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Wealth Announces Completion of VTEM(TM) Geophysical Surveys and Discovery of Multiple New VMS Targets on its Kootenay Nickel-Cobalt-Copper Project
Vancouver, British Columbia--(Newsfile Corp. - August 17, 2022) - Wealth Minerals Ltd. (TS...
About this update from Wealth Minerals Ltd.
[{"type":"text","content":"Wealth Announces Completion of VTEM(TM) Geophysical Surveys and Discovery of Multiple New VMS Targets on its Kootenay Nickel-Cobalt-Copper ProjectVancouver, British Columbia--(Newsfile Corp. - August 17, 2022) - Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the \"Company\" or \"Wealth\"), reports it has completed a 12,014 line-km, helicopter-borne, VTEM™ and magnetic geophysical survey (\"VTEM\") covering 5,456 hectares within the Kootenay nickel-cobalt-gold property in south-eastern British Columbia (the \"Kootenay Project\"), see Figure 1. The Kootenay Project comprises two separate claim blocks: the Lardeau-Goldsmith claim block, covering 6,951 hectares, and the Ledgend claim block covering 1,728 hectares. The geophysical review of the survey data has outlined several exciting VMS (volcanogenic massive sulphide) targets on both claim blocks. Henk Van Alphen, Wealth's CEO, stated, \"Wealth will always stay focused on its core lithium assets. However, having low-cost optionality to other battery metals is a benefit to shareholders and an easy task for management to run. The Kootenay project offers upscale potential for the discovery of nickel/cobalt mineralization. Additionally, we are fortunate that both properties also have demonstrated significant exploration potential for gold mineralization.\"The Kootenay project is located within the prospective Lardeau group, the host of numerous base metal and gold prospects including the past producing Goldstream Mine, located north of Revelstoke, B.C. The project covers some of the most prospective (95th and 99th percentile) of the anomalous nickel-cobalt and gold silt anomalies outlined by the regional sampling programs of the B.C. Ministry of Mines. Greenstone and shale units within the group (the Index Formation) host VMS deposits elsewhere in the belt (e.g., the Goldstream deposit). The rock types and style of mineralization are similar to the Outokumpu massive sulfide district of central Finland.Wealth believes that the metavolcanic and metasedimentary rocks of the southern Lardeau group (together with the associated ultramafic bodies) have excellent potential for hosting VMS type deposits with significant nickel-cobalt (+/- copper-zinc) content as well as shear zone/vein type gold deposits associated with listwanite alteration zones. The Lardea...