Business
Wealth Minerals Provides Atacama Project Update
VANCOUVER, British Columbia, July 25, 2018 (GLOBE NEWSWIRE) -- Wealth Minerals Ltd. (the “Company” or “Wealth”) - (TSX-V:WML) (OTCQB:WMLLF) (SSE:WMLCL) (Frankfu
About this update from Wealth Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, July 25, 2018 (GLOBE NEWSWIRE) -- Wealth Minerals Ltd. (the “Company” or “Wealth”) - (TSX-V:WML) (OTCQB:WMLLF) (SSE:WMLCL) (Frankfurt:EJZN), announces delays in its Atacama Project (the “Project”) drilling program. The Company mobilized and transported a sonic drill rig to the Project area this week, at which time local community representatives expressed concerns to Wealth’s drilling crew about the Project’s impact on the area. While legally within its rights to continue drilling, the Company has chosen a non-confrontational approach with local stakeholders. As a result, Wealth is undertaking additional consultation with local community representatives, government officials and with Wealth’s state-partner, Empresa Nacional de Minería de Chile (National Mining Company of Chile) (“ENAMI”). Wealth’s management anticipates that additional engagement with the local community, and continued dialogue at all levels of government, will address any remaining concerns and allow the Project to move forward. The Company believes that delaying drilling activities is the correct approach at this time and it intends to secure a social licence to operate before proceeding to develop the Project further. Henk van Alphen, Wealth’s CEO, commented, “Of course we are disappointed by the delay in our drilling program, but we need to involve all stakeholders in the process of developing the Atacama Project in order for it to be the long-term success we all expect. We felt that it was important to meet with the local communities and to delay the drill program until we can reach an agreement to proceed. This week we will meet with our State-owned partner, ENAMI, to update them on these developments. Given that our neighbors to the south in the Atacama Salar represent fully one third of global lithium production, the stakes are quite high in the Atacama Salar for Wealth and for Chile. Chile has the natural endowment to be the dominant global player in the lithium market, but we need to ensure that our development approach is in line with the high expectations of the local community.” 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...