Business
Wealth Minerals Receives Positive Geophysical Results at Laguna Verde Lithium Project
VANCOUVER, British Columbia, June 05, 2017 (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, June 05, 2017 (GLOBE NEWSWIRE) -- Wealth Minerals Ltd. (the “Company” or “Wealth”) - (TSX-V:WML) (OTCQB:WMLLF) (SSE:WMLCL) (Frankfurt:EJZN), reports that it has received positive results from the recently completed transient electromagnetic and gravity geophysical surveys at the Laguna Verde project, in Region III (Atacama), northern Chile (the “Laguna Verde Project”). The Company also announces that it has signed a letter of intent (the “LOI”) with Atacama Lithium Chile SpA in connection with the grant of an option to acquire additional exploration mining concessions (the “Concessions”) with an aggregate area of approximately 6,300 hectares surrounding the Laguna Verde Project and comprising the Salar Green and Union projects that, if exercised, would bring the Company’s total land position in and surrounding Laguna Verde to approximately 8,700 hectares. Figure 1. Laguna Verde Lithium Project land position showing the location of the pre-existing option property (blue outline) and the newly acquired projects (green outline). The location of geophysical gravity and TEM survey lines (red lines) are superimposed. Geophysical Survey Details The objective of the gravity and transient electromagnetic (“TEM”) geophysical surveys was to explore for potential lithium brines at depth in the area surrounding the Laguna Verde brine lake by characterizing and mapping the geoelectrical and density structure in the area close to the body of surface water at Laguna Verde. A total of 132 stations of 250m coincident loop TEM data and 108 stations of gravity data were acquired around the Laguna Verde brine lake. The geophysical contractor has reported that the data quality is good to excellent for both the TEM and gravity surveys. The resulting gravity model suggests a basin whose depth varies between about 400m and just over 1000m within the surveyed area. This is consistent with previously reported historical work completed by a third party, which concluded that the basin thickness was approximately 500m (see news release April 10, 2017). Conductivity variations within this interpreted basin suggest the presence at depth of saline groundwater (potential brine) in lateral proximity to the surface body of water at an interpreted depth of 200 to 300m, with the strongest response at the western e...