Asia Broadband Advances Gold Mine Property Purchase Negotiations with Mapping and Rock Sampling Assay Results
LAS VEGAS, April 20, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – (“AABB” or the “Company”) is pleased to announce it has received mapping and rock sample assay results during the ongoing due diligence process regarding the Letter of Intent to acquire a historic production gold mine property and on-site processing facilities in the prolific mining region of Mascota in Jalisco, Mexico. The 200-hectare Los Reyes property, located approximately 3 kms from the community of Navidad at geographic coordinates 20° 15' - 20° 51” latitude North and 104° 31' - 105° 11” longitude West, has an average elevation of 2,600 meters above sea level. The Los Reyes project has two mine sites, existing infrastructure and a 50-ton per day processing facility operating on 25 hectares of the property. AABB has been strategically broadening its initiative to acquire gold production and high potential gold properties to increase the Company’s physical gold holdings.
To download the complete Los Reyes Preliminary Geological Report, go to:
Per the geological report, non-targeted rock samples were randomly collected throughout the property at the beginning of the due diligence procedures and some of the most significant gold values assayed were 2.53 grams per ton (g/t), 2.25 (g/t) and 2.21 (g/t). The Company is highly encouraged by the viability of these general results that also strongly indicate that targeted drilling samples directed by geophysics data could have significantly higher gold values and concentrations.
In the coming weeks, AABB will be conducting further due diligence and continuing its negotiations to acquire the Los Reyes project that has an estimated $30 million asset value. All efforts are underway to accelerate this turnkey acquisition in order to rapidly advance AABB toward production and begin an expansion program. The Company anticipates negotiating a definitive agreement to acquire the Los Reyes project in the very near future and will release further details at that time.
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. The Company has recently released its freshly minted mine-to-token gold-backed cryptocurrency AABB Gold token (AABBG) and strives to become a world-wide standard of exchange that is secured and trusted with gold backing, an outstanding quality 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.
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