Wealth Minerals Ltd. reports it has successfully negotiated surface access rights to the Valsequillo Silver project located in southern Chihuahua state, Mexico.
The Company has the option to acquire a 100% interest in the Property covering 2,840 hectares. The Property is located approximately 40 kilometres southeast of the city of Hidalgo Del Parral within the Altiplano Polymetallic Belt of north-central Mexico. The Company can acquire a 100% interest in the Property by making payments to the underlying arm’s length vendors of the Property in the aggregate amount of USD $6.0 million over a 90-month (7.5 years) period (see news release dated October 15, 2015).
Henk van Alphen, Wealth’s CEO, stated “Valsequillo has been an asset on our books for some time, but only recently have we been able to agree on terms with the surface rights owners to allow access to the Property and carry on exploration where we left off in 2012. It is a highly prospective silver target and in a geological setting similar to other familiar Mexican silver occurrences. While we remain focused on lithium and battery metals, the potential to add value at Valsequillo is great, and will not distract from our core activity.” Mr. van Alphen continued, “We have a unique perspective on Valsequillo due to the experience that one of our directors, Gordon Neal, has working with important silver development companies operating in Latin America, including Mr. Neal’s role as Vice President Corporate Development at MAG Silver Corp. for over eight years and his current position as President of New Pacific Metals Corp.”