Wealth Initiates New Geophysical Survey in Atacama Region
September 17, 2018 (Source) — Re-interprets Geophysical Data to Establish Large Area of Interpreted Brine at Depth
Wealth Minerals Ltd. (the “Company” or “Wealth”) – (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt: EJZN), announces that following up on positive Transient Electromagnetic (“TEM”) and Magnetic Telluric (“MT”) geophysical survey results (see news release December 14, 2017), at the Company’s Atacama Project (the “Project”), Wealth has completed a comprehensive re-interpretation of geophysical data and established a large 100km2 area of anomalous data, interpreted to represent high-salinity brines at depth.
In addition, with a view to expanding the Company’s already extensive (46,000 hectares) footprint in the Atacama region, a geophysical survey (the “Geophysical Survey”) was recently initiated as part of due diligence on several additional properties in the area that Wealth has begun negotiations to acquire. Results from the Geophysical Survey are expected to be available in the coming weeks and will be used by the Company in determining whether to proceed with the acquisition of the additional properties.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/35305dbf-77a5-40ae-b4ab-1ed24fcfab9b
Geophysical results at the Project
Re-interpretation of MT geophysical data has generated a new resistivity cross section (Figure 1) across the southern portion of the Project (Figure 2). The cross section outlines a large area, measuring more than 10km in width, where data shows a zone of very low resistivity (less than 1 ohm-m) that ranges from 0.5km to 2km in thickness. This zone is interpreted to cover an area of at least 100km2 within the Project. The very low resistivity anomaly is interpreted to represent porous media with high salinity fluids and potentially lithium-bearing brines.
The Company is continuing to work with all stakeholders towards the goal of commencing drilling at the Project as soon as possible. Drilling data and brine sampling results will help determine the potential volume of fluid and lithium content within the target aquifer.
“Our work with stakeholders in and around the Atacama Project is progressing well and we hope to be drilling soon,” stated Henk Van Alphen, Wealth’s CEO. “As well as testing shallow drill-targets in the west of the Project, we plan to drill this 2km thick brine target in the east.”
Mr. Van Alphen continued, “There are two important lithium producing areas in the world today. In the hard-rock lithium world it is called Greenbushes, located in western Australia. In the lithium brine world, it is the Atacama in northern Chile and Wealth has a large land position in the Atacama, which we hope will prove to have significant value once drill testing begins and results become available.”
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1bc30a76-6cf6-4091-89cd-fa982e47473f
Mr. Keith Henderson, P.Geo., is a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Henderson has reviewed the scientific and technical information that forms the basis of this news release and has approved the disclosure herein. Mr. Henderson is not independent of the Company.
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada, Mexico, Peru and Chile. The Company’s main focus is the acquisition of lithium projects in South America. To date, the Company has positioned itself to develop the Trinity Project, as well as to work alongside existing producers in the prolific Atacama Salar, in addition to the Laguna Verde lithium project acquisition. The Company has also positioned itself to play a role in asset consolidation in Chile with the Five Salars Project.
The Company is transitioning from an asset acquisition phase to developing its current high potential portfolio. Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
“Hendrik Van Alphen”