Cruz Cobalt Corp. (CUZ—TSXv, BKTPF—OTCBB, A2DMG8–FSE) is pleased to announce that the company has significantly increased its acreage on its 100% owned Purcell cobalt prospects in BC. Cruz has now increased the acreage on the Purcell cobalt prospects from 671 acres to now be 11,821 acres, consolidating the previous two separate Purcell prospects into one much larger contiguous prospect. We have also just recently completed an airborne survey over the War Eagle and Purcell cobalt prospects in BC and uncovered strong magnetic anomalies (announced January 19, 2017). Management is now working diligently on advancing these two cobalt prospects.
Recently, the company also tripled its landholdings surrounding the War Eagle cobalt prospect in BC. Cruz now has a 100% interest in 15,219 acres on the War Eagle cobalt prospect and 11,821 acres on the Purcell prospect.
Cruz President, James Nelson, stated, “We are pleased to have significantly increased our acreage in BC on both the Purcell and War Eagle cobalt prospects. The airborne data shows strong magnetic anomalies extending into the new acreage acquired in this emerging cobalt camp. We plan to get on the ground as soon as possible to incorporate the new airborne data with ground proofing. We currently have more cash on hand than at any other point to undertake our multiple planned work programs. Cruz is in a prime position to take advantage of the continued global focus on ethically sourced cobalt to supply the exploding demand for lithium/cobalt based batteries primarily for use in electric vehicles. Cruz has prospects in what we feel are most of the prime cobalt camps in North America and we are very optimistic that 2018 will be a breakout year for cobalt prices.”
Cruz currently has eight cobalt projects located throughout North America, comprising of four in Ontario, two in British Columbia, one in Idaho and one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the town of Cobalt making Cruz one of the largest landholders in this emerging cobalt district. Cruz’s Ontario projects include the 1,265 acre Coleman cobalt prospect, the 900 acre Johnson cobalt prospect, the 4,980 acre Hector cobalt prospect and the 1,580 acre Bucke cobalt prospect. The company’s BC prospects include the 15,219 acre War Eagle cobalt prospect and the 11,821 acre Purcell prospect. Cruz’s USA projects include the 1,940 acre Chicken Hawk prospect in Montana and the 880 acre Idaho Star prospect. This new acreage of was acquired via MTOnline.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
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