Asia Broadband Inc. (“AABB” or the “Company”) is pleased to announce that the Company has confirmed the concession registration in the Mexican Mining Registry for its 100% owned Bonanza Gold Mine Project located in the Acaponeta area of Nayarit, Mexico.
An administrative processing backlog at the Registry delayed the ownership update for a considerable time, while AABB has continued work on the property. Currently, the Company is progressing with the development and drilling program at the Bonanza property recommended in the 2022 certified geological technical report prepared by a qualified professional person (QP) from Micon International Limited.
The mineral resource estimates of gold and silver values contained in the initial technical report exceed $10 million at the current spot precious metal prices, prior to the Company’s ongoing work programs. The AABB geological and mining operations team has been utilizing the report to maximize its exploration, development and resource expansion program, as well as facilitate production, efficiencies and processing equipment installations. The Bonanza gold project is another prospective high yield mining asset in the Company’s strategic initiative to increase gold production and AABB’s physical gold holdings.
To download the complete Bonanza Project Geological Technical Report, go to: https://asiabroadbandinc.com/acaponeta-bonanza-report/
Located in the prolific mining region of Acaponeta in Nayarit, Mexico, the Bonanza property has shown high-grade gold assay results from samples and drilling activities with the most significant gold values of more than 10 grams per ton (g/t). Company management is excited by the Bonanza project for its potential for rapid expansion, high production, low operating costs and strong contribution to gross profits.
“We are thrilled with the significant development progress and upside potential of the Bonanza property as we implement the recommendations outlined in our certified resource report. It’s really great to see the title finally showing in the Mexican Mining registry after a lengthy update delay,” stated Chris Torres, AABB President and CEO.
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.