Western Nevada Basin in Railroad Valley, Nevadahttps://www.baystreet.ca/viewarticle.aspx?id=484258 Proceeds to Fund Lithium Exploration in the Western Nevada Basin in Railroad Valley, Nevada
INCLINE VILLAGE, NV / ACCESSWIRE / December 14, 2017 / LithiumOre (https://lithiumore.net) (the "Company"), a wholly-owned subsidiary of Oroplata Resources, Inc. (OTC PINK: ORRP), a lithium resource exploration and development company, is pleased to receive financial support and commitment from its primary financial partner, Tangiers Capital.
Tangiers Capital has extended the maturity of their current Notes for one year and has agreed to waive all potential default fees. This flexibility and commitment to provide additional capital demonstrated their faith in LithiumOre's management team and land assets.
LithiumOre Chairman and CEO Doug Cole commented, "We are thrilled that Tangiers Capital has partnered with us and shares a vision for the tremendous value in our land assets in the Western Nevada Basin. They are a great partner and are committed to our company and our management team. We look forward to working together and creating value for our shareholders."
The Company holds approximately 250 accepted lithium mineral claims, totaling 5,000 acres, located in the Western Nevada Basin, situated in Railroad Valley in 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 targeted for planned on-site exploration expected to begin in the first half of 2018.