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Asia Broadband On-Site Mineral Analysis Lab Reveals High-Grade Results In Ore Stockpile Testing Campaign
Asia Broadband On-Site Mineral Analysis Lab Reveals High-Grade Results In Ore Stockpile Testing Campaign.
About this update from Asia Broadband, Inc.
[{"type":"text","content":"\n LAS VEGAS, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company’s on-site mineral analysis laboratory has confirmed high-grade results in the targeted ore stockpile testing campaign on the new processing facility site in Etzatlan, Mexico. The testing campaign is utilizing recently gathered data and the stockpile evaluation technical report to extrapolate the highest mineral concentration targets for evaluation and confirmation for prioritized processing. The on-site analysis lab is an efficiency tool that expedites the production target identification process with rapid test results and extensive testing capacity. The lab and testing program accelerates the new processing facility operations with reduced costs and maximized plant revenues. AABB’s new plant is designed and under construction to 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 $ 1 billion 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. 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 $3 million cost and is initially planned to have a 200 ton per day (tpd) processing capacity...