Asia Broadband Confirms Mining Registry Update For Its Bonanza Gold Mine Project As Development and Drilling Program Continues

Rhea-AI Summary

Asia Broadband Inc. (OTC: AABB) has secured concession registration for its Bonanza Gold Mine Project in Nayarit, Mexico, after a delay due to administrative backlog. The project, showing over $10 million in gold and silver resource estimates, will proceed with drilling and development as per a 2022 geological report. The Bonanza property has demonstrated significant gold assay results, exceeding 10 grams per ton, positioning AABB for potential high production and low operating costs. The company aims to expand its mining operations and optimize its capital utilization, reaffirming its strategy in the Mexican market.

Positive

• Concession registration secured for Bonanza Gold Mine Project.
• Mineral resource estimates exceed $10 million.
• High-grade gold assay results over 10 grams per ton.
• Focus on rapid expansion and low operating costs.

Negative

• None.

LAS VEGAS, April 04, 2023 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has confirmed the concession registration in the Mexican Mining Registry for its 100% owned Bonanza Gold Mine Project located in the Acaponeta area of Nayarit, Mexico. An administrative processing backlog at the Registry delayed the ownership update for a considerable time, while AABB has continued work on the property. Currently, the Company is progressing with the development and drilling program at the Bonanza property recommended in the 2022 certified geological technical report prepared by a qualified professional person (QP) from Micon International Limited.

To view the Bonanza Project mining registration, input Title Number 221977 at:
https://tarjetarpm.economia.gob.mx/tarjeta.mineria/

The mineral resource estimates of gold and silver values contained in the initial technical report exceed $10 million at the current spot precious metal prices, prior to the Company’s ongoing work programs. The AABB geological and mining operations team has been utilizing the report to maximize its exploration, development and resource expansion program, as well as facilitate production, efficiencies and processing equipment installations. The Bonanza gold project is another prospective high yield mining asset in the Company’s strategic initiative to increase gold production and AABB’s physical gold holdings.

To download the complete Bonanza Project Geological Technical Report, go to: https://asiabroadbandinc.com/acaponeta-bonanza-report/

Located in the prolific mining region of Acaponeta in Nayarit, Mexico, the Bonanza property has shown high-grade gold assay results from samples and drilling activities with the most significant gold values of more than 10 grams per ton (g/t). Company management is excited by the Bonanza project for its potential for rapid expansion, high production, low operating costs and strong contribution to gross profits.

“We are thrilled with the significant development progress and upside potential of the Bonanza property as we implement the recommendations outlined in our certified resource report. It’s really great to see the title finally showing in the Mexican Mining registry after a lengthy update delay,” stated Chris Torres, AABB 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 Broadband

Asia Broadband Inc. (OTC: AABB) 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 Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. Additionally, the Company has added a digital assets business segment with its AABBG freshly minted mine-to-token gold-backed cryptocurrency within its AABB Wallet, a proprietary digital exchange AABBExchange, a proprietary cryptocurrency payment gateway solution PayAABB.com and its Golden Baboons Mining Club NFT collection. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies.

Contact the Company at:

General Email:	ir@asiabroadbandinc.com
Exchange Support:	https://aabbexchange.com/faq/
Token Support:	https://aabbgoldtoken.com/faq/aabb-wallet/
	www.AABBGoldToken.com/support/
Company Websites:	www.asiabroadbandinc.com
	www.AABBExchange.com
	www.AABBGoldToken.com
	www.AABBGoldToken.com
	www.PayAABB.com
	www.goldenbaboons.com
Phone:	702-866-9054

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.

 

FAQ

What is the significance of the Bonanza Gold Mine Project for AABB?

The Bonanza Gold Mine Project is significant for AABB as it has confirmed concession registration and shows mineral resource estimates exceeding $10 million, which may enhance the company's production capabilities.

What new developments have occurred for AABB in 2023?

In 2023, AABB confirmed the concession registration for the Bonanza Gold Mine Project and is advancing with a drilling and development program based on a certified geological technical report.

What are the assay results from the Bonanza property?

The Bonanza property has shown high-grade gold assay results with values exceeding 10 grams per ton, indicating its potential for significant production.

How does AABB plan to utilize the concession registration?

AABB plans to utilize the concession registration to optimize its exploration and development efforts, focusing on high production and low operating costs.

What challenges did AABB face regarding the Bonanza project?

AABB faced delays in ownership updates for the Bonanza project due to an administrative processing backlog at the Mexican Mining Registry.