Vancouver, June 14, 2021 - Cruz Cobalt Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A2DMG8) ("Cruz" or the "Company") is pleased to provide an update on developments in the Clayton Valley. Recently (June 10, 2021), Schlumberger and Panasonic Energy of North America announced a collaboration agreement to optimize and validate a lithium extraction and production process to be used by Schlumberger New Energy at its NeoLith Energy pilot plant in the Clayton Valley using Pure Energy's land. Cruz lies directly in the deepest part of this basin that this work is being conducted (see map). According to Schlumberger's news "Neolith Energy's objective will be to pump brine from the subsurface, extract greater than 90% of the dissolved lithium, and pump more than 85% of the brine back to the subsurface in an environmentally safe manner. In addition to maximizing the reinjection of the brine, the goal is to eliminate the need for any fresh water from an external source and reduce the environmental impact."
Clayton Valley Ownership Map
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Jim Nelson, President of Cruz states, "We are pleased to have some of the largest energy and battery companies in the world take this project to the next level. Cruz is one of the very few companies that have land and access to the deepest part of this brine basin. The development of their pilot project will cost approximately USD 30 million. The expected surge in demand for lithium as the electric vehicle (EV) market takes off worldwide is immense and Cruz is geared for a busy summer working on our EV projects. We are well positioned and fully financed to work on projects in the cobalt camp of Ontario, the lithium brine basin in Clayton Valley as well as our cobalt project in Idaho."
Cruz's Ontario Silver-Cobalt Properties
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About Cruz Cobalt
Cruz currently has twelve projects located throughout North America, comprising five in Ontario, four in British Columbia, two in Idaho, and one in Nevada. Cruz's five separate Ontario projects are all located in the vicinity of the town of Cobalt, making Cruz one of the largest landholders in this historic silver-cobalt producing district. Cruz's Ontario projects, which are prospective for Cobalt, diamonds and silver include the 1,525-acre Coleman cobalt project, the 988-acre Johnson cobalt project, the 6,146-acre Hector cobalt project, the 1,458-acre Bucke cobalt project and the 1,453-acre Lorraine cobalt project. The company's BC projects include the 1,542-acre War Eagle cobalt project, the 2,552-acre Larry diamond project, the 5,572-acre Jax diamond project, and the 1,529-acre Mark diamond project. Cruz's USA projects include the 2,211-acre 'Idaho Cobalt Belt Project', the and the 80-acre 'Idaho Star Cobalt Prospect', and the 240-acre 'Clayton Valley Lithium Prospect' in Nevada. Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the Company's properties.
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Cruz Cobalt Corp.
"James Nelson"
James Nelson
President, Chief Executive Officer, Secretary and Director
For more information regarding this news release, please contact:
James Nelson, CEO and Director
T: 604-899-9150
Toll free: 1-855-599-9150
E: info@cruzcobaltcorp.com
W: www.cruzcobaltcorp.com
Twitter: @CruzCobalt
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