WEALTH MINERALS CONFIRMS POTENTIAL FOR BULK-TONNAGE SILVER AT VALSEQUILLO PROJECT, MEXICO
grades peaking at 494 g/t silver, 1.07 g/t gold, 11.9% zinc, 4.09% lead and 9.47% copper
Wealth samples up to 494 g/t Ag at Valsequillo
Ticker Symbol: C:WML
Wealth samples up to 494 g/t Ag at Valsequillo
Wealth Minerals Ltd (C:WML)
Shares Issued 57,058,108
Last Close 10/1/2012 $0.135
Tuesday October 02 2012 - News Release
Mr. Hendrik Van Alphen reports
WEALTH MINERALS CONFIRMS POTENTIAL FOR BULK-TONNAGE SILVER AT VALSEQUILLO PROJECT, MEXICO
Wealth Minerals Ltd.'s geological mapping and sampling at the Valsequillo property has provided confirmation of bulk-tonnage potential. In the Western Corridor (Figure 1, Table 1), discovery of additional veins and silicified fault zones now outlines a priority target area measuring approximately 900 metres long and 1,000 metres wide. Sampling of artisanal workings (29 samples) returned encouraging grades peaking at 494 g/t silver, 1.07 g/t gold, 11.9% zinc, 4.09% lead and 9.47% copper (data ranges and mean grades are provided in Table 1). Phase II exploration is now being planned with the goal of defining priority targets for drill testing.
To view Figure 1, please click https://media3.marketwire.com/docs/wml1002-F1.pdf.
Western Corridor Silver - Base Metal Prospect
A total of 56 rock samples were taken during a recent geological mapping and sampling program. Twenty nine samples were taken from the new Western Corridor prospect (Figure 1), primarily from artisanal workings and mineralized vein structures. Mean grades are presented in Table 1, together with low and high ranges.
Table 1: Assay Ranges and Average grade for Western Corridor Prospect (n=29) Geochemical Result Range Low High Mean----------------------------------------------------------------Silver 0.4 g/t 494 g/t 63.04 g/tGold below detection 1.07 g/t 0.11 g/tCopper 0.03% 9.47% 1.03%Zinc 0.004% 11.9% 0.89%Lead 0.001% 4.09% 0.62%----------------------------------------------------------------
All Samples
Mean grades for all samples (56), including mineralized samples, tectonic breccias, silicified sediments and wall-rock samples are presented in Table 2. These samples include 18 wall-rock samples, adjacent to the high-grade veins. All samples represent characteristic material from continuous or intermittent rock chips over variable widths of up to several metres. Near the main veins, the sampling carefully avoided visibly high-grade sulphide. The sampling demonstrates that the Valsequillo Property as a whole has relatively high background levels of mineralization and thus has potential for bulk-tonnage precious metal and base metal mineralization, similar in style to that of the nearby Santa Barbara Mine at Hidalgo del Parral.
Table 2: Assay Ranges and Average for all samples Mean------------------------------Silver 43.1 g/tGold 0.13 g/tCopper 0.55%Zinc 0.67%Lead 0.57%------------------------------
Exploration Model
Silver-bearing polymetallic vein systems and deeply buried porphyry-style mineralization are the two potential exploration targets. The exploration to date has already identified two prominent mineralized corridors with silver-bearing polymetallic veins in outcrop and in artisanal workings, of which, the Western Corridor is the most promising to date. The 2,840-hectare Valsequillo Property (Figure 1) covers the uppermost portion of a Tertiary porphyry or sub-volcanic system with potential for high grade and / or bulk tonnage, polymetallic and precious-metal type mineralization analogous to existing deposits within the Altiplano Polymetallic Belt. Past artisanal mining activity concentrated on a number of epithermal, zinc-lead-copper-silver veins, stockworks and silicified zones. The mineral occurrences are predominantly concentrated within two northwest-trending corridors along the eastern and western margins of a large anomalous iron-oxide color anomaly more than 3 km across.
Phase II Exploration Plans
The Company intends to complete a second phase of multi-disciplinary exploration over the entire property, focusing on the Western Corridor. This proposed program includes acquisition of high-resolution satellite imagery, completion of more detailed geological mapping, additional rock sampling to define the extent of mineralization, property-wide geophysical magnetic surveys and geochemical soil sampling, followed by a targeted geophysical induced polarization survey. The results from this work will define drill targets to be tested in Phase III.
About Valsequillo Silver Project
The Valsequillo Silver project is located in southern Chihuahua State, Mexico. The property is located approximately 40 kilometres southeast of the city of Hidalgo Del Parral within the prolific Altiplano Polymetallic Belt of north-central Mexico where access and infrastructure are excellent.
The Company has an option to acquire a 100% interest in the Valsequillo property from a private Mexican family for a total consideration of US$6.65 million over a 54-month period (previous news release February 9, 2012). Two mineral claims are located within the Valsequillo claim and are owned by third party artisanal miners (Figure 1).
Qualified Person
The technical aspects of this news release have been reviewed and approved by James M. Dawson, P. Eng., who is a qualified person as defined by National Instrument 43-101. Mr. Dawson is not independent of the Company as he is a director and holds common shares and stock options.
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