Asia Broadband Inc. has announced its signing of a definitive purchase agreement to buy a 100% deal offered in the Zodiac Gold Mine Project located in Buen Pais, Mexico.
Image Credit: Shutterstock.com/ Roman Bodnarchuk
The Company struck a deal with Felipe Chávez Serrano and group for the 200-hectare tender, #218704, Zodiaco I, located in the community of Buen Pais in Tuxpan, Jalisco, Mexico, approximately 15 km southeast of the municipality of Tonila and 30 km from the city of Colima. The property cost $700,000 in total, and the Company has the right to claim two additional Zodiac concessions.
Along with the property purchase, a processing plant with a capacity of 150 tons per day (tpd) is obtainable for lease and improvement. The Zodiac gold project is another potentially high-yielding property addition in the Company’s strategic growth plan to acquire gold production and improve the AABB’s physical gold assets.
The geological report’s assays demonstrated higher gold and silver values from non-targeted rock samples taken at random throughout the property. The most significant increased gold values were 101.6 grams per ton (g/t) and 26.2 grams per ton (g/t).
The effectiveness of these early findings, which imply that aimed drilling samples oriented by geophysics data could confirm relatively similar mineralization values and concentrations throughout the property, is extremely encouraging to the Company.
The Zodiac acquisition excites company management because of its potential for explosive growth, increased production, low maintenance costs and great contribution to gross profits.
The Zodiac is an amazing acquisition for the us in terms of its production potential and economic value. Also, it is the third high-grade property now in the AABB mining portfolio. We are absolutely thrilled with the progress we have made over the past year with our new gold property acquisitions and our team is very focused now on their rapid development and production.
Chris Torres, President and CEO, Asia Broadband Inc.
AABB continues to pursue its mining property acquisition plan to maximize development capital utilization by concentrating operations in regions of Mexico where AABB has a contrasting benefit in terms of development resources and expertise widely accessible for explosive growth and duplication of the Company’s past gold production achievements.
Source: https://www.globenewswire.com/