Asia Broadband Completes Mineral Analysis Lab Installation and Begins Targeted Ore Stockpile Testing Campaign
Asia Broadband Inc. has completed the installation of its mineral analysis laboratory and has started a testing campaign on its new processing facility site in Mexico. The lab will expedite the production target identification process and reduce costs. The new facility will maximize processing throughput and metals extraction. AABB has exclusivity to purchase a 4 million ton ore stockpile estimated to represent over $800 million in gold and silver value. The new facility is initially planned to have a 200 tpd processing capacity, with a mill expansion installation to increase capacity to 1,000 tpd.
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Asia Broadband Inc. has completed the installation of its mineral analysis laboratory, which will expedite the production target identification process and reduce costs. The new facility is designed to maximize processing throughput and metals extraction, leading to increased revenues. AABB has exclusivity to purchase a 4 million ton ore stockpile estimated to represent over $800 million in gold and silver value. The new facility is initially planned to have a 200 tpd processing capacity, with a mill expansion installation to increase capacity to 1,000 tpd.
10/25/2023 - 08:00 AM
LAS VEGAS, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has completed the installation of its mineral analysis laboratory and has begun a 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 processing facility operations with reduced costs and maximized plant revenues.
To download the Las Jimenez Stockpile Mineral Evaluation Report, go to: https://asiabroadbandinc.com/la-paz-etzatlan /
AABB’s new plant is designed 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 $ 800 million 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. At this first level of processing, the mill is estimated to generate over $11 million in revenue annually. However, the Company will also be accelerating a mill expansion installation to increase the processing capacity 5 fold to 1,000 tpd, once the initial processing level of the mill is consistently at capacity.
“Our technical team has been gathering additional stockpile data to combine with the data used in the stockpile evaluation report and is creating prioritized target zones for production. With our own mineral testing lab on the facility site, we can now identify the highest mineral concentration priority targets in a very short period of time instead of having to rely on outside mineral analysis services. The lab gives us a significant efficiency and quality advantage with our processing to achieve the greatest value throughput to maximize revenues,” explained Chris Torres, AABB President and CEO.
About Asia Broadband
Contact the Company at:
General Email: ir@asiabroadbandinc.com
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.
What is the purpose of AABB's new mineral analysis laboratory?
The mineral analysis laboratory is designed to expedite the production target identification process and reduce costs.
What is the estimated value of the ore stockpile that AABB has exclusivity to purchase?
The ore stockpile is estimated to represent over $800 million in gold and silver value.
What is the initial processing capacity of AABB's new facility?
The new facility is initially planned to have a 200 ton per day processing capacity.
Will AABB increase the processing capacity of the new facility in the future?
Yes, AABB plans to install a mill expansion to increase the processing capacity to 1,000 tons per day.
