Wealth Minerals Ollague Salar Selected by Chilean Government to be Among the First Group of Six Salars Considered for Lithium Production Licenses
Wealth Minerals (TSXV: WML) (OTCQB: WMLLF) announces its intention to apply for a Special Lithium Operation Contract (CEOL) for the Kuska Project in the Ollagüe Salar. The Chilean government has selected Ollagüe as one of six locations for the first group of lithium project developments, based on favorable conditions and strong investor interest.
The government will implement a simplified CEOL allocation process for these six locations, considering applicants' experience, financial strength, and mining concession holdings. Specific rules for this process will be published soon, with CEOL requests expected before year-end. The Mining Ministry will also conduct indigenous consultation processes and provide CEOL draft templates to applicants.
Wealth Minerals' CEO, Henk van Alphen, expressed excitement about Ollagüe's selection, confirming the Kuska project's quality and potential. The company has prepared extensively for the CEOL application. Francisco Lepeley, CEO of Wealth Minerals Chile, highlighted the project's competitive potential and the company's technical work and community relationships.
Wealth Minerals (TSXV: WML) (OTCQB: WMLLF) annuncia la sua intenzione di richiedere un Contratto Operativo Speciale per il Litio (CEOL) per il Progetto Kuska nell'Salar di Ollagüe. Il governo cileno ha selezionato Ollagüe come una delle sei località per il primo gruppo di sviluppi di progetti sul litio, basandosi su condizioni favorevoli e un forte interesse da parte degli investitori.
Il governo implementerà un processo semplificato di assegnazione del CEOL per queste sei località, considerando l’esperienza degli aspiranti, la solidità finanziaria e le concessioni minerarie detenute. Regole specifiche per questo processo saranno pubblicate presto, con richieste di CEOL previste prima della fine dell’anno. Il Ministero delle Miniere condurrà anche processi di consultazione con le comunità indigene e fornirà modelli di bozza del CEOL agli aspiranti.
Il CEO di Wealth Minerals, Henk van Alphen, ha espresso entusiasmo per la selezione di Ollagüe, confermando la qualità e il potenziale del progetto Kuska. L’azienda si è preparata ampiamente per la richiesta del CEOL. Francisco Lepeley, CEO di Wealth Minerals Chile, ha evidenziato il potenziale competitivo del progetto e il lavoro tecnico dell'azienda e le relazioni con la comunità.
Wealth Minerals (TSXV: WML) (OTCQB: WMLLF) anuncia su intención de solicitar un Contrato Especial de Operación de Litio (CEOL) para el Proyecto Kuska en el Salar de Ollagüe. El gobierno chileno ha seleccionado Ollagüe como una de las seis ubicaciones para el primer grupo de desarrollos de proyectos de litio, basándose en condiciones favorables y un fuerte interés de los inversionistas.
El gobierno implementará un proceso simplificado de asignación de CEOL para estas seis localizaciones, considerando la experiencia de los solicitantes, la solidez financiera y las concesiones mineras que poseen. Las reglas específicas para este proceso se publicarán pronto, y se espera que las solicitudes de CEOL se realicen antes de fin de año. El Ministerio de Minería también llevará a cabo procesos de consulta indígena y proporcionará plantillas de borrador de CEOL a los solicitantes.
El CEO de Wealth Minerals, Henk van Alphen, expresó su entusiasmo por la selección de Ollagüe, confirmando la calidad y el potencial del proyecto Kuska. La empresa se ha preparado ampliamente para la solicitud del CEOL. Francisco Lepeley, CEO de Wealth Minerals Chile, destacó el potencial competitivo del proyecto y el trabajo técnico de la empresa y sus relaciones comunitarias.
Wealth Minerals (TSXV: WML) (OTCQB: WMLLF)는 Kuska 프로젝트를 위해 Ollagüe Salar의 특별 리튬 운영 계약(CEOL)을 신청할 계획을 발표했습니다. 칠레 정부는 유리한 조건과 강력한 투자자 관심을 바탕으로 리튬 프로젝트 개발의 첫 번째 그룹을 위해 올라구에를 여섯 곳 중 하나로 선정했습니다.
정부는 이러한 여섯 개 장소에 대해 신청자의 경험, 재무 건전성 및 광산 면허 보유를 고려하여 간소화된 CEOL 할당 프로세스를 시행할 것입니다. 이 과정에 대한 구체적인 규칙은 곧 발표될 예정이며, CEOL 요청은 연말 이전에 예상됩니다. 광업부는 또한 원주민 상담 프로세스를 실시하고 신청자에게 CEOL 초안 템플릿을 제공할 것입니다.
Wealth Minerals의 CEO인 헨크 반 알펜은 올라구에의 선정을 기쁘게 생각하며, 쿠스카 프로젝트의 품질과 잠재력을 확인했습니다. 이 회사는 CEOL 신청을 위해 광범위하게 준비해왔습니다. Wealth Minerals Chile의 CEO인 프란시스코 레펠리는 프로젝트의 경쟁력 있는 잠재력과 회사의 기술 작업 및 지역 커뮤니티와의 관계를 강조했습니다.
Wealth Minerals (TSXV: WML) (OTCQB: WMLLF) annonce son intention de demander un Contrat d'Opération Spécial pour le Lithium (CEOL) pour le Projet Kuska dans le Salar d'Ollagüe. Le gouvernement chilien a sélectionné Ollagüe comme l'un des six endroits pour le premier groupe de développements de projets de lithium, en se basant sur des conditions favorables et un fort intérêt des investisseurs.
Le gouvernement mettra en œuvre un processus simplifié d'attribution du CEOL pour ces six localités, prenant en compte l'expérience des requérants, la solidité financière et les concessions minières détenues. Des règles spécifiques pour ce processus seront publiées bientôt, avec des demandes de CEOL attendues avant la fin de l'année. Le Ministère des Mines mènera également des processus de consultation auprès des indigènes et fournira des modèles de projet de CEOL aux demandeurs.
Le PDG de Wealth Minerals, Henk van Alphen, a exprimé son enthousiasme pour la sélection d'Ollagüe, confirmant la qualité et le potentiel du projet Kuska. L'entreprise s'est largement préparée pour la demande de CEOL. Francisco Lepeley, PDG de Wealth Minerals Chili, a souligné le potentiel compétitif du projet ainsi que le travail technique de l'entreprise et ses relations avec la communauté.
Wealth Minerals (TSXV: WML) (OTCQB: WMLLF) kündigt seine Absicht an, einen speziellen Lithium-Betriebsvertrag (CEOL) für das Kuska-Projekt im Salar de Ollagüe zu beantragen. Die chilenische Regierung hat Ollagüe als einen von sechs Standorten für die erste Gruppe von Lithium-Projektentwicklungen ausgewählt, basierend auf günstigen Bedingungen und starkem Investoreninteresse.
Die Regierung wird einen vereinfachten CEOL-Zuweisungsprozess für diese sechs Standorte umsetzen, wobei die Erfahrung der Antragsteller, die finanzielle Stabilität und die Bergbaulizenzen berücksichtigt werden. Spezifische Regeln für diesen Prozess werden bald veröffentlicht, und die CEOL-Anträge werden voraussichtlich vor Ende des Jahres erwartet. Das Bergbauministerium wird auch Konsultationsverfahren mit den Ureinwohnern durchführen und den Antragstellern Entwürfe für CEOL-Vorlagen zur Verfügung stellen.
Der CEO von Wealth Minerals, Henk van Alphen, äußerte sich begeistert über die Auswahl von Ollagüe und bestätigte die Qualität und das Potenzial des Kuska-Projekts. Das Unternehmen hat sich intensiv auf den CEOL-Antrag vorbereitet. Francisco Lepeley, CEO von Wealth Minerals Chile, hob das wettbewerbsfähige Potenzial des Projekts sowie die technische Arbeit des Unternehmens und die Beziehungen zur Gemeinschaft hervor.
- Ollagüe Salar selected as one of six priority locations for lithium project development in Chile
- Simplified CEOL allocation process for the first six locations
- Wealth Minerals holds a strong position with its Kuska Project in Ollagüe Salar
- Company has already conducted significant technical work and exploration
- Established positive relationships with local indigenous communities
- Competitive tender process for CEOL allocation
- Only one CEOL will be granted in each location
- Indigenous consultation processes required before CEOL signing
Vancouver, British Columbia--(Newsfile Corp. - September 30, 2024) - Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") announces the Company will apply for a CEOL for the Kuska Project - located in the Ollagüe Salar.
The Government of Chile has announced today that the Strategic Council of the Lithium and Salt Flats Committee ("Strategic Council") has approved, for private investors, a first group of locations for the development of lithium projects in Chile. The Ollagüe Salar is one of these six locations that have been selected, based on its conditions for the feasibility of a lithium operation. According to the Government's publication, the six locations selected in this first group share key conditions, such as having strong interest from developing parties as collected in the recent RFI process conducted by the Ministry of Mining, favorable geological characteristics and sound environmental conditions for the awarding of a Special Lithium Operation Contract ("CEOL") and the execution of lithium projects. The Strategic Council publication also indicated that the Mining Ministry would only grant one CEOL in each location.
The Government has announced that the award of CEOLs will be a competitive tender process. However, the first six locations announced by the Strategic Council will be subject to a simplified CEOL allocation process, which will consider the experience of the applicant in any part of the lithium production value chain, its financial strength to develop the proposed project and its holding of at least
Additionally, the Government announced that a second group of prioritized locations will be announced during the last quarter of this year, further indication of the desire to stimulate lithium project development in the country.
Henk van Alphen, CEO of Wealth, comments "The whole team is very excited to see Ollagüe as one of the six locations selected by the Government of Chile in this first wave of CEOL grants. This confirms the quality and potential of our Kuska project. The Company has already performed much work to prepare for a CEOL application, and now with the Strategic Council news we will be able to submit an excellent package of information to obtain a CEOL for Kuska."
Francisco Lepeley, CEO of Wealth Minerals Chile, also commented "This is an important step in the implementation of the National Lithium Strategy and is well oriented to increase lithium production in Chile. Chile has the most competitive conditions in the world for lithium production, and our Kuska project has the potential to be within the first and second quartile of the cash cost curve globally. In short, it is a great project in a great area. On the ground here in Chile, the team has conducted significant technical work, both in exploration and in direct lithium extraction technology reviews, to satisfy the most discerning project reviewer. Also, we have built a close relationship with the local indigenous community on the basis of trust, transparency and win-win project approach."
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada and Chile. The Company's focus is the acquisition and development of lithium projects in South America.
The Company opportunistically advances battery metal projects where it has a peer advantage in project selection and initial evaluation. Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. In parallel with lithium market dynamics, Wealth believes other battery metals will benefit from similar industry trends.
For further details on the Company readers are referred to the Company's website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR+ at www.sedarplus.ca.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
"Hendrik van Alphen"
Hendrik van Alphen
Chief Executive Officer
For further information, please contact:
Marla Ritchie, Michael Pound or Henk van Alphen
Phone: 604-331-0096 or 604-638-3886
For all Investor Relations inquiries, please contact:
John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670
For all Public Relations inquiries, please contact:
Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, timing and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral projects, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
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FAQ
What is the Kuska Project and where is it located?
What is a CEOL and why is it important for WMLLF?
When will Wealth Minerals (WMLLF) apply for the CEOL for the Kuska Project?
What are the key factors considered in the simplified CEOL allocation process?
