INCLINE VILLAGE, NV / ACCESSWIRE / July 20, 2018 / LithiumOre (http://lithiumore.net) (the "Company"), a wholly-owned subsidiary of Oroplata Resources, Inc. (OTCQB: ORRP), a lithium resource exploration and development company, is pleased to announce that the Company has received approval from the Bureau of Land Management for its drilling permit and thus will be initiating their drill program at the Railroad Valley lithium exploration project. The Company also announces that it has now received the required permitting to drill to depths of 750 meters (2500 feet). Drilling is expected to commence in mid-September.
The drill program is designed to collect information on aquifer characteristics and test the lithium values in aquifer brines. The Company intends on deploying a drill rig equipped to reach depths of 750 meters (2500 feet).
Doug Cole, LithiumOre Chief Executive Officer, commented, "I am pleased to have received these important permits. Our work to date has produced a large and growing information base on our projects and we have now used this knowledge to specifically design a drill rig capable of drilling to depths of 750 plus meters. This technique provides us with the most cost-effective and timely drilling possible."
About LithiumOre
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, environmentally sound production base to supply the rapidly growing lithium-ion battery industry for both mobile devices 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.
Forward-Looking Statements
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.
CONTACT
Hayden IR
Stephen Hart
(917) 658-7878
[email protected]
SOURCE: Oroplata Resources, Inc.