VANCOUVER, British Columbia, April 12, 2018 (GLOBE NEWSWIRE) -- Cruz Cobalt Corp. (TSXV:CUZ) (OTCBB:BKTPF) (FSE:A2DMG8) is pleased to announce that the company has strategically increased its landholdings around the town of Cobalt, Ontario. 305 new claim units (cells) were added. Cruz is one of the largest landholders in the expanding Cobalt District of Ontario.
On February 14, 2018 Cruz increased its acreage in the Cobalt District of Ontario. That acreage is contiguous to Cruz’s “Lorraine Cobalt Prospect” which now consists of 10,556 contiguous acres bordering First Cobalt Corp. (FCC-TSX.v) in the direct vicinity of the town of Cobalt, Ontario.
Cruz President, James Nelson, stated, "We are very pleased to have added to our holdings in the Cobalt Camp of Ontario. We are one of the largest landholders in the region. Cobalt prices continue to show strength and have traded to 10 years highs of over $43 per pound in the past month. Also, recent reports state that Apple (AAPL-NASDAQ) is looking to secure a direct source of cobalt for the batteries used in their products. The supply of ethically mined cobalt outside of the DRC is tight and any new supply would be welcomed by buyers such as all the car companies and cell phone companies. The demand for battery metals appears to be at the start of long term super cycle and Cruz has positioned itself early to take advantage of this boom. Cruz has a strong cash position and we plan to deploy this cash aggressively and strategically in 2018.”
Recently (January 22, 2018) Cruz increased its acreage on the “Purcell Cobalt Prospect” from 671 acres to 11,821 acres, consolidating the previous two separate Purcell prospects into one much larger contiguous prospect. Also on January 16, 2018 Cruz increased 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. Cruz 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, 2018). Management is now working diligently on advancing these two BC cobalt prospects.
Cruz currently has nine cobalt projects located throughout North America, comprising of five in Ontario, two in British Columbia, one in Idaho and one in Montana. Cruz's five 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, the 1,580 acre Bucke cobalt prospect and now the 10,556 Lorraine 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. These new claims were acquired via the MLAS online site. Our maps and exact acreage will be updated once available on the MLAS site.
If you would like to be added to Cruz’s email list please send an email to info@cruzcobaltcorp.com or twitter @CruzCobalt.
James Nelson
President
604.899.9150
Toll free 1.855.599.9150
www.cruzcobaltcorp.com
twitter @CruzCobalt
