Cruz Cobalt Adds to its Extensive Cobalt Property Portfolio in Ontario - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - February 15, 2018) - Cruz Cobalt Corp. (TSXV: CUZ) (OTC Pink: BKTPF) (FSE: A2DMG8) continues to build on its position as the foremost cobalt project generator and developer in North America with the recent acquisition of additional property in the Cobalt district of Ontario. This area is historically the most prolific cobalt mining camp in Canada, having produced 50 million pounds of cobalt and 600 million ounces of silver over a 60-year period.
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James Nelson, President, stated: "We are pleased to further expand our acreage in the historic cobalt camp in Ontario. Cruz is one of the single largest landholders behind First Cobalt Corp with 5 separate cobalt prospects in the region. We feel that consolidation of the cobalt camps globally is inevitable and we are positioning Cruz to be a significant participant in the emerging Ontario Cobalt District. We plan to be very active in Ontario in 2018. The price per pound of cobalt has again made a new 10-year high this week, and cobalt has never been more in focus as the world is moving towards full scale electric car adoption. The demand for battery metals appears to be at the start of long term super cycle and Cruz is positioning itself early for this cycle."
The new acreage is contiguous to the "Lorraine Cobalt Prospect" and now consists of 10,556 contiguous acres bordering First Cobalt Corp., in the direct vicinity of the town of Cobalt, Ontario.
As an early mover in the Cobalt space Cruz was able to acquire several of the best available, under-developed, historically high-grade Cobalt prospects across North America, and now holds five properties in Ontario, two in British Columbia, and two in the United States.
Cruz's other Ontario projects include the 1,265-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 4,980-acre Hector cobalt prospect and the 1,580-acre Bucke cobalt prospect.
Cruz recently increased its acreage on the "Purcell Cobalt Prospect" in BC from 671 acres to 11,821 acres, consolidating the previous two separate Purcell prospects into one much larger contiguous prospect. Also in January, Cruz increased its landholdings surrounding the War Eagle cobalt prospect in BC, giving the company a 100% interest in 15,219 acres on the War Eagle cobalt prospect.
The company also just recently completed an airborne survey over the War Eagle and Purcell cobalt prospects in BC and uncovered strong magnetic anomalies, and is now working diligently on advancing these two BC cobalt prospects.
Cruz has mobilized crews and commenced work programs on its 100-per-cent-owned 1,940-acre Chicken Hawk cobalt prospect in Montana, USA, and its 100-per-cent-owned 880-acre Idaho Star cobalt prospect.
For more information, please visit www.cruzcobaltcorp.com, contact James Nelson, President, at 604-899-9150 or toll free at 1-855-599-9150 or email info@cruzcobaltcorp.com.
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