LAS VEGAS, Sept. 01, 2020 (GLOBE NEWSWIRE) — Asia Broadband Inc. (OTC : AABB), through its wholly owned subsidiary Asia Metals Inc., announced today further results of the Phase II Drill Program conducted in close proximity to the Company’s mine in Guerrero, Mexico. The fifth and final drilling stage of the Phase II Program was completed in August 2020 on the Company’s concessions in the La Coloradas area and consisted of 7 holes to an average depth of 398 meters (m) and 2,785 (m) in total were drilled. The results revealed high grade gold mineralization intersections in multiple drill holes and the most significant gold values were 4.4 meters (m) graded at 12.3 grams per ton (g/t), 5.2 meters (m) graded at 10.8 grams per ton (g/t) and 5.7 meters (m) graded at 8.0 grams per ton (g/t).
|Asia Metals Inc. – Phase II Drilling Program Data August 2020 – La Coloradas|
|Hole ID||Hole (m)||Start (m)||End (m)||Width (m)||AU (g/t)||AG (g/t)|
|* Please note that the IR in data table above represents an Insignificant Result|
The $4M Phase II Exploration and Development Program that began in the third quarter of 2019 is now complete with 48 holes and 21,037 (m) total drilled. AABB’s management and technical team have been thrilled with the successful drill results of the Phase II Program in all five phases of assay results published. The highlights of drill results have revealed high grade gold mineralization in multiple holes in each phase published attesting to the mine’s historical production to date. Some of the most significant gold value intersections from all of the results are 4.1 meters (m) graded at 13.2 grams per ton (g/t), 4.9 meters (m) graded at 12.6 grams per ton (g/t), 4.4 meters (m) graded at 12.3 grams per ton (g/t). The Company is now planning a series of post-program evaluations to prepare to engage in the mineral resource and reserves report generation process.
As AABB continues accelerating its mining operations expansion in 2020 and the outlook for gold remains strong, the Company is on target to achieve it highest production quarter in Q3. AABB is also anticipating gold production to triple in 2020 from its 2019 benchmark due to higher daily throughput levels and metals extraction efficiencies achieved with the new production facilities installed earlier this year. Additionally, the recent economic conditions have created strong and unprecedented fundamentals for gold producer equities and increased demand from the investment community. The economic instability, uncertainty and inflationary effects of the Coronavirus pandemic have launched gold and gold producers into a significant growth phase and increased profit margins.
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.
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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.