WML
Wealth Minerals Confirms Potential for Bulk-Tonnage Silver at Valsequillo Project, Mexico
Receives Positive Assay Results from July 2012 Sampling Outlines Phase II Exploration Program
VANCOUVER, BRITISH COLUMBIA--
(Marketwire - Oct. 2, 2012) - Wealth Minerals Ltd. (the "Company" or "Wealth") (TSX VENTURE:WML)(OTCQX:WMLLF)(FRANKFURT:EJZ) is pleased to announce that 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 http://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.
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.
ABOUT WEALTH MINERALS
Wealth is a Canadian-based mineral exploration company with listings on the TSX Venture, OTCQX and Frankfurt Stock Exchanges.
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 .
Please follow us on twitter @wealthminerals or Linked In and Facebook at Wealth Minerals Ltd.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
Hendrik Van Alphen, President & CEO
http://tmx.quotemedia.com/article.php?newsid=54720960&qm_symbol=WML
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Wealth Minerals Provides Update on Mexico Exploration
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