LithiumOre Advances its Lithium Processing Plant and Staging Area
Completes Purchase of 120 Acres
INCLINE VILLAGE, NV / ACCESSWIRE / January 29, 2019 / LithiumOre ( http://lithiumore.net ) (the ″Company″), a wholly-owned subsidiary of Oroplata Resources, Inc. (OTCQB: ORRP ), a lithium resource exploration and development company, today announced it has completed the purchase of an additional 120 acres, which will be utilized for its lithium processing plant and staging area.
Doug Cole, Chairman and Chief Executive Officer of LithiumOre, commented, ″We are very excited with our position in Railroad Valley. We are establishing ourselves within the community and have attained great water rights, which are both key to creating value.″
Railroad Valley Lithium Project
Railroad Valley is a large topographically closed playa basin (dry salt lake bed). The basin is fault-bounded with numerous active thermal springs (anomalous in lithium) emerging along the faults. The fault sets have strike lengths of 25-30 miles (42-50 km) and are parallel to each other, about 8-12 miles apart (13-19 km). The faults that bound the basin form an elongate rectangular shaped basin of about 300 square miles (777 km2) in size.
Numerous thermal springs emerge along the basin bounding fault systems, which form the North-West and South-East flanks of the playa basin. Thermal waters which discharge from the springs carry moderately anomalous values of Lithium.
The mountains that surround the basin contain outcropping rock units also anomalous in lithium. This closely matches the geologic criteria for the United State Geological Survey (“USGS”) ore deposit model for Clayton Valley type lithium brine deposits.
LithiumOre ( http://lithiumore.net ), a wholly-owned subsidiary of Oroplata Resources, Inc. (OTC Markets: ORRP ), is a lithium resource exploration and development company, whose primary focus is the establishment of a low cost production base to supply the rapidly growing lithium-ion battery industry for both mobile devises and laptops, as well as the burgeoning EV (electronic vehicle) industry. LithiumOre is focused on becoming a substantial, profitable lithium producer via the timely development of valuable production-grade lithium brine deposits in Nevada.
For more information, please visit: http://lithiumore.net.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected project economics for Western Nevada Basin (Railroad Valley), including estimates of life of mine, average production, cash costs, AISC, initial CAPEX, sustaining CAPEX, pre-tax IRR, pre-tax NPV, net cash flows and recovery rates, the impact of self-mining versus contract mining, the timing to obtain necessary permits, the submission of the project for final investment approval and the timing of initial gold production after investment approval and full financing, metallurgy and processing expectations, the mineral resource estimate, expectations regarding the ability to expand the mineral resource through future drilling, ongoing work to be conducted at the Western Nevada Basin (Railroad Valley), and the potential results of such efforts, the potential commissioning of a Pre-Feasibility study and the effects on timing of the project, are “forward-looking statements.” Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended September 30, 2017. The Company assumes no obligation to update any of the information contained or referenced in this press release.