LAS VEGAS, Jan. 04, 2021 (GLOBE NEWSWIRE) — Asia Broadband Inc. (AABB), through its wholly-owned subsidiary Asia Metals Inc., announced on Monday, January 4th, that it has begun the construction of exploration and development facilities and infrastructure roads on its high potential gold and base metal property in Colima, Mexico.
The goal of the development program is to accelerate the process of moving toward production. Previous geophysics and groundwork have revealed strong indications of significant mineralization structures in multiple sectors of the property.
Located in a major gold-iron-copper production area, the property is approximately 25 kilometers east of the Pena Colorada mine in Minatitlan, Mexico. Advantageously located with direct access to main Highway #3, the property also has a natural water supply. The Colima property is situated in a region where AABB has a comparative advantage of development resources and expertise readily available to rapidly develop the project.
AABB recently added the Colima, Mexico, property to its portfolio for its high development and gold production potential. The focus of this strategic acquisition is to duplicate the successful development model of the Company’s existing high-density, shallow gold mine property in Guerrero, Mexico, which has exceptional geology and known historical gold vein structures.
In other Company news, AABB expects to conclude negotiations this week regarding the purchase proposal for the mineral property and mining operations facilities in the Guerrero Gold Belt, Mexico, with Joint Venture Partner, Qiangda Investments & Economics Co. Ltd. Details of the negotiations will be released as they become available.
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 from its shareholders.
Press release issued by Asia Broadband (AABB)
Source: Globe Newswire