Twitter Facebook LinkedIn YouTube

Cruz Cobalt Corp. (TSXV:CUZ) Strategically increased its landholdings around the town of Cobalt, Ontario.

Video Platform Video Management Video Solutions Video Player

With this acquisition of 305 new claim units in the Cobalt district of Ontario, the company continues to build on its position as the foremost cobalt project generator and developer in North America.

Additional Information:

Company: Cruz Cobalt Corp.
Website: http://www.cruzcobaltcorp.com
Stock Symbol: TSXV: CUZ
Date Published: Apr 12, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Cruz Cobalt Corp. has strategically increased its landholdings around the town of Cobalt, Ontario.

With this acquisition of 305 new claim units in the Cobalt district of Ontario, the company continues to build on its position as the foremost cobalt project generator and developer in North America.

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.

James Nelson, President, stated: "We are very pleased to have added to our holdings in the Cobalt Camp of Ontario. We are one of the largest landholders in the region. Cobalt prices continue to show strength and have traded to 10 years highs of over $43 per pound in the past month. Also, recent reports state that Apple (AAPL-NASDAQ) is looking to secure a direct source of cobalt for the batteries used 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. Cruz has a strong cash position and we plan to deploy this cash aggressively and strategically in 2018.”

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.

In February, the company added additional acreage contiguous to its “Lorraine Cobalt Prospect” which 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.

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.

Also in January, Cruz 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.

The company 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 shares are trading at $0.275.

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.

I’m Samantha Deutscher for Investmentpitch Media