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Asia Broadband Extends Due Diligence In Anticipation of New High-Grade Gold Property Acquisition in Mexico
Asia Broadband Extends Due Diligence In Anticipation of New High-Grade Gold Property Acquisition in Mexico.
About this update from Asia Broadband, Inc.
[{"type":"text","content":"\n LAS VEGAS, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has extended its due diligence processes to further evaluate the development scope and value of a new high potential gold and silver property acquisition. Several weeks ago, the Company signed a Letter of Intent (LOI) to acquire the new property in the prolific mining region of Hostotipaquillo, Jalisco, Mexico. The 4,081 hectare high-grade acquisition target concession #239735 named Picachos IV is located a rapidly developing area and is adjacent to gold producer GoGold Resources Inc.’s (TSX: GGD) OTCQX: GLGDF) Los Ricos South property. The Picachos 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. In the coming weeks, the Company will continue conducting further due diligence and negotiations to acquire the new mining concession. AABB is expecting to confirm high-grade assay results in the coming weeks from the Company’s initial due diligence activities on the property, as the mapping and rock sampling program continues. Company management is exhilarated with the Picachos project for its potential for rapid development, high production and low operating costs. “Our most recent acquisition target has continued to reveal additional outstanding qualities as we continue our evaluations. We are increasingly convinced that the Picachos property could be a significant strategic acquisition for the Company’s mining property portfolio, facilitating operational and profitability growth for years to come”, 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. About Asia BroadbandAsia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific g...