The Coleman Cobalt Prospect is one of four cobalt prospects in Ontario currently held by Cruz.
The Coleman Cobalt Prospect, comprising of approximately 1,265 contiguous acres, is located in the Larder Lake mining division of Ontario. According to the Province of Ontario mineral file MDl31M05N00197, the property returned grades of up to 13% cobalt and appear to be an extension of the Tretheway veins. We look forward to commencing operations on this prospect to evaluate and follow up on the historic data gathered.
Cruz President, James Nelson, stated, “Cruz has been able to acquire, what we feel is one of the best collections of cobalt prospects in North America. Cruz’s four separate Ontario cobalt prospects, according to government mineral files, returned cobalt grades of 13% on the 1,265 acre Coleman Cobalt Prospect and 10.5% cobalt on the 900 acre Johnson Cobalt Prospect. The 5,000 acre Hector Cobalt Prospect was a past producing cobalt mine and the 1,580 acre Bucke Cobalt Prospect returned cobalt grades of 13%. Our War Eagle Cobalt Prospect in British Columbia covers a past producing mine as well and returned assays of 6.5% Cobalt. Based on these projects, management feels that Cruz has amassed a quality portfolio of Cobalt assets that have some of the highest historic cobalt grades in North America, which sets Cruz apart from most cobalt companies in the junior space. We feel that 2017 will be a break out year for cobalt prices and Cruz is well positioned to take full advantage of this. We plan to commence full operations on all of these projects with our goal to make Cruz the “go-to” North American Cobalt project generator and developer. 2017 will be an extremely active year for Cruz and management is optimistic about what will be discovered by Cruz on our cobalt properties.”
Cruz is actively engaged in acquiring and developing high grade Cobalt projects in politically stable, environmentally responsible and ethical mining jurisdictions. Cruz has already acquired several high-grade cobalt projects across North America. Seven cobalt projects are located in Canada, one in Idaho, and one in Montana. The goal of the company is to make Cruz the foremost cobalt project generator and developer on the TSX Venture Exchange. Management feels that cobalt is at the early stages of a significant bull market and we are pleased to be positioning Cruz at the forefront of this cycle.
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