LithiumOre Corp, a wholly-owned subsidiary of Oroplata Resources Inc (OTCQB:ORRP) announced Tuesday that it will kick off its first exploration and production drill in mid-April at its Railroad Valley lithium project in Nevada.
The Nevada company’s drilling contractor is Welsco and the project’s lead drill manager will be George Scheid, who now works as the senior drill project manager at Teton Energy Services and has more than 30 years of on-site experience.
“We’re drilling!” exulted the company, while adding that the drill program marked the culmination of years of “careful planning and preparation.”
READ: LithiumOre reports commercial quantities of soda ash and potash at Railroad Valley project in Nevada
Welsco will drill the initial test hole on its Railroad Valley lithium project in Nevada. Welsco has nearly 50 years of experience in conducting geothermal, water well and mineral explorations.
LithiumOre Corp 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.
LithiumOre holds 1,300 lithium mineral claims, totaling 26,000 acres in the Railroad Valley of Nye County, Nevada.
Key geophysical survey in progress
Zonge International, a provider of field services, and consulting to geoscientists is also conducting a geophysical survey in the “deepest part of the Railroad Valley Basin as defined by gravity and historic oil wells,” said the company.
The geophysical survey is important because data will be combined with existing gravity, seismic, and oil well geophysical surveys to refine targets for future drilling.
Demand for lithium is expected 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]