A Bull Run For Oroplata Resources Inc (OTCBB:ORRP)

Oroplata Resources Inc (OTCBB:ORRP) has been on a bull run ever since shares hit the OTC. Shares have run into resistance at $1.75 and if we break through that barrier, the bull run is set to continue. Judging from the latest PR, we believe more news is coming and that will allow ORRP to advance to the next level.Oroplata Resources Inc is focused on becoming a substantial profitable Lithium producer by the rapid development of valuable production-grade Lithium Brine deposits in Nevada and throughout the southwest U.S. ORRP has chosen to focus on Lithium brine and this is a smart move. 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.On June 1, ORRP announced that it entered into a binding purchase agreement to acquire the Western Nevada Basin project in Southwest Nevada. The Western Nevada Basin Project covers the south central portion of an area that was first identified as Lithium rich by the United States Geological Survey. The Project includes 500 mining claims covering approximately 10,000 acres. The company also has an option to acquire another 600 mining claims, approximately 22,000 acres.On June 24, ORRP announced that it entered into an agreement with the vendor of the Western Nevada Basin Project to immediately eliminate the existing net smelter royalty. With the elimination of the overriding NSR, Oroplata will now acquire a true 100% interest in the WNB Project. The vendors of the project agreed to remove the originally proposed NSR for a consideration of 636,943 shares of common stock in the company. ORRP CEO Craig Alford said:

“This cashless transaction to remove the potential burden of a long-term 3^rd party royalty is a significant achievement for the Company. It gives us full rights and control over the development of the exciting Western Nevada Basin Project and should make it much easier to negotiate any potential supply contracts with lithium carbonate end users as anticipated demand increases in the region.”

Oroplata has been able to confirm the the presence of highly anomalous Lithium values at the 100% owned Western Nevada Basin project. The company examined a large database of 2,809 dry surface sediment samples taken over a course of five years by the USGS, through the Western Nevada Basin project area, as well throughout a large (115 mile x 100 mile) block of central Nevada, of which a total of 1,640 samples had Lithium analysis conducted. The associated elements of Boron and Potassium were also evaluated and reviewed to enhance the search criterion. The highlights included:

• The average concentration in all the sediment samples surveyed through the large area were 36 ppm for Lithium, 31 ppm for Boron, and 17,793 ppm for Potassium
• Only 3% of the samples proved to have anomalous to exceptional Lithium and Boron values. These high values were concentrated almost entirely over a 40-by-16 mile section that contains the WNB project. Many of the Lithium values in this region returned 80 ppm to over 200 ppm Lithium.
• The maximum values for Lithium and Boron in the dry surface sediments was 247 ppm and 634 ppm respectively, which were located directly at the WNB project area.

Currently trading with a market cap of $57 million, ORRP has a seasoned management team behind it and a Lithium rich property with the Western Nevada Basin Project. As penny stock investors know, Lithium is one of the hottest sectors to be in right now. ORRP has also added political firepower by appointing House Minority Leader Nancy Pelosi's son Paul to its Advisory Board. As CEO Craig Alford said:

"I am extremely pleased that Mr. Pelosi has joined the Oroplata team. This is an unparalleled time in the growth of Lithium portable power and the Electric Vehicle marketspace. Paul will provide invaluable insight, guidance and connections in the regulatory and environmental landscape. We look forward to working with him as we focus on providing clean energy to the fastest growing Lithium commodity market worldwide.”

We will be updating Insider Financial as soon as we know more. For continuing coverage on ORRP, sign up for our free newsletter today and get our next hot stock pick as well as a free ebook!Disclosure: We have no position in ORRP and have been compensated $7500 for a 2 day awareness campaign by Rich Team Consultants Ltd. for 7/19 and 7/20.