HENDERSON, Nev., Nov. 08, 2016 (GLOBE NEWSWIRE) — Oroplata Resources, Inc. (OTCBB:ORRP) (“Oroplata” or the “Company) is pleased to announce that a surface sediment sampling program designed to test for Lithium (Li) values in playa sediments has returned significant geochemical results at the Company’s Western Nevada Basin project (“WNB”), in Nevada.
During the month of October the Company conducted geochemical sampling of sediment, rock and brine within and around the WNB project during the previously announced Phase One Short Field Program.
Lithium had been previously located at the WNB project area from sampling by the U.S. Geological Survey (USGS). The USGS sediment samples contained highly anomalous Lithium to values in soil considered as ‘ore grade’ as they are above that of the producing lithium brine at Clayton Valley, Nevada.
The company’s program was designed to test the efficacy of employing soil sampling and the accuracy of the original sampling by using sample waypoints directly at three of the USGS sample sites as well waypoints arranged along a 5.5 mile east-west corridor with sample stations along this trajectory. A total of thirty two (32) soil samples were collected both at the near surface (1 to 5 inches) and slightly deeper using a shallow auger sample (35 to 40 inches).
Samples were collected directly by Oroplata’s CEO, Craig Alford, PGeo., a Qualified Person, and personally transported to the Florin Analytical Services in Reno, Nevada for preparation and analysis. Samples were screened to -80 mesh at the Florin lab in Reno, Nevada, and analyzed by 24 element ICP analysis using a four acid digestion. A duplicate set was collected for QA/QC.
To date, the company has received results from 30 of the 32 soil samples and results are pending from rock and brine samples. All soil locations reported Lithium and 46% of the samples returned grades higher than 100 parts per million (ppm) Lithium, with grades up to 188 ppm from the sediment, confirming that lithium is present at the Project.
Of the sites tested for direct comparison against the previous USGS sample results, the dry near surface sediment samples conformed best with the USGS samples. The newer samples confirmed ‘ore grade’ results for Lithium and Boron, however our results were typically 17% less than USGS samples. Laboratory methodologies may explain the slight discrepancy.
Craig Alford, CEO of Oroplata Resources commented, “Confirming high lithium values at surface at the Western Nevada Basin Project is highly significant; this is a deep, massive closed basin with the potential to be Nevada’s largest Lithium brine target. We are all extremely excited about moving this project forward.”
The company plans to carry out additional exploration programs to determine the potential for an economic lithium brine deposit. Future exploration will consist of deeper auger sampling followed by a detailed geophysical program to define drill targets.
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.
About Oroplata Resources Inc.
Oroplata Resources, 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.