Thursday, May 17, 2018 9:14:39 AM
Committed to Lithium Enriched Area
INCLINE VILLAGE, NV / ACCESSWIRE / May 17, 2018 / 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 its acquisition of an additional 120 acres of land in Railroad Valley, Nevada. The transaction is expected to close by the end of 2018.
The land purchase further entrenches LithiumOre in the lithium enriched area of Railroad Valley and the state of Nevada. The Company also secured water rights for the land and believes it could be home for the eventual site of its proceeding plant.
LithiumOre Chairman and CEO Doug Cole, commented, "We are committed to the State of Nevada and Railroad Valley for lithium. We are in one of the best areas in the world and now with today's additional land purchase we have enhanced our position in the best area for lithium in the U.S."
LithiumOre holds 260 accepted lithium mineral claims, totaling 5,200 acres, located in the Western Nevada Basin, situated in Railroad Valley in 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 targeted for planned on-site exploration expected to begin by mid-2018.
Railroad Valley is one of the Central Nevada Desert Basins in the Tonopah Basin and is ~80 miles (130 km) long north-south and up to 20 miles (32 km) wide, with some southern areas running southwest to northeast. The Railroad Valley is a closed drainage basin that covers an area of approximately 2,000 square miles (5,180 square kilometers) with a geologic setting that is dominated by lake and basin-fill sediments, which overlie petroleum reservoirs. The basin is bounded on its westerly margin by Tertiary-age volcanic rocks of the Pancake Range, which are enriched in lithium and are considered to be potential source rocks for lithium brines.
In the Railroad Valley Project area, there appears to be a convergence of several factors favorable for lithium brine formation, including a deep, hydrologically closed basin covered by an evaporative playa, and adjacent Tertiary age felsic volcanic rocks of the Pancake Range that may be a source of lithium in the system. Previous oil exploration in the basin, adjacent to WWR's newly acquired land position, has penetrated significant thicknesses of evaporitic and ash-fall sediments, and has demonstrated the existence of a large geothermal anomaly underlying the entire basin. The geothermal anomaly is further evidenced by numerous hot springs on the west side of the basin, and adjacent to the project area, indicative of convective cycling within the local saline groundwater system. The numerous identifiable mechanisms for the potential concentration of lithium brines within the basin are highly promising, and create a compelling exploration target worthy of further investigation.
Such geophysical anomalies, in addition to their close proximity to potential lithium source rocks, nearby geothermal energy occurrences and the presence of evaporative processes found on the existing playa, reflect the major characteristics favorable for lithium brine development.
LithiumOre, Corp.
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 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
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, 2016. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Recent ABAT News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/20/2024 09:25:09 PM
- American Battery Technology Company Appoints Manufacturing Scale-Up Expert Steven Wu as Chief Operating Officer to Accelerate Expansion of Battery Metals Manufacturing Operations • PR Newswire (US) • 08/26/2024 09:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/26/2024 09:00:12 PM
- American Battery Technology Company Announces Commercial Transaction for Bulk Purchase of Recycled Black Mass Material by Domestic Strategic Customer • PR Newswire (US) • 07/10/2024 09:00:00 PM
- US Department of Energy Secretary Jennifer Granholm Tours American Battery Technology Company Commercial Facilities • PR Newswire (US) • 06/21/2024 01:46:00 PM
- American Battery Technology Company Successfully Manufactures Lithium Hydroxide from its First-of-Kind, Nevada-Based Claystone Integrated Demonstration Facility • PR Newswire (US) • 06/18/2024 12:50:00 PM
- Form S-3/A - Registration statement under Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 06/12/2024 08:31:00 PM
- American Battery Technology Company Invited to Share Diverse Industry Expertise and Company Progress at Upcoming Events • Business Wire • 05/22/2024 01:03:00 PM
- American Battery Technology Company Releases Third Quarter Fiscal Year 2024 Financial Report • PR Newswire (US) • 05/15/2024 11:37:00 PM
- American Battery Technology Company Ramps its Lithium-Ion Battery Recycling Facility and Operates at Over 115% Design Rate • PR Newswire (US) • 05/13/2024 01:32:00 PM
- American Battery Technology Company Hires Former Tesla Head of FP&A Europe, Scott Smith, as Vice President of Financial Planning and Analysis • PR Newswire (US) • 04/30/2024 12:38:00 PM
- American Battery Technology Company Publishes Updated Initial Assessment and Economic Analysis for its Tonopah Flats Lithium Project for One of the Largest Identified Lithium Resources in the U.S. • PR Newswire (US) • 04/24/2024 01:26:00 PM
- American Battery Technology Company Announces Commissioning of First-of-Kind Facility for Manufacturing of Battery Grade Lithium Hydroxide from Nevada Claystone Deposit • PR Newswire (US) • 04/22/2024 01:18:00 PM
- American Battery Technology Company Awarded Additional $40 Million Competitive Tax Credit to Accelerate Construction of Next Battery Recycling Facility • PR Newswire (US) • 04/04/2024 01:25:00 PM
- American Battery Technology Company Awarded $20 Million Tax Credit through Competitive US DOE Process to Advance its Critical Minerals Battery Recycling Facility • PR Newswire (US) • 04/03/2024 01:15:00 PM
- American Battery Technology Company Appoints Financial Industry Veteran, Susan Yun Lee, to Board of Directors • PR Newswire (US) • 03/29/2024 12:59:00 PM
- American Battery Technology Company Added to MSCI Micro-Cap Index • PR Newswire (US) • 02/22/2024 03:07:00 PM
- American Battery Technology Company Releases Second Quarter Fiscal Year 2024 Financial Report • PR Newswire (US) • 02/14/2024 10:36:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/14/2024 10:28:30 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/31/2024 02:46:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/31/2024 02:34:02 PM
- American Battery Technology Company to Host Corporate Overview Presentation to Update Expanded Investment Community Following its Recent Listing on NASDAQ Exchange • PR Newswire (US) • 01/30/2024 02:24:00 PM
- American Battery Technology Company CEO Ryan Melsert Invited as Industry Expert to Discuss Solving Supply Challenges with Battery Recycling at Bloomberg New Energy Finance Summit • PR Newswire (US) • 01/29/2024 01:55:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/24/2024 05:02:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/23/2024 09:24:02 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM