Cruz Capital Corp (CUZ—TSXv, BKTPF—USA, A2AG5M–Germany) is pleased to announce that the company has increased the property by 22 claim units to now comprise of approximately 900 acres. The Johnson Cobalt Prospect is one of 4 cobalt prospects in Ontario that the company controls. Management expects to commence operations in Ontario shortly utilizing the flow through funds on hand.
The Johnson Cobalt Prospect consists of approximately 900 acres in the Kirkland Lake mining district of Ontario. According to file MDl31M05NE00120 from 1980, grab assays over 300 metres returned up to 10.5% cobalt, 69 g/t AG, 12% NI and .4% CU. The company plans to commence work to fully assess this property shortly.
Cruz President, James Nelson, stated, “This is a very exciting time for Cruz management and shareholders. We are coming into a period of significant activity on our cobalt assets. We feel that cobalt is at the earliest stages of a bull market for cobalt prices. Cruz has established itself at the forefront in the junior cobalt space as we now currently have 8 separate projects in the politically safe jurisdiction of North America.”
Cobalt prices have continued to show strength and once again closed at 6 month highs.
Cruz is actively engaged in acquiring and developing Cobalt assets in North America. Cruz has acquired numerous high grade cobalt assets located in North America. Seven cobalt projects are in Canada and one in Idaho. The goal of the company is to make Cruz the foremost cobalt project generator and developer on the TSX Venture Exchange. Management feels that cobalt is at the early stages of a significant bull market and we are pleased to be positioning Cruz at the forefront of this cycle.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report.
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