LithiumOre Corp reported Monday commercial quantities of soda ash and potash in the brine pool at its Railroad Valley lithium project in Nevada.
The exploration company said in a statement that the findings dramatically bolster its commercial outlook.
The Railroad Valley brines may contain multiple minerals along with sulfates and carbonates, according to LithiumOre
The company said it is consulting with scientists to explore the possibility of cost-effectively recovering high-value minerals with an emphasis on chemicals used in the battery industry.
The unit of Oroplata Resources Inc (OTCMKTS:ORRP) holds 1,300 lithium mineral claims, totaling 26,000 acres, in Railroad Valley.
Railroad Valley, according to Lithium Ore, is one of Nevada's largest trapped basins and is said to hold all of the necessary commercial and engineering prerequisites for a massive lithium brine deposit.
The claims have been evaluated by the Bureau of Land Management and are undergoing on-site exploration, the company said.
Shares of Oroplata traded Monday at $0.22 on the OTC Markets. The LithiumOre parent said earlier this month that it is changing its name to American Battery Metals Corp.
Last week LithiumOre said it would begin drilling its first exploratory and production well at Railroad Valley on April 8.
Contact Dennis Fitzgerald at [email protected]