Vancouver, British Columbia--(Newsfile Corp. - January 17, 2018) - Cruz Cobalt Corp. (TSXV: CUZ) (OTC Pink: BKTPF) (FSE: A2DMG8) triples its land holdings surrounding the War Eagle cobalt prospect in southeast British Columbia, which covers a past-producing mine, increasing the acreage from 4,935 acres to 15,219 acres.
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The company recently secured the services of Precision GeoSurveys to conduct the airborne work program over Cruz's BC cobalt properties. The airborne survey is the first of several work programs that are being formulated.
James Nelson, President, stated, "We continue to accumulate cobalt assets and acreage with a mandate to focus on ethically sourced cobalt. The global demand for cobalt has never been higher. Recently, there has been talk out of the Democratic Republic of the Congo stating that a new tax for mining and specifically cobalt may be implemented. This would create an additional demand for ethically sourced cobalt. In addition, President Trump has announced that the USA wants to domestically source battery metals such as lithium and cobalt to avoid foreign imports of these strategic commodities. This is a very positive step as Cruz has projects in Canada as well as in Idaho and Montana. We plan to be active on both of the USA Cobalt projects in 2018 and currently are active in Canada. We are very optimistic about 2018 as we enter the year with more cash in the bank than any other time and cobalt prices at nine year highs."
As an early mover in the Cobalt space Cruz was able to acquire 9 of the best available, under-developed, historically high-grade Cobalt prospects across North America, with four properties in Ontario, three in British Columbia, and 2 in the United States.
Cruz's four 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 and the 1,580-acre Bucke cobalt prospect.
Cruz has recently mobilized crews and commenced work programs on its 100-per-cent-owned 1,940-acre Chicken Hawk cobalt prospect in Montana, USA. The company has also recently mobilized crews and commenced work programs on its 100-per-cent-owned 880-acre Idaho Star cobalt prospect.
The shares are trading at $0.345 and with 72 million shares outstanding, the company is capitalized at $24.8 million.
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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