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Wealth Minerals ( (TSE:WML) ) has provided an announcement.
Wealth Minerals Ltd. has announced its intent to acquire the Pabellón Lithium Project in northern Chile, securing a 100% royalty-free interest in the exploration concession. The project, which is strategically located near the Chile-Bolivia border, includes 26 mineral exploration licenses covering 7,600 hectares. This acquisition is significant for Wealth Minerals as it plans to install a lithium extraction unit using Direct Lithium Extraction technology adjacent to the Cerro Pabellón geothermal power plant, operated by ENEL. This move aims to enhance the value of Wealth’s Kuska Project by providing an additional source of mineral material and positioning the company advantageously in securing power for future development. The initiative reflects Wealth’s commitment to environmentally friendly mineral extraction and involves collaboration with various stakeholders, including the Indigenous Quechua Community and strategic investors.
More about Wealth Minerals
Wealth Minerals Ltd. operates in the mining industry, focusing on the exploration and development of lithium resources. The company is involved in acquiring and developing mineral properties, with a significant market focus on lithium-rich regions, particularly in Chile.
YTD Price Performance: 113.33%
Average Trading Volume: 300,968
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $21.06M
For a thorough assessment of WML stock, go to TipRanks’ Stock Analysis page.
