LithiumOre Issues Initial Battery Metals Indication
LithiumOre owns approximately 26,000 acres including over 1,300 mining claims in the center of Railroad Valley, Nevada. These land claims are contiguous to those owned by their strategic partner, 3PL Operating, Inc. Recently, 3PL completed their initial drill project analysis and review of historical well drilling logs. Brine deposits measuring more than 370,000 ppm total dissolved salts were identified in the deep subsurface of their land. These levels of salinity corollate highly to the presence of Lithium and other key minerals. LithiumOre's drilling will commence within the next 60 days and we hope to provide additional scope of the size and deposit of potential mineral reserves.
Doug Cole, CEO of LithiumOre stated, "Our property is located in the central part of a very large deposit of underground brine, which we believe contains at least 1,000,000 (one million) metric tons of lithium carbonate. 3PL's findings underscore this belief and confirm our own analysis. We are very excited to begin drilling."
LithiumOre Corp., Made in America
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 lithium ore 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.
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