HENDERSON, Nev., July 15, 2016 (GLOBE NEWSWIRE) -- Oroplata Resources, Inc. (“Oroplata” or the “Company”) (OTCBB:ORRP) is pleased to provide the following update on the Company’s activities. The Oroplata geological team is in the process of reviewing all available well data and refining a planned 2016 Exploration Program of drilling and geophysics for the Western Nevada Basin (WNB) lithium project.
The WNB Project is located approximately 94 miles (151 kilometers) northeast of Tonopah, NV, in Nye County, Nevada. Oroplata holds a 100% interest in 500 claims over 10,000 acres in one of Nevada’s largest trapped drainage basins in an area that was first identified as lithium rich by the United States Geological Survey (USGS). The Company also has an exclusive option to acquire an additional 700 mining claims in the area for a total of 24,000 acres.
Oroplata believes the WNB project has the potential to host lithium-bearing brines in subterranean aquifers beneath the valley floor. Historical oil exploration and development data obtained by Oroplata indicate that geologic formations and brines are present that appear to be very similar to the lithium brine deposit model of the Clayton Valley. Clayton Valley hosts the Silver Peak lithium brine mine, which is operated by Albemarle Corp.
Lithium brine projects are known to be lower cost to explore and develop compared to hard rock mining alternatives; they are quicker in proving up a resource and reserves; they are faster and much less capital intensive to put into production.
The WNB project is located within Railroad Valley, a valley that is over 100 miles long and 15 to 25 miles wide that drains a 3,000+ square mile area. Sampling of dry sediment in the basin has found lithium values ranging from 50 to 247 ppm. The higher lithium values were concentrated almost entirely over a 40-mile by 16-mile section that contains the WNB project. The current claim configuration also covers a massive gravity low feature. Oroplata’s planned drilling program will be optimized both in technology and locations so as best to test the brine horizons and examine the overall reservoir potential of the basin. Surficial and downhole geophysics will be employed to help generate a better understanding of the lateral extent of the brine horizons. The program will also be specifically designed to rapidly produce a resource and advance economic analysis by testing brine flow rates. Additional details relating to the drilling program will be released prior to the initiation of drilling.
Craig Alford, Oroplata’s CEO stated, “We are very excited to be readying ourselves for a drilling and geophysics program at the high-potential WNB lithium project in Nevada. Going forward, we will continue to take our responsibilities as an emerging publicly traded company very seriously. As such, in order to facilitate the timely and accurate release of information to our valued shareholders and the investment community, Oroplata will maintain its policy to disseminate corporate material exclusively through its website, filings with the SEC, and through Company issued press releases only. These channels offer the most efficient and transparent way to distribute our corporate message and provide all market participants with the most factual and up-to-date information publicly available. We caution readers that information and opinions of third party commentators are not issued by the Company, may contain inaccuracies or out-of-date information, and should not be solely relied upon when making investment decisions. Oroplata encourages all interested parties to review information and press releases available at its website and SEC.gov.”
About Oroplata: Oroplata Resources Inc. is focused on becoming a substantial profitable lithium producer by the rapid development of valuable production-grade lithium brine deposits in Nevada and throughout the southwest United States.
For more information about Oroplata Resources, visit:
IR Contact: Kingston Advisors
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