LAS VEGAS, March 09, 2022 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that it has signed a Letter of Intent (“LOI”) to acquire additional high-grade gold properties Zodiac II and Zodiac III in Buen Pais, Mexico. AABB management is in the process of negotiating the terms of the prospective new adjacent acquisitions to add to the recently acquired Zodiac I property and management expects to reach an agreement after a due diligence and assessment period.
Last week, the Company signed a definitive purchase agreement to acquire a 100% interest in the Zodiac I Gold Mine Project in Buen Pais (“Good Country”), Mexico. The Company came to terms with Felipe Chávez Serrano and group for the 200 hectare concession, # 218704, Zodiaco I, located in the community of Buen Pais approximately 15 kms southeast from the municipality of Tonila and 30 kms from the city of Colima in Tuxpan, Jalisco, Mexico. The total purchase price of the property was $700,000 and the Company has the option to acquire two additional Zodiac concessions. Along with the property acquisition is a 150 ton per day (tpd) capacity processing plant available for lease and expansion. The Zodiac 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.
To download the complete Buen Pais-Zodiac Preliminary Geological Report, go to: https://asiabroadbandinc.com/wp-content/uploads/2022/03/PROJECT-BuenPais-english.pdf
The assays in the geological report revealed high-grade gold and silver values from the non-targeted rock samples that were randomly collected throughout the property. Some of the most significant high-grade gold values were 101.6 grams per ton (g/t) and 26.2 (g/t). The Company is highly encouraged by the viability of these preliminary results that strongly indicate that targeted drilling samples directed by geophysics data could confirm similar high-grade mineralization values and concentrations throughout the property.
Company management is excited by the Zodiac acquisition and its expanded area for its potential for rapid expansion, high production, low operating costs and strong contribution to gross profits.
“The Zodiac I is an amazing acquisition for the us in terms of its production potential and economic value. Also, it is the third high-grade property now in the AABB mining portfolio. Generally, we are absolutely thrilled with the progress we have made over the past year with our new gold property acquisitions and our team is very focused now on their rapid development and production. And adding the Zodiac II and III to our development area would tremendously increase the production potential," 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.
In other Company news, AABB is anticipating the launch of its AABB Exchange mobile applications on the Apple and Android stores before March 22, 2022. The Company’s digital assets developer is currently finalizing the mobile versions of the proprietary cryptocurrency Exchange to submit for approval.
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.
Contact the Company at:
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ir@asiabroadbandinc.com |
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www.AABBGoldToken.com/support/ |
| Company Websites: |
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www.asiabroadbandinc.com |
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www.AABBExchange.com |
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www.AABBGoldToken.com |
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| Phone: |
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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.
