Apr 4 2024Reviewed by Lexie Corner
Asia Broadband Inc. (“AABB” or the “Company”) announced the start of its Phase I drill program on the highly prospective Picachos IV property, which it recently acquired in the mining-rich region of Hostotipaquillo, Jalisco, Mexico.
The 4,081-hectare high-grade purchase concession #239735 is next to the Los Ricos South property of producer GoGold Resources Inc. It is situated in a fast-developing sector. As part of the Company's strategic growth effort to acquire gold output and increase the AABB's physical gold holdings, the Picachos gold project is another potential high-yield asset addition.
Targets and drilling depths for the first Picachos drill program are currently being determined by extrapolating information from due diligence investigations carried out before the property was acquired.
To determine the Phase I budget in the upcoming weeks, the company is fine-tuning the drill program's scope. The Picachos project excites AABB management and mining operations due to its potential for quick growth, high production, and cheap operating costs.
It is a very exciting production area where Picachos is located, and the property is a key strategic addition to the Company’s mining portfolio that will facilitate the growth of our operations and profitability going forward.
Chris Torres, Company President and CEO, Asia Broadband Inc.
By concentrating operations in areas 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, AABB continues to implement its mining property acquisition strategy to optimize development capital utilization.
Source: https://aabbgmine2token.com/about-us/