Wealth Minerals Ltd.: Initial Sampling Confirms Presence of High-Grade Rare Earth Element Mineralization at Wealth's Rodeo de los Molles Project, Argentina
Published : April 11, 2011

Samples returned values up to 28.9% TREO

Highlights include 8.7 metres at 1.34% TREO; 2.2 metres at 3.53% TREO; and 3.2 metres at 3.06% TREO

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 11, 2011) - Wealth Minerals Ltd. (the "Company" or "Wealth") - (News - Market indicators)(FRANKFURT:EJZ) announces that the initial results from its Phase I surface exploration at its Rodeo de los Molles (Rodeo) Rare Earth Element (REE) Project in San Luis Province, Argentina 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. 

Following a highly successful recent property visit by Wealth's specialist REE expert advisory committee comprised of Dr. Tony Mariano, Alastair Neill, and Dr. Raul Lira, the Company has decided to significantly increase the planned exploration and resource definition work on this exciting new discovery. Specifically, the advisory board commented on the well-developed near-site infrastructure, large land-package including outcropping potential REE mineralization (confirmed by this initial sampling program) and anticipated favourable metallurgical or recovery characteristics of the mineralization (test-work is currently in progress).

Commenting on these results, President and CEO Henk Van Alphen stated: "The results returned from this initial phase of work at Rodeo confirm the existence of the high-grade REE mineralization reported by previous operators. While one of our primary objectives is to establish the presence of a National Instrument 43-101 estimated resource, the presence of high grade REE mineralization outside the historic deposit areas is especially encouraging and these targets will be tested during the upcoming drill program, which is anticipated commence in the very near future."


Channel samples, cut with a portable rock saw, were systematically collected from surface exposures both peripheral to and from within the two main zones, 'La Juli' and 'Mina Norte', as well as the under-explored 'El Rulo' zone. The final results (Table 1) successfully confirm the tenor of REE mineralization present at Rodeo and highlight the potential for additional discovery.

Representative grab samples of quarried material from the La Juli zone stockpiles (~250 meter diameter) averaged 2.02% TREO from 61 samples. Similarly, 38 selected grab samples collected from stockpiles at the Mina Norte zone (~400 metres by ~150 metres), averaged 1.55% TREO.

Table 1: Summary of Channel Samples  
Channel Zone Width (m ) TREO (% )
RM-01 La Juli 5.5   0.11  
RM-02 to RM--09 " no significant intersections  
RM-10 " 8.8   0.11  
RM-11 " 6.2   0.11  
RM-12 to RM-16 " no significant intersections  
RM-17 " 5.0   0.15  
RM-30 and RM-31 " no significant intersections  
RM-32 " 3.2   3.06  
RM-33 to RM-36 " no significant intersections  
RM-18 El Rulo 8.7   1.34  
  including " 3.5   2.92  
RM-19 " 9.0   0.15  
RM-20 " 3.2   0.19  
RM-21 " 4.5   0.13  
RM-22 Mina Norte 8.0   0.40  
RM-23 " 7.5   0.22  
RM-24 " 2.8   2.79  
  including " 2.2   3.53  
RM-25 " 5.5   0.35  
RM-26 " 2.8   0.47  
RM-27 " 3.6   0.91  
RM-28 " 8.7   0.20  
RM-29 " 7.5   0.20  

Average Composition

The average composition of individual REE's from the 136 grab rock samples is summarized in Table 2.

  Average (ppm ) Maximum (ppm )
La2O3 3545   60632  
Ce2O3 8017   135868  
Pr2O3 910   15682  
Nd2O3 3132   52371  
Sm2O3 385   6645  
Y2O3 537   8942  
Eu2O3 73   1204  
Gd2O3 195   3296  
Tb2O3 22   363  
Dy2O3 104   1779  
Ho2O3 18   317  
Er2O3 47   818  
Tm2O3 6   104  
Yb2O3 33   570  
Lu2O3 4   74  
TREO (%) 1.70 % 28.9 %

Looking Ahead

The Company will commence Phase II of its aggressive exploration program upon completion of the detailed surface work, the aim of which is to increase the known mineralization and define a NI 43-101 compliant resource. The field portion of Phase II will begin with approximately 2,000 metres of Diamond drilling (20 to 30 holes) and include additional mapping, sampling and prospecting and metallurgical work. The program is expected to cost approximately $450,000 and take approximately two months to complete. The Company anticipates commencing the drilling portion of the program once the on-going drill program at the Company's Bororo Nuevo uranium property is complete (anticipated to be on or about the middle of May, 2011).

To view maps associated with this release, please visit the following link: http://media3.marketwire.com/docs/wml411d.pdf.

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 35 to 50 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 47.3 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


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 RdlM, the potential for the expansion of the known mineralized zones at RdlM; the potential for the amenability of RdlM mineralization to respond to proven technologies and methods to recover both light and heavy rare earth oxides, the potential for mineralization at RdlM 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
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.

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
Projects & res.
Asset profile
Contact Cpy

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

Wealth Min. holds various exploration projects in Argentina.


Wealth Min. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 13.6 millions as of today (US$ 9.9 millions, € 9.2 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 $720,000 Non-Brokered Private Placement
2/2/2015Wealth Options N1/N2 Gold Project from Balmoral Resources Lt...
2/2/2015Balmoral Options N1-N2 Project to Wealth Minerals
1/21/2015Wealth Completes Share Consolidation and Debt Settlement
7/9/2013Crosshair Terminates Letter of Intent with Wealth Minerals
7/4/2013Amends Option Grant of 3,150,000
6/21/2013Grants 3,150,000 Options
10/25/2012Enters Into LOI to Sell Argentinean Uranium Projects to Cros...
10/2/2012Confirms Potential for Bulk-Tonnage Silver at Valsequillo Pr...
9/13/2011Tue. Sep. 13/11
7/7/2011Surface Sampling Expands Known Zones of High-Grade Rare Eart...
5/4/2011Intersects Potentially Large, Bulk Tonnage, Uranium System a...
4/11/2011Initial Sampling Confirms Presence of High-Grade Rare Earth ...
3/23/2011News Release
5/27/2010Signs Option to Acquire Argentina’s Largest Rare Earth Eleme...
9/2/2008Vientos Property Hosts Large Outcropping Uranium Zone
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.175
05/24 16:03 -
Prev close Open
0.170 0.170
Low High
0.170 0.175
Year l/h YTD var.
0.165 -  0.270 -32.69%
52 week l/h 52 week var.
0.165 -  0.435 -58.82%
Volume 1 month var.
199,000 -10.26%
24hGold TrendPower© : 50
Explores for Uranium - Vanadium
Interactive chart Add to compare
Print Compare Export
Last updated on : 2/24/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
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 :
announces expected non-cash impairment
AU$ 7.70+0.46%Trend Power :
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 :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 11.35+4.13%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.66-5.75%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+20.00%Trend Power :
Closes Bridge Loan Financing
CA$ 2.38-3.64%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 16.54+1.91%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+2.08%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.21-2.33%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 ...
CA$ 2.39+5.29%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 48.15-0.17%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :