World Mining Exploration News

Wealth Discovers Outcropping Copper-Gold Porphyry and Uranium Systems on Its 100% Owned Pampa Coria Property, Northwest Argentina

Wealth Minerals Ltd. is pleased to announce the results from the initial exploration work program at its Pampa Coria property in north-western Argentina.
Catena Target - Porphyry Copper-Gold
At the Catena target, 64 samples were collected from a northwest trend measuring approximately 7.5 kilometres by 2.5 kilometres. Results from these initial characterization samples returned values ranging from below detection limits to 1.46% copper, 2.26 g/t gold, 5.7 oz/t silver and 0.02% molybdenum, along with elevated lead and zinc (Figure 1). Several highlight results are tabulated below in table 1.

Table 1: Select Results from the Catena Target
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Copper Gold Silver Molybdenum Lead Zinc
Sample Number (%) (g/t) (oz/t) (ppm) (ppm) (ppm)
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500123 1.03 0.04 1.6 33 426 114
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500126 1.20 0.03 4.0 7 242 86
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500131 0.05 2.26 0.3 71 473 86
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502576 b.d. 1.85 5.7 39 b.d. b.d.
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502581 b.d. 0.11 2.9 36 6524 3262
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502597 b.d. b.d. 0.47 113 829 160
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785RLA0321 1.10 0.01 0.1 194 164 274
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785RLA0327 1.13 b.d. 0.2 13 198 223
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785RLA0329 1.46 b.d. 1.2 17 205 143
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785RLA0330 0.73 b.d. 1.1 3 170 93
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b.d. equals below detection

The copper-gold-silver-molybdenum mineralization at Catena is interpreted to be similar in nature and age to Lumina Copper Corp.’s Taca Taca project located approximately 30 kilometres to the southwest.
Mineralization, hosted in a variety of granitic rocks, consists of both primary (bornite, tetrahedrite(?), chalcopyrite) and secondary (chalcocite, malachite, cuprite, azurite, tenorite, chyrsocolla) supergene mineralization, of which the latter is prevalent. Future work will attempt to determine the full extent and nature of this potential bulk tonnage target.
Laborum Target - Uranium
A total of 70 samples collected from an area measuring approximately 7 kilometres north-south by 3 kilometres east-west averaged 0.52 lbs/ton U3O8 (0.022% uranium), ranging from below detection (10 ppm uranium) to a high of 1.72 lbs/ton U3O8 (0.073% uranium) (Figure 1).
Uranium mineralization on the property is hosted in calcic exhalative/evaporative rocks, similar to that described on the Company’s Vientos property (see NR08-08), and follow a NE-SW trend which is thought to represent a paleo-drainage or buried structure that focused uranium-bearing fluid flow.
Pampa Coria Property, North-western Argentina - Background
The Pampa Coria property is located approximately 250 kilometres west of Salta City, Salta Province, northwest Argentina and approximately 30 kilometres to the north of Lumina Copper Corp.’s Taca Taca project. The property is comprised of 3 exploration concessions (cateos) totalling 27,911 hectares owned 100% by the Company.
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 a holder of incentive stock options.
Wealth’s work programs are supervised by R. Scott Heffernan, P.Geol., Wealth’s Vice-President, Exploration, who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at each project rigorously collect and track samples which are then sealed and shipped to Alex Stewart Assayers Argentina S.A. (ASA) laboratory facilities in Mendoza, Argentina for analysis. ASA’s quality system complies with the requirements for the International Standard ISO 9001:2000. 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. Finally, representative blind blank and duplicate samples are forwarded to ASA for additional quality control.
Laboratory results are received in parts per million uranium. The conversion factor used to convert parts per million uranium to pounds per short ton U3O8 is 1.179, which was verified with the Saskatchewan Research Council (ppm uranium x 1.179 equals ppm U3O8; 10,000 ppm uranium equals 1% equals 20 lbs/ton uranium).