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.
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.
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.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
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
Image with caption: "Map showing soil grid coverage and anomalies over regional geology; inset shows position of grid within the Coronado claims. (CNW Group/Wealth Minerals Limited)". Image available at: http://photos.newswire.ca/images/download/20160705_C5528_PHOTO_EN_727038.jpg
Image with caption: "Location of the Coronado property and significant mining districts in the area. (CNW Group/Wealth Minerals Limited)". Image available at: http://photos.newswire.ca/images/download/20160705_C5528_PHOTO_EN_727036.jpg
For further information: Tim McCutcheon or Marla Ritchie, Phone: 604-331-0096 Ext. 3886 or 604-638-3886, E-mail: email@example.com