Cruz Cobalt Corp. Initiates Drill Permit Process for Idaho Cobalt Prospect

2018-02-28 / @nasdaq

VANCOUVER, B.C., Feb. 28, 2018 (GLOBE NEWSWIRE) -- Cruz Cobalt Corp. (TSXV:CUZ) (OTCBB:BKTPF) (FSE:A2DMG8) is pleased to announce that the company has started the process to apply for the drill permit on its Idaho Star Cobalt Prospect. Cruz has retained Powell PLLC to assist in the Plan of Operation for the drilling permit.

On February 14, 2018 Cruz increased its acreage in the Cobalt District of Ontario. 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 now making Cruz one of the single largest landholders in the cobalt region of Ontario.

Cruz President, James Nelson, stated, "We are pleased to accelerate the drilling process in Idaho. Cruz has amassed a stable of North American cobalt prospects over the past few years and we look forward to advancing these prospects in 2018. Cobalt prices continue to show strength and recent reports state that Apple is looking to secure a direct source of cobalt for the batteries 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.”

Ontario Cobalt Map

To view Ontario Cobalt Map, please visit:
http://orders.newsfilecorp.com/files/4754/33165_a1519769508115_57.jpg

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.

Cruz management will be presenting at the annual PDAC Convention in Toronto, Canada. PDAC is regarded as the premier international event for the mineral industry and is one of the world's largest mining investment conventions for people, companies and organizations involved with mineral exploration. PDAC attracts over 1,000 exhibitors, 3,800 investors and 24,000 attendees from 130 countries. Please feel free to come speak directly to Cruz President James Nelson in booth 3044 March 4-5, 2018.

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