Wealth Minerals Announces Geophysical Survey Results at Kuska Project, Ollague Salar
Vancouver, April 25, 2024 - Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") - announces the analysis results of geophysical work in the Kuska Project area. Wealth conducted in 4Q2023 multiple Magneto-Telluric ("MT") and coincident loop Transient Electromagnetic ("TEM") geophysical surveys, which delineated conductive features consistent with a porous media saturated with high-salinity fluids and is considered prospective for lithium-bearing brines at depth.
Hendrik van Alphen, CEO Wealth Minerals, said, "This analysis is a key part of our Company's development of the Kuska Project located within the Ollagüe Salar. On the back of our successful Preliminary Economic Assessment announced earlier this year, we acquired new license ground to expand the Kuska Project's footprint. This announced geophysical survey results show our new ground in the Ollagüe Salar has the potential to increase the value of the Kuska Project (see press release February 27, 2024)."
The geophysical surveys were conducted by Southernrock Geophysics, and consisted of 10 survey lines with 283 TEM sites using a contiguous 250m square coincident loop configuration and 37 sites of MT spaced 500m along 3 line-segments (Figure 1). Data was processed according to standard methodologies with 1D inversion modelling providing compiled resistivity sections.
Figure 1
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Geophysical Survey Results
The Transient Electromagnetic ("TEM") surveys identified highly conductive zones, which are interpreted to represent porous media with high-salinity fluids (potentially lithium-bearing brines) at depth. Multiple anomalies are identified within the survey area with several potential drill targets. Inversion modelling has defined a generalized 3-layer geoelectric structure with an upper resistor, an intermediate conductive layer and an underlying moderately conductive environment. The upper resistive layer increases in thickness to over 200m in the topographically elevated peripheries of the salar areas with the upper contact of the underlying low resistivity encountered at a consistent elevation of 3600 to 3650masl throughout the surveyed area. The main zones of sub-1 Ωm resistivity are imaged in the eastern and southeastern areas of the survey.
Figure 2
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On the basis of TEM data, Line L2-4 (Figure 1) represents the highest priority target with the highest tenor conductivity (lowest resistivity) suggesting potentially greater saturation and/or potentially higher salinity (Figure 2). The section clearly shows the geophysical anomaly, resistivities less than 1 ohm-m (pink and magenta colours) and previously shown to be geological formations with lithium bearing brine (see press release January 17, 2023 and Technical Report of January 13, 2023 "Estimated Lithium resources Ollagüe Project" posted on SEDAR+), continues into the recently acquired mining claims (see press release February 27, 2024) and appears to be open beyond the eastern end of the lines.
Based on the results of the geophysical surveys, further geophysics and initial drilling is warranted to investigate the south and eastern part of the recently acquired claims.
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada and Chile. The Company's focus is the acquisition and development of lithium projects in South America.
The Company opportunistically advances battery metal projects where it has a peer advantage in project selection and initial evaluation. 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. In parallel with lithium market dynamics, Wealth believes other battery metals will benefit from similar industry trends.
For further details on the Company readers are referred to the Company's website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedarplus.ca.
On Behalf of the Board of Directors of
"Hendrik van Alphen"
Hendrik van Alphen|
Chief Executive Officer
For further information, please contact:
Marla Ritchie, Michael Pound or Henk van Alphen
Phone: 604-331-0096 or 604-638-3886
For all Investor Relations inquiries, please contact:
John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670
or
Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
(949) 259-4987
WML@mzgroup.us
www.mzgroup.us
For all Public Relations inquiries, please contact:
Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, timing and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral projects, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
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