About Cruz Battery Metals
A phase-4 drill program is NOW UNDERWAY on the 100-percent owned, 8,135-acre Solar Lithium Project in Nevada, directly bordering American Lithium Corp.’s (AMLI – Nasdaq, LI – TSX.v) TLC project (see map below)
Cruz Discovers Lithium in Every Drill Hole of the Phase-3 Drill Program, Including the Highest Lithium Value to Date, on the Solar Lithium Project in Nevada, Directly Bordering American Lithium Corp.’s (AMLI – NASDAQ, LI-TSX.v) TLC Project (who have a current market cap of approx ~$600 million). On January 17, 2023, American Lithium Corp. announced a resource estimate, in an independent National Instrument 43-101 titled “Technical Report TLC Property” prepared by Stantec Consulting Ltd., for the TLC lithium claystone property containing 8.83 million tonnes lithium carbonate equivalent (LCE) measured & indicated with another 1.86 million tonnes LCE inferred (See map below).
The phase-3 drill program discovered the presence of lithium in all 4 drill holes with a high value of 1,460 parts-per-million lithium (ppm Li). Hole-6 had a high of 1,460 ppm Li including 871 ppm Li over 50 feet. Hole-7 had a high of 1,220 ppm Li including 873 ppm Li over 47 feet, starting at 18 feet. Hole-8 had a high of 1,240 ppm Li. Hole-9 had a high of 1,160 ppm Li
This, and other recent developments have sparked a renewed interest in Cruz at a time when the demand for battery metals has never been stronger. Cruz is in a great position to capture additional market share within the insatiable battery metals super cycle as the Company prepares to enter the most active time in recent history.
Cruz Battery Metals has now discovered lithium in every hole drilled to date on the Solar Lithium Project in Nevada. Cruz has discovered lithium in all 10 holes drilled on the Solar Lithium Project during phases 1, 2 & 3.
Cruz Battery Metals’ Phase II drill program discovered lithium on the Northern section of the Solar Lithium Project in Nevada. During the phase I drill program, Cruz Battery Metals drilled a significant new lithium discovery in Nevada with values as high as 1,300 ppm Li. Multiple intercepts of the targeted potential lithium-bearing claystone formation were encountered in all the holes drilled in this initial phase of drilling. Values in Hole-1 were as high as 1,300 ppm Li and encountered lithium bearing clays from 10 feet to 200 feet with a 60-foot intercept averaging 968.33 ppm Li. Hole-2 had a high value of 1120 ppm/Li including a 60-foot interval averaging 768 ppm/Li.
Prior to receiving the drill results, significant intercepts of the targeted potential lithium-bearing claystone formation were encountered in all the holes drilled in phase I. Hole 2 encountered a very substantial 345 feet of the targeted potential lithium-bearing claystone. Hole 1 intercepted approximately 180 feet of claystone formation starting from 10 feet below the surface. Cruz’s sampling program discovered 5 separate samples with lithium values over 1059 and one as high as 1610 ppm Li.
Cruz also has exposure to the lithium market through its strategically located ‘Clayton Valley Lithium Project’ in Nevada, USA. Nevada lithium companies have recently experienced a resurgence since Tesla’s Battery Day, held on September 22, 2020, where Tesla’s Elon Musk announced their intention to acquire Nevada lithium projects and their overwhelming need to secure domestic lithium deposits to feed their Gigafactory. Also in Nevada, energy behemoth Schlumberger (SLB-NYSE), through its strategic partnership with Pure Energy Ltd. (PE-TSX.v) is building a lithium brine pilot plant with approximately $30 million USD being spent in developments, directly bordering Cruz’s Clayton Valley lithium project. As an early mover in this play, Cruz is one of the few companies (Albermarle, Pure Energy, Spearmint Resources & Sienna Resources) to have access to the deepest parts of the only lithium brine basin in production in North America.
As you can see there are many exciting and compelling things coming ahead for Cruz which is why you should be paying close attention to the company right now. Cruz is fully-funded for all 2023 drill programs.
Cruz Battery Metals Phase-4 Drill Program Now Underway on the Solar Lithium Project in Nevada
May 29, 2023 – Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A3CWU7 (“Cruz” or the “Company”) wishes to announce that the phase-4 drill program is now underway on the 100-percent owned, 8,135-acre Solar Lithium Project in Nevada, directly bordering American Lithium Corp.’s (AMLI – Nasdaq, LI – TSX.v) TLC project (see map below). To date, the Company has now discovered the presence of lithium in every drill hole during the phase 1, 2 & 3 drill programs.
Frank Bain, the on-site PGeo and a director of Cruz Battery Metals, stated: “The phase-4 drill program is designed to test the eastern flank of the Solar Lithium Project, which has not had any drilling to date. If Cruz can achieve similar lithium grades on the phase-4 drill program that we’ve already encountered during the first 3 phases of drilling, it would significantly expand the known lithium footprint on this project.”
The ‘Solar Lithium Project’ directly borders American Lithium Corp.’s (AMLI – Nasdaq, LI – TSX.v) TLC project. On January 17, 2023, American Lithium Corp. announced a resource estimate, in an independent National Instrument 43-101 titled “Technical Report TLC Property” prepared by Stantec Consulting Ltd., for the TLC lithium claystone property containing 8.83 million tonnes lithium carbonate equivalent (LCE) measured & indicated with another 1.86 million tonnes LCE inferred. Cruz Management cautions 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.
Jim Nelson, President of Cruz Battery Metals stated, “We look forward to stepping out to the East to explore a new area of this project. The phase-4 drill program is Cruz’s second lithium drill program of 2023, and we anticipate at least one additional phase of drilling on the 8,135-acre Solar Lithium Project within this calendar year. To date, all three phases of drilling have discovered the presence of lithium in every hole, and we’ve still only explored a small fraction of the property. Cruz is one of the largest landholders in the Big Smoky Valley of Nevada, directly bordering American Lithium. Cruz is well-funded to complete all planned drilling this year and we anticipate generating our maiden resource estimate before the end of the year. The remainder of 2023 will be very active as we enter a major news flow cycle with several potential catalysts ahead.”
Figure 1: Cruz Ownership Map
The technical contents of this release were reviewed and approved by Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101.
About Cruz Battery Metals Corp.
Cruz currently has several projects located throughout North America. Cruz’s Nevada lithium projects consist of the 8,135-acre ‘Solar Lithium Project’ and the 240-acre ‘Clayton Valley Lithium Project’. Cruz’s 6,146-acre Hector cobalt project is located in the vicinity of the town of Cobalt, Ontario, which is prospective for cobalt, silver, and diamonds. Cruz’s Idaho projects include the 2,211-acre ‘Idaho Cobalt Belt Project’ and the 80-acre ‘Idaho Star Cobalt Project’. Management cautions 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.
If you would like to be added to Cruz’s news distribution list, please send your email address to [email protected]
Cruz Battery Metals Corp.
President, Chief Executive Officer, Secretary and Director
For more information regarding this news release, please contact:
James Nelson, CEO and Director
Toll free: 1-855-599-9150
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