Wellspring Village is an Untamed village east of Silk Ridge west of the Phoenix River and north of the Great Lake where it joins the Phoenix. It is roughly half-way between the City of the Lost and Archosaur.
For characters under level 35, when the World Map item becomes available, it is likely the first stop on the way to get to Lost City and its most easily accessible Jolly Old Jones. It can also be used as a cheaper means of getting to Archosaur; teleport to Wellspring and walk / ride / swim / fly the rest of the way.
Using Teleport Incense or Town Portal anywhere in the Phoenix River area will not transport to Wellspring, but instead to West Archosaur. Using Teleport Incense or Town Portal in the Silk Ridge area will transport the character to Wellspring.
Using Teleport Incense or Town Portal anywhere in the Great Lake area will transport to Silver Pool.