Wealth Minerals CEO: Investors Can't Get Enough of South America's 'Lithium Triangle'
In a recent article with Mining.com Wealth Minerals (TSXV:WML) CEO Henk Van Alphen discussed the companys’ interests in Chile, Mexico and Peru.As quoted in the article: In February 2016, Wealth announced that it had negotiated rights to purchase 100% of Li3 Energy Inc., a US-listed company with Lithium rights in the Maricunga Salar in Chile, which …
In February 2016, Wealth announced that it had negotiated rights to purchase 100% of Li3 Energy Inc., a US-listed company with Lithium rights in the Maricunga Salar in Chile, which is the second highest grade salar in Chile, and a strategic partnership with POSCO Canada Ltd., providing access to important processing technology.
In April 2016, Wealth Minerals executed a Letter of Intent to acquire an option agreement giving it the right to acquire exploration concessions located in the Salar de Aguas Calientes Norte, staking claim on 80% of the salar. In June 2016, the Company announced an additional deal in the salar, acquiring the remaining 20% for an undivided 100% interest in the entire Salar de Aguas Calientes Norte .
Also in June 2016, the Company announced acquisition of 100% rights in the Pujsa Salar in Chile. The rights cover approximately 80% of the salar’s surface area.
“In order for a lithium brine to form, the location requires favourable geology with a lithium source, topographic control to form thick sediments in a basin, and an arid climate where annual evaporation exceeds seasonal rainfall. This is an unusual combination of factors and northern Chile is a perfect storm. Chile is essentially the ‘Saudi Arabia of Lithium’.” says Marcelo A. Awad, Executive Director, Wealth Chile. “Chile produced the second-highest amount of lithium globally in 2014. Chilean mines feature the largest confirmed lithium reserves in the world, with over 7,500,000 MT of lithium. The lithium produced from the Atacama Salar in Chile is the highest grade produced from brine in the world.”