AABB - Asia Metals Designates $10 Million To Initial Development Program For Colima, Mexico Gold Property And Facilities
January 26 2021 - 1:00PM
InvestorsHub NewsWire
LAS VEGAS, NV -- January 26, 2021 -- InvestorsHub
NewsWire -- Asia Broadband Inc. (OTC
: AABB), through its wholly owned subsidiary Asia Metals Inc.,
announced today that the Company has allocated $10 million for the
initial development program to accelerate operations toward
production at the high potential gold and base metal property in
Colima, Mexico. This self-funded capital designation by the Company
will be for the first phase of operations development to expand the
infrastructure, conduct further geophysics capture, initiate a
drilling exploration program and build site preparations for
facilities installations. Furthermore, AABB is preparing a complete
operations and expansion assessment of the property to determine a
total capital budget, which will also be self-funded by the
Company, for additional post-production development phases.
AABB recently began the construction of exploration and
development facilities and infrastructure roads on its Colima
property. Additionally, plans are underway to extend the previous
geophysics and groundwork that have revealed strong indications of
significant mineralization structures in multiple sectors of the
property. In a major gold-iron-copper production area, the property
is approximately 25 kms east of the Pena Colorada mine in
Minatitlan, Mexico. Advantageously located with direct access to
main Highway #3, the property also has an essential natural water
supply. The Colima project is generally situated in a region 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 in Mexico.
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 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. AABB also is releasing a
freshly minted mine-to-token gold-backed cryptocurrency and expects
to become a world-wide standard of exchange that is secured and
trusted with gold backing, an outstanding quality relative to other
cryptocurrencies.
Contact the Company at:
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.
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