Wealth Minerals plans Atacama phase I exploration

- December 21st, 2016

Wealth Minerals (TSXV:WML; OTCQB:WMLLF; SSE:WMLCL; Frankfurt:EJZ) is providing an end-of-year shareholder update.

 
Wealth Minerals (TSXV:WML; OTCQB:WMLLF; SSE:WMLCL; Frankfurt:EJZ) is providing an end-of-year shareholder update.
“Two thousand sixteen has been a transformative year for Wealth, a year during which the company has emerged as a significant player in the lithium space in Chile. Wealth has acquired multiple high-quality lithium brine projects in Chile including its flagship Atacama Project, and now controls more than 55,000 hectares in total. These acquisitions have been supported by $11.6 million of equity financing during the year,” stated Henk van Alphen, Wealth’s CEO. “Positive lithium market conditions throughout 2016 have corroborated Wealth’s business decision. Stock performance has reflected the change in commodity focus and successful business development as the Company moved from a $6 million market capitalization in January to a peak of approximately $98 million in September. Wealth’s team has been introducing the Company to all the corresponding authorities in Chile linked with the Mining Sector and also companies involved in the mining and lithium business, such as The Mining Council, various think tanks and lithium producers.”
Mr. van Alphen continued, “Strengthening the management team was a key focus in 2016, with Marcelo Awad being appointed Executive Director of Wealth Chile and Tim McCutcheon being appointed President of Wealth. As 2016 draws to a close, I would like to thank all of our stakeholders for their support throughout the year and to wish everyone happy holidays and a very prosperous 2017.”
Mr. McCutcheon, Wealth’s President, added, “Wealth still has its sights set on additional acquisitions in Chile, but the focus in 2017 will be on exploration and moving our projects forward. Shareholders can look forward to brine sampling, geophysics and most importantly drilling, initially focussed on the Atacama Project. We look forward to providing regular updates throughout 2017.”
Planned Work
Atacama Project – The Atacama Project is Wealth’s flagship lithium brine project. The Company is finalizing plans for Phase I exploration at the project. Exploration will begin with transient electromagnetic and magneto-telluric geophysical surveys, before commencing an initial drill program of up to 2,000 meters. Initial work will be carried out under a Pertinencia , a permit in Chile under which low-impact exploration activities can be carried out.
Laguna Verde Project – In Q1 2017, Wealth will initially focus on upgrading the historical inferred resource at the Laguna Verde Project to a current NI 43-101 resource estimate. The project was previously the subject of a NI 43-101 Technical Report in 2010.
Trinity Project – The Trinity Project consists of three neighbouring salars. The Company plans to undertake initial surface brine sampling at the three salars (Aguas Calientes Norte, Pujsa and Quisquiro Salars) comprising the project.
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 Aguas Calientes Norte, Pujsa and Quisquiro Salars in Chile (the Trinity Project), as well as to work alongside existing producers in the prolific Atacama Salar. The Company continues to aggressively pursue new acquisitions in the region. 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.
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