LAS VEGAS, Oct. 21, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that it has signed a definitive joint venture agreement to secure a 75% interest in the Tequila Gold Mine Project and 100% of the current and future gold production from the property. The Company came to terms with owner Juan Enrique Michel Arambula Y Socios for the 66.6792 hectare concession # 219165, La Guadalupe, located approximately 70 kilometers north of Guadalajara near the town San Martin de las Canas in the municipality of Tequila, Jalisco, Mexico. In addition, negotiations are ongoing to add additional concessions to the Tequila Project joint venture.
The Tequila property is currently producing gold, silver and base metals from its 25 ton per day (tpd) processing facility and all efforts are underway to significantly increase daily production capacity with a mill facilities expansion installation in the first quarter of 2022. AABB will be continuing the previous exploration and drilling program on the Tequila property done by a Canadian mining company that revealed multiple gold and silver mineralization veins with high-grade potential. The additional development work on the property will facilitate the completion of a professional geological resource assessment report and further define the scope of the joint venture’s capital budget going forward.
The Tequila gold project is another high yield asset addition within the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings. Company management is exhilarated with the Tequila project for its potential for rapid expansion, high production, low operating costs and strong contribution to gross profits.
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. The Company has recently released its freshly minted mine-to-token gold-backed cryptocurrency AABB Gold token (AABBG) and strives to become a world-wide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies.
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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.