RENO, NEVADA–(Marketwired – June 1, 2016) – Oroplata Resources, Inc., (OTCBB:ORRP) is extremely pleased to announce that it has entered into a binding purchase agreement (the “Agreement”) to acquire the Western Nevada Basin project (“WNB”), in Southwest Nevada.
The WNB Project covers the south central portion of an area that was first identified as Lithium rich by the USGS (United States Geological Survey). The Project includes 500 mining claims covering approximately 10,000 acres, the company has an option to acquire another 600 mining claims, approximately 12,000 acres. Oroplata will acquire a 100% interest in the WNB project. The vendors of the project will retain a royalty equal to 2% of the gross value of mineral products recovered from commercial production, which may be reduced to 1% with a single payment of $1,000,000 (one million U.S. Dollars) at any time prior to production.Lithium Brine projects have a number of significant advantages over conventional hard rock Lithium mining projects; they are cheaper to explore compared to the alternatives; they are quicker in proving up a resource and reserves; they are faster and much less capital intensive to put into production. Lithium brine production also has a much smaller environmental footprint and produces ready-to-ship Lithium carbonate.
Source: Oroplata Acquires Lithium Property