LAS VEGAS, Jan. 12, 2021 (GLOBE NEWSWIRE) — Asia Broadband Inc. (AABB), through its wholly owned subsidiary Asia Metals Inc., announced today that it has initiated negotiations to purchase an additional 200 hectares of mineral property adjacent to the Company’s existing San Palmar gold property in Colima, Mexico. The outstanding geological and geophysical trends extending from AABB’s existing property into the targeted area, creates a strategic acquisition opportunity to compliment and expand the mineral asset development footprint in this prolific mining area of Mexico.
AABB recently began the construction of exploration and development facilities and infrastructure roads on its high potential gold and base metal San Palmar property. The goal of the development program is to accelerate the process of moving towards production. Previous geophysics and groundwork have revealed strong indications of significant mineralization structures in multiple sectors of the property that is located in a major gold-iron-copper production area approximately 25 kms east of the acclaimed Pena Colorada mine in Minatitlan, Mexico. The San Palmar property is situated in a region where AABB has a proven comparative advantage of development resources and expertise readily available to rapidly develop the project.
The Company recently added the Colima, Mexico, property to its portfolio for its high development and gold production potential. The focus of this strategic acquisition is to duplicate the successful development model of the Company’s previously owned high-density, shallow gold mine property in Guerrero, Mexico, that has exceptional geology and known historical gold vein structures.
Further to come this week, AABB will announce on Thursday, January 14th, the final sale and agreement details regarding the mineral property and mining operations facilities in the Guerrero Gold Belt, Mexico, recently purchased by Joint Venture Partner, Qiangda Investments & Economics Co. Ltd.
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 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.
|Contact the Company at:|
|Parkin Investor Relations|
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.