Cruz Cobalt Closes Montana Cobalt Project
Cruz Cobalt Corp. (CUZ—TSXv, BKTPF—OTCBB, A2AG5M–FSE) is pleased to announce that the company has closed on the recently announced Chicken Hawk Cobalt Prospect in Montana USA. This new prospect consists of 64 contiguous lode claims covering approximately 1,300 acres. The Chicken Hawk cobalt prospect claims are located on the western edge of the Boulder batholith and east of the Cordilleran fold and Thrust belt in southwestern Montana. Covering a boundary between a Cretaceous granodiorite and the Lowland Creek volcanics from the Eocene, the eight current claims are in the vicinity of a total of four volcanic rock suites. Cobalt, the primary targeted commodity of the Chicken Hawk, is occurring in the pyritized andesite and as cobaltian arsenopyrite; the sulphides are pnuematolytic in origin. The 64 claims surround four patented claims, no less than 15 unclaimed prospects, and three unclaimed adits.
Cruz President, James Nelson, stated, “We are pleased to have closed on this additional Cobalt Prospect. Cruz is focused on acquiring, developing or joint venturing high quality cobalt prospects. Cruz currently has approximately $1,950,000.00 in cash and securities on hand as of today and we plan to implement multiple work programs across multiple counties and provinces. Cruz has one of the largest land packages in the Cobalt Mining District in Ontario and we expect to be one of the most active companies in the district this next quarter.”
Recently Cruz also announced that management has commenced the application for an exploration permit on its Johnson Cobalt Prospect. This prospect is located in the vicinity of the city of Cobalt, home to one of the largest cobalt/silver districts in North America. This permit will cover the following activities of mechanized drilling, mechanized stripping, the pitting and trenching of bedrock, and line cutting.
Cruz currently has seven cobalt projects located in Canada, one in Idaho and now one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt making Cruz one of the largest land holders in this emerging cobalt district. The 900-acre Coleman cobalt prospect, the 900-acre Johnson Cobalt Prospect, the 5500 acre Hector Cobalt Prospect and the 1,480-acre Bucke Cobalt Prospect. Our 4935 acre War Eagle Cobalt Prospect in British Columbia covers a past-producing mine.
The technical contents of this release were approved by Greg Thomson, P.Geo., a qualified person as defined by National Instrument 43-101.
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