HENDERSON, Nev., July 29, 2016 (GLOBE NEWSWIRE) -- Oroplata Resources, Inc., (OTCBB:ORRP) (“Oroplata” or the “Company), is extremely pleased to announce that it has entered into a binding agreement (the "Agreement") with Plateau Ventures of Utah, to exercise its second option to acquire an additional 700 mining placer claims at the Western Nevada Basin project (“WNB”), in Nevada.
The original WNB project agreement covered 500 contiguous mining placer claims covering approximately 10,000 acres (See news releases dated June 1 and June 17, 2016). With the additional claims, Oroplata, will now hold approximately 24,000 acres. The company expects that all 1200 claims will be transferred to Oroplata’s Nevada subsidiary on or before August 31st, 2016. After the ownership of these rights are recorded at Nye County as well as at Bureau of Land Management, The Company will hold a 100% interest in the claims with no royalties at development.
About the Western Nevada Basin Project:
The WNB Project is located within the Railroad Valley, approximately 94 miles (151 kilometers) northeast of Tonopah, in Nye County, Nevada. The project can be accessed directly from U.S. Route 6. The Railroad Valley is one of Nevada’s largest trapped basins and is noted to hold all the necessary prerequisites for a massive Lithium Brine deposit.
The presence of Lithium in the valley was confirmed by the U.S. Geologic Surveys’ sediment sampling and Oroplata believes the WNB has the potential to host economic lithium-bearing brines in extensive subterranean aquifers beneath the valley floor. Historic and modern oil exploration and development data obtained by Oroplata indicate that favorable 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 have proven to be substantially cheaper to explore and develop compared to hard rock mining alternatives; additionally, Lithium brine mining can be achieved with a minimal carbon and environmental footprint.
“Lithium will be the underlying fuel that will drive the green economy that is already taking hold in Nevada,” comments Craig Alford, Oroplata’s CEO. “We are seeing massive development in and around the Tesla Gigafactory location. This directly translates to new jobs and a big economic kickstart to the green sector of the economy. It’s a tremor in something that will shake the world. Oroplata’s expansion, exploration and development are planned to progress hand-in-hand with the evolution of this green economy.”
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 the Railroad Valley in Nevada.
Legal Notice and Safe Harbor Statement
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 30th, 2015. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Oroplata Resources, Inc. 170 S Green Valley Parkway, Suite 300 Henderson, NV 89012 +1-702-318-7218
Source:Oroplata Resources, Inc.