Cruz Cobalt increases landholdings in Ontario
2017-08-22 06:32 ET – News Release
Mr. James Nelson reports
CRUZ COBALT INCREASES LAND HOLDINGS AROUND THE TOWN OF COBALT IN ONTARIO, CANADA
Cruz Cobalt Corp. has increased its acreage near the town of Cobalt, Ont. The company has also just recently completed an airborne survey over all four of the cobalt prospects in Ontario and crews are currently working diligently on these prospects with a drill program being formulated.
Recently the company has also mobilized crews and has commenced a work program on Cruz’s 100-per-cent-owned Idaho Star cobalt prospect in Idaho.
Cruz president James Nelson stated: “We are pleased to be able to strategically increase our acreage bordering the Coleman cobalt prospect in the direct vicinity of the town of Cobalt, Ont. We are one of the most active junior cobalt companies in the area and with our recent start of operations in Idaho, Cruz is now one of the only junior cobalt companies active in multiple countries. We currently have more cash on hand than at any other point to undertake these work programs. With the planned upcoming drill program being finalized, Cruz will be 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 electric vehicles.”
Cruz currently has nine cobalt projects located throughout North America, comprising four in Ontario, three 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 city 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 5,000-acre Hector cobalt prospect and the 1,580-acre Bucke cobalt prospect. The company’s 4,935-acre War Eagle cobalt prospect in British Columbia covers a past-producing mine.
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