- Cruz Battery Metals (CRUZ) has acquired another 1,920 acres in Nevada to add to its Solar Lithium Project
- The company decided to expand the project after receiving positive results from recent drilling
- The Solar Lithium Project now encompasses over 8,000 total contiguous acres
- Cruz Battery Metals acquires and develops high-grade metals projects for the rechargeable battery and renewable energy sectors
- Shares in Cruz Battery Metals (CRUZ) are up 8.89 per cent, trading at $0.245 per share
Cruz Battery Metals (CRUZ) has acquired another 1,920 acres in Nevada to add to its Solar Lithium Project.
On January 17, Cruz announced assays from its first phase of drilling at the Solar Lithium Project, which included multiple intercepts of potential lithium-bearing claystone and values up to 1,300 ppm/Li.
“Following the receipt of our initial drill results […], we immediately decided to acquire significant, additional strategically located acreage,” said Cruz president Jim Nelson.
The Solar Lithium Project directly borders American Lithium’s TLC project, which has a current market capitalization of approximately $650 million, says the company.
“We are planning an aggressive follow up drill program to test a larger portion of this property now that we know there is significant lithium present,” said Mr. Nelson.
“Our goal is to locate and provide a new, domestically sourced, battery grade lithium deposit,” he added, “and we are pleased to have these initial drill results right in the heart of the top lithium address in the USA.”
Cruz management cautioned that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the company’s properties.
Cruz Battery Metals acquires and develops high-grade metals projects for the rechargeable battery and renewable energy sectors.
Its assets include the Solar Lithium and Clayton Valley projects in Nevada, the Johnson, Hector, and Bucke cobalt projects in Ontario, the War Eagle cobalt project in British Columbia, and two cobalt projects in Idaho.
Shares in Cruz Battery Metals (CRUZ) are up 8.89 per cent, trading at $0.245 per share as of 10:01 am EST.