset in the Company’s strategic initiative to increase gold production and AABB’s physical gold holdings.
Located in the prolific mining region of Acaponeta in Nayarit, Mexico, the Bonanza property has shown high-grade gold assay results from recent samples and drilling activities with the most significant gold values of more than 10 grams per ton (g/t). Company management is excited by the Bonanza project for its potential for rapid expansion, high production, low operating costs and strong contribution to gross profits.
Subsequent to receiving the Bonanza report, the Company is also expecting the completed geological technical report by a qualified professional person for its Tequila gold mine project in Mexico.
“Our management and mining group are highly anticipating the professional report for our Bonanza gold project to allow us to accelerate our expansion and development plans for the property. It was great to see that there were many exciting mineral resource indications throughout the process of data gathering for the report. In a similar scenario to Bonanza, we are also expecting the Tequila property report in the weeks to follow receiving the Bonanza assessment,” expressed Chris Torres, AABB President and CEO.
AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. Additionally, the Company has added a digital assets business segment and released its AABBG freshly minted mine-to-token gold-backed cryptocurrency within its AABB Wallet and a proprietary digital exchange AABBExchange. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies.
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Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.