LithiumOre advances its processing plant by completing purchase of an additional 120 acres

LithiumOre, a wholly owned subsidiary of Oroplata Resources Inc (OTCQB:ORRP) announced Tuesday that it has completed the purchase of an additional 120 acres, which will be utilized for its lithium processing plant.

LithiumOre is a resource exploration and development company whose top focus is the establishment of a low-cost, environmentally sound production base to supply the rapidly growing lithium-ion battery industry for both mobile devices and laptops, as well as the burgeoning electronic vehicle industry.

Its focus is on hitting that target through the timely development of valuable production-grade lithium brine deposits in Nevada.

READ: LithiumOre says securing production-grade lithium brine deposits in Nevada sets it up for ‘exciting future’

”We are very excited with our position in Railroad Valley. We are establishing ourselves within the community and have attained great water rights, which are both key to creating value,” said LithiumOre CEO Doug Cole in a statement.

Cole had earlier told shareholders in a letter that the company owned 120 acres, including water rights, which will be utilized as a staging and processing area, within Railroad Valley. He had indicated that a drill program would commence in “spring 2019, consisting of 10+ wells.”

Railroad Valley lithium project

LithiumOre partner 3PL CEO Vince Ramirez maintains LithiumOre’s Railroad Valley Lithium Project is located at the center of “one of the largest brine deposits in the world.” Ramirez suggests there are “30 billion barrels of brine within the Railroad Valley brine pool.”

Railroad Valley is a large topographically closed playa basin (dry salt lake bed). “The basin is fault-bounded with numerous active thermal springs anomalous in lithium emerging along the faults,” noted the company.  

The fault sets have strike lengths of 25 to 30 miles and are parallel to each other, about 8 to 12 miles apart. The faults that bind the basin form an elongate rectangular shaped basin of about 300 square miles in size and numerous thermal springs emerge along the basin bounding fault systems.

“Thermal waters which discharge from the springs carry moderately anomalous values of Lithium,” the company added.

BIG PICTURE: LithiumOre takes aim at leading the lithium charge

The company will not only extract battery metals from its 26,000-acre land holdings in Nevada but will provide the technology as a service to other neighboring mining companies.

“This simultaneously creates a technology side to our business with an entirely new revenue stream independent of our mining operations and realizes our goal of becoming a fully integrated lithium mining and production company,” Cole had earlier told Proactive Investors.

“We end up as the toll booth for everybody,” Cole said in explaining the way other companies may have to pay them to extract their lithium.

Demand for lithium will continue to grow alongside electric cars and high-capacity electric storage.

The supply market for lithium is poised to become tight over the next decade, and that can be seen in its lofty spot price which is hovering at $18,000 per ton.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive 

Story by ProactiveInvestors