HENDERSON, Nev., Sept. 08, 2016 (GLOBE NEWSWIRE) -- Oroplata Resources, Inc. (“Oroplata” or the “Company”) (OTCBB:ORRP) today announced details of its planned 2016 Short Work Program at the Western Nevada Basin Lithium Project in Nevada.
“This drilling and sampling focused work program will directly examine lithium enriched tuff horizons through direct sampling across our WNB property and should generate lithium values both laterally and vertically through the project area,” commented Oroplata CEO, Craig Alford. “This method has already been proven extremely effective at other now productive lithium brine operations, including Clayton Valley in Nevada.”
Oroplata’s 2016 Short Work Program at the WNB Lithium Project is planned to include the re-entry of a series of currently shut-in oil wells to conduct vertical analysis of several known and potential lithium bearing brine horizons by perforation of the well casing at numerous depths. Testing of lithium bearing brine horizons from active oil wells is also planned in various areas, if available.
Craig Alford concluded, “We expect that completing this work program in 2016 will provide us with the additional subsurface data required to generate the most detailed proprietary geologic stratigraphic model for the Western Nevada Basin area ever created. This will be a great benefit to us as we plan the future development of the project.”
The Company anticipates releasing additional details regarding the planned 2016 Short Work Program at Western Nevada Basin Lithium Project within the next 2 weeks.
About the Western Nevada Basin (WNB) Project
The WNB Project is located within 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.
Oroplata Resources Inc., through its wholly-owned subsidiary, Lithortech 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 U.S.
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.
Source:Oroplata Resources, Inc.