VANCOUVER, July 5, 2016 /CNW/ - Wealth Minerals Ltd. (the
"Company" or "Wealth") - (TSXV: WML; OTC: WMLLF; Frankfurt: EJZ),
announces results for the recently completed soil sample grid and
mapping programme on the Coronado Au-Ag Project, located in
southern Chihuahua, Mexico, about
35 km southwest of the city of Jimenez and roughly 25 km east of Wealth's
Valsequillo property. The soil
results define three large multi-element soil anomalies
(silver-zinc-copper) each being over 1 km in dimension.
"The soil sample results confirm the high potential of the
Coronado property. While Wealth's
focus is on lithium assets in Chile, there remains considerable value in our
Mexican and Peruvian assets. Targeted work can unlock that value
for shareholders." stated Tim
McCutcheon, Wealth's President.
Interpretation of Results
A map of the soil grid and regional geology is given below;
detailed maps of the results can be found on Wealth's website at
http://wealthminerals.com/precious-metals/coronado. Three broad
(>1 km) soil anomalies were defined by the soil sampling: 1) A
southern Ag-Zn-Cu anomaly at the southern end of the claim block,
coinciding with the contact of marble of the Cuesta del Cura
formation with El Toro granite;
this anomaly is on trend with the structurally controlled La Rocosa
Ag-Cu prospect to the southeast and strengthens in that direction,
2) an irregular Au±Cu anomaly that occurs over the El Torito
breccia on the 3rd party claims; Cu extends to the
northwest following the trend of El Toro granodiorite
intrusions, whereas Au forms a parallel anomaly offset to the
northeast and extending southeast, and 3) a broad (>2 km)
east-west oriented, low-level Ag-Zn-Cu anomaly in the central part
of the grid; this anomaly is off the regional northwest trend.
The Ag-Zn-Cu anomalies are separated from each other by the
central northwest trending subcrops of El
Toro granite dikes, which at their centre host both the El
Torito breccia and the more extensive Au anomaly. Fragments of
silicified El Toro granite occur
within the breccia. In general, the metals Ag-Zn-Cu are positively
correlated with each other, and lie outboard of the northwest
trending dikes and the Au anomaly. This is typical of zoned
skarn/manto districts, where Ag-Zn CRDs occur outboard of central
Au±Cu stockwork or breccia mineralization.
Regional aeromagnetic data released by the Mexican government
shows a northeast trending series of highs centred on each of the
three soil anomalies, which is encouraging for potential
mineralization below.
Local Geological Setting
The area of the soil grid is of very low topographic relief, and
contains few outcrops. Mapping at 1:5000 scale within and adjacent
to the soil grid revealed that broad areas shown as post-mineral
cover on government maps areas are actually subcrop of the youngest
intrusions (the El Toro granite)
with thin soil cover. Small outcrops of the older Peñoles pluton
(granite and diorite), hornfelsed shale of the Indadura Formation,
and marble of the Cuesta del Cura Formation show widespread weak
skarn alteration near contacts of the two rock types. Garnet and
epidote are common both in exoskarn in the marble and endoskarn
alteration in the intrusions. Skarn associated with the older
Peñoles granite appears to be barren, whereas that associated with
the El Toro granite is mineralized
with Ag-Zn-Cu-Au. Photos and maps can be found on Wealth's website
at http://wealthminerals.com/precious-metals/coronado.
Soil Grid Details
The 841 soil samples (801 samples with an additional 19 field
duplicates and 21 blanks for QA/QC) were collected at 100 metre
spacing on 200 metre spaced east-west lines, from the B Horizon. In
average the depths of the holes sampled were between 25 and 40 cm.
The samples were sieved (about -10 mesh) to remove larger
fragments, with the average size being between 500 and 600 grams.
Samples were transported to Chemex Laboratories, Chihuahua in the
lab's vehicle.
Moving Forward
Once the field mapping has been compiled and assessed in full,
Wealth will begin planning further work which would comprise either
more closely spaced soil sampling or trenching/pitting, followed up
with auger or RAB drilling to confirm the significance of the
anomaly.
About the Coronado Property
The Coronado property lies
within the Mesa Central of Northern
Mexico. This area coincides with a regional tectonic feature
known as the Chihuahua Trough within which numerous carbonate
replacement type Pb, Zn (Ag, Cu, Au) deposits (CRD's) are located.
In some cases these deposits can be linked to deep seated, higher
temperature intrusive/porphyry settings. The recent discoveries at
Concepcion del Oro/Peñasquito and Cinco
de Mayo demonstrate a continuum between distal, low
temperature, carbonate replacement and epithermal systems through
proximal skarn settings to deeper seated porphyry copper
(molybdenum, gold) deposits.
The soil grid covers 1575 Ha in the southwest corner of the
property, where a small Au-Cu-Ag mineralized polymictic breccia
("El Torito") occurs on a 3rd party internal claim block
The purpose of the soil grid was to determine the geochemical
footprint of the breccia and its limits outside the 3rd
party block, and to identify similar targets within a few
kilometres along favourable regional trends.
The 100% Wealth-owned Coronado
property covers 9911 Ha and has excellent road access. Surface
rights are held by a local community (Ejido Coronado) and three
private ranchers.
Qualified Person
John Drobe, P.Geo., a qualified
person as defined by National Instrument 43-101, has reviewed the
scientific and technical information that forms the basis for this
news release and has approved the disclosure herein. Mr. Drobe is a
consultant to Wealth, but does hold common shares and incentive
stock options in 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,
including interests in the Maricunga Salar in Chile. Lithium has been the only metal whose
price has been increasing in the last 12 months. The Company
also maintains a portfolio of precious and base metal
exploration-stage projects.
For further details on the Company readers are referred to the
Company's web site (www.wealthminerals.com) and its Canadian
regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
"Tim McCutcheon"
Tim McCutcheon
President
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, 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.
SOURCE Wealth Minerals Limited