Initial Drilling Expected to Commence by the End of April
INCLINE VILLAGE, NV / ACCESSWIRE / February 27, 2019 / 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 that it has contracted with Welsco Drilling, a Nevada-based driller and service provider for over 50 years.
LithiumOre has contracted with Welsco Drilling to drill the initial test hole on its Railroad Valley Lithium Exploration Project. Welsco has 50 years of experience conducting geothermal, water well, and mineral exploration.
Drilling is expected to commence in mid-April when ground conditions at the project improve.
Doug Cole, Chairman and Chief Executive Officer of LithiumOre, commented, "We selected one of the most experienced petroleum drilling companies in the U.S., that also has experience in aquifer drilling for lithium. We look forward to this next phase and will continue to keep shareholders and Wall Street updated on our progress."
Made in America, LithiumOre holds 1,300 lithium mineral claims, totaling 26,000 acres, located in Railroad Valley of 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 in planned on-site exploration.
About Welsco Drilling
Welsco Drilling Corporation began operation with an old cable tool back in 1973. The Corporation continued to drill water wells and provide pump services until the early 80s where work began with its first geothermal steam project. Since that time Welsco has honed its skills in the Geothermal Steam arena, has completed a multitude of water well projects and has added a 24-hour pump service. We are proud to foster a family environment within our corporation while supporting and encouraging our team to do the same. Our highly skilled and qualified team looks forward to providing you with our best.
For more information, please visit: http://www.welscocorp.com/
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
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.
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