AABB - Asia Metals Gold Mine Valuation Potential Validated by Goldman Sachs' Upgraded 2019 Gold Forecast
LAS VEGAS, Aug. 15, 2019 /PRNewswire/ -- Asia Broadband Inc. (OTC: AABB), through its wholly owned subsidiary Asia Metals Inc., recently began its 2019 Phase II Drill Program in close proximity to the Company's Guerrero Gold Belt (GGB) mine in Mexico to further delineate the known historical and new gold vein structures. The $4M Phase II Program estimates that more than 40 drill holes and over 20,000 (m) of drilling will be completed.
In January of this year, the Company's management and technical team reported 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 that AABB is expanding its gold mining operations, Goldman Sachs has published an upgrade to its 2019 gold forecast stating that prices have risen to six-year highs and will climb to $1,600 an ounce over the next six months.
Asia Broadband Inc. (OTC : 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.
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SOURCE Asia Broadband Inc.