Vancouver, British Columbia--(Newsfile Corp. - March 1, 2018) - Cruz Cobalt Corp. (TSXV: CUZ) (OTC Pink: BKTPF) (FSE: A2DMG8) is preparing an application for a drill permit on its 880-acre Idaho Star Cobalt Prospect and has retained Aaron Powell PLLC to assist in the Plan of Operation for the permit.
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James Nelson, President, 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 (AAPL-NASDAQ) 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."
The company 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, making Cruz one of the single largest landholders in the region. 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.
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.
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.
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 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.
The company will be attending the upcoming PDAC in Toronto, with James Nelson present at booth 3044 on March 4th and 5th.
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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