LithiumOre Initiates Geophysical Survey for Lithium
INCLINE VILLAGE, February 12, 2019 - LithiumOre (the "Company"), a wholly-owned subsidiary of Oroplata Resources Inc. (OTCQB: ORRP), a lithium resource exploration and development company, today announced it has initiated a geophysical survey to determine the presence and depth of conductive and potentially lithium brine-bearing strata.
Doug Cole, Chairman and Chief Executive Officer of LithiumOre, commented, "We are excited with our progress in Railroad Valley and look forward to working with Zonge International. Our 2019 goals are centered upon advancing our exploration developments and effectively communicating our progress with our shareholders and the investing public, which includes improving our capital markets positioning by uplisting to a major exchange."
The exercise encompasses an 11.8-kilometer Magnetotelluric ("MT") geophysical survey with Zonge International Inc. (http://zonge.com), a geophysical services and equipment resource for geoscientists and project managers in exploration, research, geotechnical and environmental engineering worldwide. The survey will consist of two MT profiles to determine the presence and depth of conductive and potentially lithium brine-bearing strata. The survey covers the deepest part of the Railroad Valley Basin as defined by gravity and historic oil wells Data will be correlated and combined with existing gravity, seismic, and oil well geophysical surveys to refine targets for future drilling.
Magnetotellurics (MT) is a natural-source electromagnetic geophysical technique that measures the resistivity of the subsurface. MT is uniquely suited for either very deep exploration purposes or for exploration in extremely conductive terrains. Lithium brines are, by their nature, very conductive and are a good target for MT applications.
Made in America, LithiumOre holds 1,300 lithium mineral claims, totaling 26,000 acres, located in Railroad Valley of Nye County, Nevada. Railroad Valley is approximately 112 miles northeast of Clayton Valley and can be accessed by paved highway directly from U.S. Route 6. Railroad Valley is one of Nevada's largest trapped basins and is noted to hold all the necessary commercial and engineering prerequisites for a massive lithium brine deposit. The Company's claims have been evaluated by experts and the BLM and are in planned on-site exploration.
LithiumOre (http://lithiumore.net), a wholly-owned subsidiary of Oroplata Resources Inc. (OTCQB: ORRP), is a lithium resource exploration and development company, whose primary focus is the establishment of a low cost, long life proved production base to supply the rapidly growing and currently flourishing 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.
SOURCE: Oroplata Resources