LAS VEGAS, July 25, 2019 /PRNewswire/ -- Asia Broadband Inc. (AABB), through its wholly owned subsidiary Asia Metals Inc., today confirmed high grade gold mine results with over 10 grams per ton at only 3.1 meters discovered in exploration drilling of the Company's mine Guerrero, Mexico.
AABB has just completed its first drill hole of its Phase II Exploration and Development Program that will continue to target areas in extended proximity to the Company's mine in Guerrero, Mexico, to further delineate the known historical and new gold vein structures. The Company recently concluded over 600 meters (m) of drilling inclusive of equipment testing and the completion of the first drill hole to depth.
The $4M Phase II Program estimates that more than 40 drill holes and over 20,000 (m) of drilling will be completed. All drill targets defined in the Program protocol were selected using data obtained from the Company's Phase I Drill Program completed in the fourth quarter of 2018 and new geophysics data captured from the property region in the first quarter of this year.
In January of this year, the Company's management and technical team were exhilarated with the successful drill results from the Phase I Program. The highlights of the drill results revealed high grade gold mineralization that attested the mine's historical production to date. The most significant gold value intersections were 3.1 meters (m) graded at 10.9 grams per ton (g/t), 4.8 meters (m) graded at 8.7 grams per ton (g/t) and 14.2 meters (m) graded at 5.7 grams per ton (g/t).
At the same time Asia Metals completes the first drill hole of its Phase II program, Gold Prices remain elevated after recently reaching a 6-year high against all major currencies. Gold bullion prices have climbed in the wholesale market in 2019 to touch $1438 per ounce – the highest since May 2013.
Asia Broadband Inc. (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 Guerrero, 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.
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.