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.