Wealth Minerals (TSXV: WML) reported that it was able to negotiate surface access rights to the Valsequillo silver project located in the Mexican state of Chihuahua.
In a press release, Wealth explained that it has the option to acquire a 100% interest in the 2,840-hectare property by making payments to the underlying arm’s length vendors in the aggregate amount of $6 million over a 90-month period.
The property is unexplored by modern methods. Wealth believes that it can be rapidly and cost effectively brought to the drill stage now that surface access rights have been secured
Valsequillo is located approximately 40 kilometres southeast of the city of Hidalgo Del Parral within the Altiplano Polymetallic Belt of north-central Mexico.
“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,” Henk van Alphen, Wealth’s CEO, said in the media brief. “It is a highly prospective silver target and in a geological setting similar to other familiar Mexican silver occurrences.”
According to van Alphen, initial reconnaissance work carried out by Wealth on the property in 2012 identified two significant north-northwest trending structural corridors outlined by extensive artisanal workings that follow en-echelon and segmented precious and base-metal bearing quartz-sulphide veins within a broad hornfels gossan.
“The mineral-alteration systems identified to date remain open for expansion in all directions,” the executive said.