Wealth Commences Drilling on Its Rodeo de los Molles Rare Earth Element Project, Argentina
Published : June 03, 2011
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 3, 2011) - Wealth Minerals Ltd. (News - Market indicators)(OTCQX:WMLLF)(FRANKFURT:EJZ) (the "Company" or "Wealth") - is pleased to announce that Diamond drilling has commenced on the Rodeo de los Molles property ("Rodeo") located in San Luis Province, Argentina. This, the initial drill campaign on the property, will consist of a minimum of 30 holes (approximately 2,000 metres) and will first target high-grade rare earth element (REE) mineralization at the main Mina Norte and La Juli zones before stepping out to test newly defined areas.

To view Figure 1 accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/wml63.jpg

Recently announced results (NR11-05 - click here to view: http://www.wealthminerals.com/s/NewsReleases.asp?ReportID=451248&_Type=News-Releases&_Title=Initial-Sampling-Confirms-Presence-of-High-Grade-Rare-Earth-Element-Mineral...) from surface channel sampling confirm the presence of outcropping high-grade REE mineralization. Additionally, 136 selected rock grab samples collected from outcrop and material quarried by the previous operator average 1.70% Total Rare Earth Oxide (TREO) with values ranging from detection limits to 28.9% TREO.

Rodeo de los Molles Rare Earth Deposit Overview

The Rodeo de los Molles ("Rodeo") rare earth deposit is the largest undeveloped Rare Earth Element project in Argentina with an historical resource of 5.6Mt at 2.1% total rare element oxide. The historical geologic resource estimate for Rodeo was prepared in 1992 (including metallurgical testwork) and is based on approximately 6,000 metres of RAB drilling. This historical resource estimate is considered relevant by the Company given the global concerns regarding secure future supplies of REEs and for the purposes of the Company's decision to acquire the property and to guide the Company in formulating an exploration program for the property. However, the Company cautions that the resource estimate was prepared before the introduction of NI 43-101, and is therefore historical in nature and the Company is not treating such resource as a current resource under NI 43-101. Investors are further cautioned that a qualified person has not yet completed sufficient work to be able to verify the historical resources, and therefore they should not be relied upon.

Historical exploration at the Rodeo deposit has only tested REE mineralization to very shallow depths of approximately 30 to 40 vertical metres. The mineralization discovered to date remains open for expansion in all directions, including at depth.

The Rodeo property may be worked all year round and infrastructure is excellent – a paved road is within 2 kilometres of the deposit and power and water are within 8 kilometres.

Qualified Person & QA/QC Controls

R. Scott Heffernan, M.Sc., P.Geol., Wealth's Vice-President, Exploration, and a qualified person as defined by National Instrument 43-101, has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Heffernan is not independent of Wealth by virtue of being an officer and shareholder and a holder of incentive stock options.

Wealth's activities to date at Rodeo have been supervised by R. Scott Heffernan, P.Geol., Wealth's Vice-President Exploration, and Diego Charchaflie, P.Geo, Principal of LPF Consulting SA, who are responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project rigorously collect and track samples which are then sealed and shipped to the Activation Laboratorios Ltda. laboratory facilities in Coquimbo, Chile for preparation and then forwarded to Activation Laboratories Ltd. ("Actlabs") of Ancaster, Ontario for geochemical analysis by '8-REE Assay Package by Fusion ICP & ICP/MS'. Actlabs' Quality System is accredited to international quality standards through the International Organization for Standardization/International Electrotechnical Comission (ISO/IEC) 17025. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards.

About Wealth Minerals Ltd.

Wealth is an early stage mineral exploration company with approximately 50.6 million shares issued and listings on the TSX Venture and Frankfurt Stock Exchanges. The Company's focus is the acquisition and exploration of prospective uranium and rare earth element properties, primarily in Argentina and Peru. In addition to ongoing work programs on its existing properties, it continues to actively evaluate new potential uranium and rare earth projects in these and other countries.

For further details on the Company readers are referred to the Company's web site (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of WEALTH MINERALS LTD.

Hendrik Van Alphen, President & CEO

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 and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the potential to establish a NI 43-101 compliant resource at 'Rodeo', the potential for the expansion of the known mineralized zones at 'Rodeo'; the potential for the amenability of 'Rodeo' mineralization to respond to proven technologies and methods to recover both light and heavy rare earth oxides, the potential for mineralization at 'Rodeo' to have relatively straight-forward geometallurgy, business and financing plans and business trends, 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, variations in the nature, quality and quantity of any mineral deposits that may be located, dilution, the volatility of the Company's common share price and volume; variations in the market price of any mineral products the Company may produce or plan to produce, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability 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 Management Discussion and Analysis filed with certain securities commissions in Canada, and other information released by the Company and filed with the appropriate regulatory agencies. 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.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

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.

Wealth Minerals Ltd.
John Kocela
604-638-3281
info@wealthminerals.com
www.wealthminerals.com
Data and Statistics for these countries : Argentina | Canada | Chile | Peru | All
Gold and Silver Prices for these countries : Argentina | Canada | Chile | Peru | All

Wealth Minerals Ltd.

EXPLORATION STAGE
CODE : WML.V
ISIN : CA9468851006
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Wealth Min. is a lithium development stage company based in Canada.

Wealth Min. holds various exploration projects in Argentina.

Its main exploration properties are AMBLAYO, LAS CAPILLAS (EL CUCHO), SAN JORGE BASIN (BORORO NUEVO), DIAMANTE - LOS PATOS, PAMPA CORIA, BORONO NOVO and RODEO DE LOS MOLLES in Argentina and MACUSANI in Peru.

Wealth Min. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 6.6 millions as of today (US$ 4.8 millions, € 4.4 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 6.12, and its lowest recent point on November 07, 2014 at CA$ 0.03.

Wealth Min. has 77 660 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of Wealth Minerals Ltd.
4/1/2017Wealth Minerals begins sampling at Chile's Laguna Verde lith...
Annual reports of Wealth Minerals Ltd.
2008 Annual Report
2006 Annual report
Financings of Wealth Minerals Ltd.
3/11/2013Closes Non-Brokered Private Placement
3/11/2013Closes Non-Brokered Private Placement
1/21/2013Arranges Non-Brokered Private Placement and Debt Settlement
10/26/2009 Closes Non-Brokered Private Placement - New Director Appoin...
9/30/2009Arranges Non-Brokered Private Placement
9/10/2009Closes Non-Brokered Private Placement
8/12/2009Arranges Non-Brokered Private Placement
11/14/2008Closes Non-Brokered Private Placement
9/25/2008Announces Non-Brokered Private Placement
Project news of Wealth Minerals Ltd.
6/3/2011(Rodeo De Los Molles)Commences Drilling on Its Rodeo de los Molles Rare Earth Ele...
3/23/2011(Borono Novo)Commences Discovery Drilling Campaign on Its Bororo Nuevo Ur...
9/19/2008(Pampa Coria)Discovers Outcropping Copper-Gold Porphyry and Uranium Syste...
9/17/2008(San Jose)Discovers Additional High-Grade Uranium
9/9/2008(Macusani)(Revised) Discovers Outcropping Uranium Mineralization
5/2/2008(San Jose)Discovers New Zone of High-Grade Uranium
5/1/2008(Diamante - Los Patos)New Drilling Results at the Bingo Zone
4/15/2008(San Jose)Defines Large Copper Target at San Jose Property
1/30/2008(Diamante - Los Patos)Drilling Continues to Intersect Broad Zones of Uranium
12/5/2007(Diamante - Los Patos)Intersects Large, Potential Bulk Tonnage at Diamante-Los Pat...
10/25/2007(Diamante - Los Patos) Commences 10,000 metre drilling campaign on its Diamante-Lo...
Corporate news of Wealth Minerals Ltd.
6/22/2016Wealth Signs LOI to Acquire Balance of Salar de Aguas Calien...
6/16/2016Wealth Signs LOI to Acquire Pujsa Lithium Project, Salar de ...
6/8/2016Wealth Closes Financing of $2,000,000
6/7/2016Wealth Appoints Tim McCutcheon as President Arranges Non-Bro...
5/31/2016Wealth Completes Listing on OTCQB® Exchange
4/27/2016Wealth Signs LOI to Acquire Puritama Project Salar de Aguas ...
4/21/2016Wealth Closes $1,000,000 Financing
4/18/2016Wealth Announces Appointment of Marcelo A. Awad as Executive...
2/2/2016U.S. lithium firm Albemarle plans to more than double Chile ...
2/1/2016Wealth Enters into Exclusive LOI to Negotiate Agreement to A...
12/30/2015Wealth Closes $540,000 Non-Brokered Flow-through Private Pla...
12/29/2015Wealth Closes $540,000 Non-Brokered Flow-through Private Pla...
12/17/2015Wealth Outlines Coronado Plans
10/15/2015Wealth Renegotiates Mexican Silver Project Option
10/9/2015Wealth Grants Stock Options
10/8/2015Wealth Closes Acquisition of Yanamina Gold Project, Peru
8/17/2015Wealth Completes $450,000 Non-Brokered Private Placement
8/5/2015Wealth Appoints Tang Chief Operating Officer & Director
7/27/2015Wealth Signs Definitive Agreement for Option to Acquire up t...
7/13/2015Wealth Shares Listed on the Foreign Securities Market of the...
6/24/2015Wealth Grants Stock Options
4/7/2015Wealth Grants Stock Options
4/1/2015Wealth Enters into Exclusive LOI to Negotiate Agreement to A...
3/31/2015Wealth Closes $720,000 Non-Brokered Private Placement
2/27/2015Wealth Closes $750,000 Non-Brokered Private Placement
2/23/2015Wealth Arranges $720,000 Non-Brokered Private Placement
2/2/2015Wealth Options N1/N2 Gold Project from Balmoral Resources Lt...
2/2/2015Balmoral Options N1-N2 Project to Wealth Minerals
1/21/2015Wealth Completes Share Consolidation and Debt Settlement
7/9/2013Crosshair Terminates Letter of Intent with Wealth Minerals
7/4/2013Amends Option Grant of 3,150,000
6/21/2013Grants 3,150,000 Options
10/25/2012Enters Into LOI to Sell Argentinean Uranium Projects to Cros...
10/2/2012Confirms Potential for Bulk-Tonnage Silver at Valsequillo Pr...
9/13/2011Tue. Sep. 13/11
7/7/2011Surface Sampling Expands Known Zones of High-Grade Rare Eart...
5/4/2011Intersects Potentially Large, Bulk Tonnage, Uranium System a...
4/11/20114/11/11
4/11/2011Initial Sampling Confirms Presence of High-Grade Rare Earth ...
3/23/2011News Release
5/27/2010Signs Option to Acquire Argentina’s Largest Rare Earth Eleme...
9/2/2008Vientos Property Hosts Large Outcropping Uranium Zone
4/26/2008FILES FORM 15 TO VOLUNTARILY TERMINATE U.S. REGISTRATION
4/9/2008EXPLORATION UPDATE
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (WML.V)FRANKFURT (EJZ.F)
0.085-5.56%0.0070
TSX-V
CA$ 0.085
10/11 16:35 -
-5.56%
Prev close Open
0.090 0.090
Low High
0.085 0.090
Year l/h YTD var.
0.075 -  0.270 -67.31%
52 week l/h 52 week var.
0.075 -  0.320 -70.69%
Volume 1 month var.
61,354 -15.00%
24hGold TrendPower© : 50
Produces
Develops
Explores for Uranium - Vanadium
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 2/24/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2024-68.52%0.270.07
2023-41.30%0.480.21
202219.48%0.490.17
2021352.94%0.670.09
2020-52.78%0.380.07
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.24+0.76%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 10.06+1.93%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.57-4.68%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+18.18%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
 2.26+6.10%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 14.59+0.97%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
 0.31+3.33%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
 0.20-2.38%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
 2.20+4.27%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 42.96+0.23%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Sun Res.(Oil)SUR.AX
Released ASX Announcement: Quarterly Activities Report
AU$ 0.00+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.