LAS VEGAS, Oct. 1, 2019 /PRNewswire/ -- Asia Broadband Inc. (OTC: AABB), through its wholly owned subsidiary Asia Metals Inc., today announced the initial results of the 2019 Phase II Drill Program being conducted in close proximity to the Company's gold mine in Guerrero, Mexico. The first drilling stage of the Phase II Program was completed in August 2019 on the Company's concessions in the La Coloradas area and consisted of 10 holes to an average depth of 445 meters (m) and 4,458 (m) in total were drilled. The focal point of the results were significant gold mineralization intersections in multiple drill holes. The most prominent gold value intersections were 5.2 meters (m) graded at 11.6 grams per ton (g/t), 5.6 meters (m) graded at 10.1 grams per ton (g/t) and 15.1 meters (m) graded at 6.8 grams per ton (g/t).
As the Company continues accelerating its mining operations expansion activities in 2019, several additional assay results are expected to be released from the ongoing $4M Phase II Exploration and Development Program. The 20,000 (m) drilling campaign is targeting areas in extended proximity to the Company's mine in Guerrero, Mexico, to further delineate the known historical and new gold vein structures.
Asia Metals Inc - Phase II Drilling Program Data 2019 - La Coloradas Area
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Hole ID
| Hole
(m)
| Start
(m)
| End
(m)
| Width
(m)
| AU
(g/t)
| AG
(g/t)
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|
|
|
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LC2019AM-XIII
| 498
| 211
| 220
| 8.1
| 2.14
| 1.47
|
|
| 331
| 339
| 7.4
| 9.23
| 0.98
|
LC2019AM-XIV
| 512
| 183
| 191
| 7.3
| 1.48
| 1.82
|
|
| 301
| 307
| 5.2
| 11.61
| 0.79
|
|
| 378
| 394
| 15.7
| 0.83
| 0.91
|
LC2019AM-XV
| 461
| 224
| 238
| 13.2
| 1.65
| 1.94
|
|
| 346
| 362
| 15.1
| 6.84
| 0.89
|
LC2019AM-XVI
| 426
| 272
| 280
| 7.9
| 9.37
| 1.27
|
|
| 317
| 335
| 18
| 0.74
| 1.16
|
LC2019AM-XVII
| 503
| 328
| 333
| 4.8
| 8.21
| 0.72
|
|
| 423
| 435
| 11.8
| 1.32
| 0.86
|
LC2019AM-XVIII
| 442
| 198
| 202
| 3.9
| 3.96
| 1.35
|
|
| 339
| 346
| 6.9
| 8.44
| 0.93
|
LC2019AM-X1X
| 451
| 208
| 220
| 11.3
| 2.87
| 1.82
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|
| 331
| 337
| 5.6
| 10.19
| 0.76
|
LC2019AM-XX
| 414
| 377
| 383
| 5.2
| 7.41
| 0.93
|
LC2019AM-XXI
| 429
| 278
| 283
| 4.9
| 6.78
| 1.06
|
LC2019AM-XXII
| 322
| -
| -
| -
| IR*
| IR*
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* Please note that the IR in data table above represents an Insignificant Result
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AABB Research Analyst Report $0.24 PPS Peer Valuation
AABB was recently the subject of a Research Analyst Report that included a peer valuation indicating a speculative price-per-share value of AABB stock of $0.24 over the next twelve months. The peer valuation is part of a comprehensive research analyst report published yesterday by Goldman Small Cap Research.
Asia Broadband Inc. (OTC : AABB), through its wholly owned subsidiary Asia Metals Inc., 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 Guerrero, Mexico, to our client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of Asia Broadband and differentiates the Company to its shareholders.
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.
Contact the Company at:
Email: ir@asiabroadbandinc.com
Website: www.asiametalsinc.com
Phone: +1-702-866-9054
Cervitude Intelligent Relations
Nicholas Coriano
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SOURCE Asia Broadband Inc.