Source: Wealth Minerals Ltd.
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  • Wealth Minerals (WML) has received official approval to acquire 1,600 hectares adjacent and near-adjacent ground to its existing license position in the Ollagüe basin
  • In accordance with the terms of the agreement, the company has issued 2,000,000 shares of Wealth Minerals to Lithium Chile Inc
  • Any future payments required under the transaction will be subject to TSXV acceptance
  • After the transaction, the Ollagüe Project consists of 8,000 hectares located in northern Chile, Region II, near the Chile-Bolivia border
  • Wealth is a mineral resource company with interests in Canada, Mexico and Chile whose main focus is the acquisition and development of lithium projects in South America
  • Wealth Minerals Ltd. was down 3.333 per cent, trading at $0.29 at 12:01 PM ET

Wealth Minerals (WML) has received TSXV approval of the agreement to acquire 1,600 hectares of additional ground from Lithium Chile Inc.

The land is adjacent and near-adjacent to its existing license position in the Ollagüe basin.

In accordance with the agreement, Wealth Minerals has issued 2,000,000 shares to Lithium Chile Inc.

Any future payments required will be subject to TSXV acceptance.

Wealth announced last week the start of drilling on its licences in the Ollagüe basin. Since then, the company has made good progress on drilling its planned program, which continues to move forward on time and on budget. Management anticipates drill results by the end of summer 2022.

After the transaction, the Ollagüe Project consists of 8,000 hectares located in northern Chile, Region II, near the Chile-Bolivia border.

Lithium Chile conducted a drilling campaign in 2018, which returned lithium grades up to 480 Li mg/l and earlier surface sampling work returned lithium grades as high as 1,140 Li mg/l.

Wealth is a mineral resource company with interests in Canada, Mexico and Chile whose main focus is the acquisition and development of lithium projects in South America.

Wealth Minerals Ltd. was down 3.333 per cent, trading at $0.29 at 12:01 PM ET.

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