Asia Broadband Initiates Drill Program in Gold Production Area on Strategic High-Grade Property, as Gold Continues Upward Momentum
LAS VEGAS, April 03, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has began its Phase I drill program on its recently acquired high potential Picachos IV property in the prolific mining region of Hostotipaquillo, Jalisco, Mexico. The 4,081 hectare high-grade acquisition concession #239735 is located a rapidly developing area and is adjacent to TSX and OTCQX listed producer GoGold Resources Inc.’s Los Ricos South property. The Picachos gold project is another prospective high yield asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.
The initial Picachos drill program is currently identifying targets and drilling depths based on the extension of data gathered from due diligence activities conducted prior to the property acquisition. The Company is currently refining the scope of the drill program to set the Phase I budget in the coming weeks. AABB management and mining operations are exhilarated with the Picachos project for its potential for rapid development, high production and low operating costs.
“It’s a very exciting production area where Picachos is located and the property is a key strategic addition to the Company’s mining portfolio that will facilitate the growth of our operations and profitability going forward,” expressed Chris Torres, the Company 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 of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company's industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its own proprietary AABB Wallet and the unique Golden Baboons Mining Club and Shorts Rascal Club Non-Fungible Token (NFT) collections. 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 and digital asset developers.
Contact the Company at:
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| Phone: | 702-866-9054 |
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.
