LithiumOre Corp, a wholly-owned subsidiary of Oroplata Resources Inc (OTCQB:ORRP), announced Thursday that drilling has reached a target depth of 3,000 feet ahead of schedule at its Railroad Valley lithium project in Nevada.
The Nevada-based mining company said in a statement that it was now gathering data.
Shares of parent Oroplata recently traded up 4.5% at $0.25 a piece on the OTC Markets.
READ: LithiumOre Corp to kick off drilling in mid-April at Railroad Valley lithium project in Nevada
LithiumOre 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.
The supply market for lithium is poised to become tight over the next decade.
LithiumOre holds 1,300 lithium mineral claims, totaling 26,000 acres in the Railroad Valley of Nye County, Nevada.
Contact the author: [email protected]
Follow him on Twitter @patrickmgraham