Wealth Minerals (WML-V, WMLLF-O) has reported drilling results from one project in Argentina, and rock sampling results from another.
The company has received drilling results from the Diamante –Los Patos project in the provinces of Salta and Catamarca in northwest Argentina. The company is highlighting two holes in the Bingo zone. Hole 29 returned 4 metres of 0.043% U3O8 within a 45-metre interval grading 0.011% U3O8, starting at a depth of 24 metres. Hole 20 intersected 1 metre of 0.12% U3O8 at a depth of 103 metres.
The goal of the drill campaign was to define the downdip extension of broad zones of outcropping uranium mineralization discovered in an extensive trenching program. The drill program has confirmed the structural control on the highergrade mineralization, as well as defining a large, potentially bulkleachable deposit.
To date, 20 reverse-circulation holes totalling 2,300 metres have tested an area about 300 by 300 metres at the Bingo zone. Of these, 18 holes have intersected uranium mineralization. The mineralization is known to extend to depths of about 75 metres and remains open, particularly to the west.
Wealth Minerals has also reported progress at its Bororo Nuevo uranium project in Argentina’s San Jorge basin. The company has found a new zone (named Eta) with mineralized surface rocks.
The company sent 17 rock samples for analysis, and is highlighting results from two rocks collected from the new zone, one grading 0.5% U3O8 and another 0.3% U3O8. The other 15 rocks were from known zones of mineralization, and they averaged 0.02% U3O8. To date, the company has collected 546 samples from Bororo Nuevo, averaging 0.1% uranium oxide.
Eta becomes the seventh zone identified to date at Bororo Nuevo, and extends the corridor of uranium mineralization an additional 4 km northwest. Mineralization at Eta is similar to the other zones at Bororo Nuevo, consisting of disseminated carnotite hosted in sedimentary rocks. The high-grade mineralization registered greater than 10,000 counts/second with a scintillometer and could be traced at these levels for 20 metres along strike.
The company’s field crews are currently planning more sampling and prospecting near Eta. The program is expected to start in late May.
In addition, a historical CNEA (Comision Nacional de Energia Atomica) drill site was identified by company personnel at the southernmost Alpha zone. Estimated to be more than 20 years old, the onsite drill cuttings returned an assay of 0.18% U3O8.
Located in southern Argentina, Bororo Nuevo is one of the company’s flagship properties. The project forms the core part of its 355-sq.-km landholdings targeting high-grade uranium mineralization in the productive San Jorge basin, which is host to the past-producing Cerro Condor and Los Adobes uranium deposits as well as the Cerro Solo uranium deposit, which has a historic resource of 10.3 million lbs. U3O8.
Seven large zones of mineralization have been discovered within a corridor measuring up to 9 by 7 km, and mineralization remains open in all directions. To date, less than 12% of the property has been explored in a systematic fashion, so there is potential for further new discoveries.
Environmental permits have been approved and the company is currently awaiting the permits and approvals to conduct both the initial drill testing of known showings and a detailed high-resolution radiometrics and magnetics (Hi-RAM) survey designed to rapidly prospect the remaining 90% of the project area.
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