Oleblue
1 year ago
AABB - Asia Broadband Signs Letter of Intent to Acquire High-Grade Gold Property in Jalisco Mexico
home / stock / aabb / aabb news
September, 07 2023 08:00 AM| GlobeNewswire |
LAS VEGAS, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has signed a Letter of Intent (LOI) to acquire a high potential property in the prolific mining region of Hostotipaquillo, Jalisco, Mexico. The 4,081 hectare high-grade acquisition target concession #239735 named Picachos IV is located in a rapidly developing area and is adjacent to GoGold Resources Inc.’s (TSX: GGD) (OTCQX: GLGDF) Los Ricos South property. The Picachos gold project is another prospective high yield asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.
In the coming weeks, the Company will be conducting further due diligence and continuing its negotiations to acquire the new mining concession. AABB is expecting to confirm high-grade assay results in the coming weeks from the Company’s initial due diligence activities on the property, as the mapping and rock sampling program continues. Company management is exhilarated with the Picachos project for its potential for rapid development, high production and low operating costs.
“The Picachos property is a key strategic acquisition for the Company’s mining property portfolio that will facilitate the growth of our operations and profitability going forward”, expressed Chris Torres, the Company 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.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company's industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its AABB Wallet, the unique Golden Baboons Mining Club non-fungible token collection, a proprietary digital exchange AABBExchange and a cryptocurrency payment gateway solution PayAABB.com. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.
Anticipating
4 years ago
GoGold Resources to Present at Alpha Bronze Virtual Town Hall
8:00 am ET August 3, 2020 (Accesswire) Print
NEW YORK / ACCESSWIRE / August 3, 2020 / Alpha Bronze, LLC ("Alpha Bronze"), is pleased to announce that GoGold Resources Inc. (TSX:GGP)(OTCQX:GLGDF) ("GoGold Resources" or the "Company"), a Canadian-based silver and gold producer with projects in Mexico, will be presenting at Alpha Bronze Virtual Town Hall on Tuesday, August 4, 2020 at 12:00 PM EDT.
Image: https://www.accesswire.com/users/newswire/images/599930/image.png
Mr. Bradley Langille, Chief Executive Officer of GoGold Resources will give an overview of the Company, as well as its current silver producing mine - the Parral mine and an update on its high-grade silver and gold exploration programs at Los Ricos and recent reported results. Mr. Langille will then respond to Investors questions thereafter.
GoGold Resources - Town Hall Agenda
CEO Presentation - 10 to 15 minutes
Follow-up Q&A - 10 to 15 minutes
The presentation will be webcast live. You can access register to the Virtual Town Hall with the following link: https://zoom.us/webinar/register/WN_uHYWRXFlReuaixSa_Alt5w
REGISTER
Anticipating
5 years ago
GoGold Drills 45.3m Averaging 1.41g/t Gold Equivalent including 6.2m of 4.23 g/t at San Juan
October 23, 2019
Halifax, NS – GoGold Resources Inc. (TSX: GGD) (“GoGold”, “the Company”) is pleased to release the assay results from 6 new diamond drill holes including four from the San Juan zone, the first step out hole testing the El Troce area, and one from the Main area. Holes LRGG-19-050, 051, 052 and 054 were completed on the San Juan ore shoot located 400 metres to the northwest of the Los Ricos Main mine area. Hole LRGG-19-053 was the first step out hole drilled at the El Troce zone located 500 metres northwest of the Los Ricos Main mine area.
https://gogoldresources.com/investors/press-releases/2019/224-gogold-drills-45-3m-averaging-1-41g-t-gold-equivalent-including-6-2m-of-4-23-g-t-at-san-juan
Anticipating
5 years ago
Historical Drilling
The quality assurance and quality controls (“QA/QC”) programs used by Tumi Resources Inc. in 2003 and 2004 for the core and RC drilling programs are fully described and documented in the NI 43-101 “Summary Report on the Geology and Exploration Programs, ”Cinco Minas Project” dated August 18, 2004 by John Nebocat, P. Eng., a copy of which is available on SEDAR as filed by Kingsmen Resources Ltd. on Dec 2, 2004. Drilling results in the table above are from the same report. All samples from the drilling programs were analyzed by IPL Laboratories in Vancouver, BC for gold and silver using the fire assay – atomic absorption method; gold values greater than 1000 ppb Au were rechecked by fire assay – gravimetric methods.
The QA/QC program also included inserting commercial reference control standard materials for gold and silver along with duplicate check sampling. The results of both the standards and the check samples came out very well with no significant discrepancies.
FUTURE OUTLOOK
The Corporation intends to focus on increasing production at Parral, continuing with the drilling program at Los Ricos, and intends to continue investigating projects that meet its criteria of being advanced, capable of producing at a low all-in cost, and of being developed in a short time frame.
https://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00029249&issuerType=03&projectNo=02949232&docId=4570028
Anticipating
5 years ago
(2) A brief description of the title, claim, lease or option under which the issuer and its subsidiaries have or will have the right to hold or operate the property, indicating any conditions which the issuer must meet in order to obtain or retain the property. If held by leases or options, the expiration dates of such leases or options should be stated. Appropriate maps may be used to portray the locations of significant properties.
On March 27, 2009, the Company entered into a Preliminary Mineral Exploration Agreement with Omar Alejandro Flores Madrigal for a 100% interest in the Cinco Minas and Gran Cabrera Gold properties and mineral concessions in Mexico for a total purchase price of $7,500,000 USD.
On March 30, 2009, the Company paid a deposit of $5,000,000 for the properties by issuing a total of 800,000,000 restricted shares at $.00625 to Comercalizadora, Servicios Y Distribuidora Track, S.A. DE C.V. (400,000,000 shares) and to Omar Alejandro Flores Madrigal, Principal Officer, (400,000,000 shares).
On April 6, 2009, the 800,000,000 shares were assigned to Novamex Mineral S.A..
On December 10, 2010, the mineral exploration agreement was finalized with the purchase price for the assets comprising the mineral concessions "Gran Cabrera" was $2,500,000 and "Cinco Minas" was $5,000,000. As of August 31, 2012, the total purchase price has been paid in full and $2,257,914 has been incurred for exploration and development costs. Also, see Question 3 below.
(3) A brief history of previous operations, including the names of previous operators, insofar as known.
The Cinco Minas site covers roughly 10,750 hectares and is located approximately 100 kilometres northwest of the City of Guadalajara. The Gran Cabrera site covers roughly 4,300 hectares and is located approximately 35 kilometres northwest of Cinco Minas.
Anaconda Mining Company was the previous owner of the Cinco Minas property. Between 1922 and 1928 it mined a reported 1,083,000 tonnes of ore averaging 3.17 g/t gold and 476 g/t silver. This equates to 97,364 oz. of gold (2,760 kilograms) and 15,095,915 oz. of silver (427,954 kilograms).
The most recent work that was previously done on the property was by Tumi Resources Ltd. in 2003-2005.
John Nebocat, P.Geo, produced three detailed technical briefs as the qualified person for that company. His reporting and assessment work is the most complete reporting that exists in the Cinco Minas area. Tumi Resources also hired the firm of Behre Dolbear de Mexico to assist Nebocat in the final determinations of resource grade estimates for their November 2004 reporting.
https://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=96742
Anticipating
5 years ago
Deposit Type
Cinco Minas is a classic Tertiary age, volcanic-hosted, low sulphidation, epithermal, precious metal deposit. The vein, which is up to about 30 metres wide, has had at least 3 quartz veining/metal precipitating events noted. The size and dimensions of the Cinco Minas vein varies somewhat from report to report. An unknown author (signature not discernible) in a 1954 report describes the vein as being about 3 km long and about 20 feet wide at the Cinco Minas mine (El Abra workings?), yet at the Dos Juanes crosscut he describes the Cinco Minas vein as being 100 feet wide and the Dos Juanes vein as being somewhat narrower and separated from Cinco Minas by about 100 feet of country rock.
Northwest of Dos Juanes the San Juan vein continues as the El Aguila vein. He further suggests that the Cinco Minas and San Juan veins are one. Wisser (1930) states that the Cinco Minas vein lies in the footwall of the regional fault zone, paralleling it in strike in dip (this would be the high grade shoot portion of the vein, as seen at El Abra). It is a shatter zone with some displacement, and the vein is merely a mineralized member of the group of fractures making up the fault zone.
The vein is not a simple fissure; it seldom shows clean-cut walls except where a fault of the regional fault zone forms its hanging wall. Fracturing varies from mere sheeting to intense shattering and crushing. Vein matter may consist of thin irregular stringers or be present in large amounts, cementing jumbled andesite fragments; in places a solid vein several metres wide occurs. The footwall shows the least shattering, consisting of closely-spaced stringers or massive quartz with or without calcite. Shattering increases towards the hanging wall, and the vein consists of andesite and quartz fragments cemented by quartz and calcite; calcite is usually more abundant next to the hanging wall.
Silicification of both the wallrock and included fragments is often intense. Vein textures range from coarsely crystalline to chalcedonic; the finer grained form is more common.
https://gogoldresources.com/properties/los-ricos
Level up your trading with our powerful tools and real-time insights all in one place.
alidare
1 year ago
TrendTrade2016
2 years ago
JBZ
5 years ago
Golden Cross
5 years ago
Hot Features
Premium
