Business
Asia Broadband Begins Installation of Mineral Testing Lab On-Site For Gold & Silver Ore Stockpile Processing Estimated Over $800 Million in Mexico
Asia Broadband Begins Installation of Mineral Testing Lab On-Site For Gold & Silver Ore Stockpile Processing Estimated Over $800 Million in Mexico.
About this update from Asia Broadband, Inc.
[{"type":"text","content":"\n LAS VEGAS, July 25, 2023 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has recently received all of its laboratory mineral analysis equipment for the new processing facility site in Etzatlan, Mexico, and has initiated the lab set up to begin ore testing. With the mineral assay and strategic analysis lab on site, the new facility will realize reduce costs and supply rapid mineral results reports. The quick turnaround and extensive testing capacity of the lab will allow the Company to select the highest grade ore for processing to efficiently maximize plant revenues. AABB’s management and technical consultants are expediting the construction of the new processing facility and have set a 3rd quarter 2023 completion timeline to achieve full operations. The new plant will utilize advanced mining equipment automation and efficiencies to maximize processing throughput and metals extraction and minimize the production costs. Additionally, the new facility will be built with expanded processing capability that will be implemented after the initial production levels have been established. In December 2022, AABB completed the land purchase for the site of the new processing facility to be constructed with respect to the terms of the historic and long-term processing and production agreement signed previously for a large-scale gold and silver ore stockpile located in Las Jimenez, Etzatlan, Jalisco, Mexico. The agreement allows the Company exclusivity to purchase the 4 million ton ore stockpile at an economically feasible price point. An evaluation report has estimated the stockpile to represent over $ 800 million in total gold and silver value. The stockpile processing project is the largest high-yield asset addition for the Company to date in its strategic expansion initiative to acquire gold production and increase AABB’s physical gold holdings. To download the Las Jimenez Stockpile Mineral Evaluation Report, go to: https://asiabroadbandinc.com/la-paz-etzatlan/  The 4.94 hectare processing plant land parcel, that includes a water concession, is located approximately 5.8 miles from the ore stockpile in Etzatlan, Mexico, and 48 miles from the AABB Buenavista mining warehouse. The new facility build-out is budgeted for a $...