RETRANSMISSION: Cruz Battery Metals Expands Solar Lithium Project in Nevada Directly Bordering American Lithium Corp.
Vancouver, January 31, 2022 - Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A3CWU7) ("Cruz" or the "Company") is pleased to announce that it has expanded the 100-percent owned 'Solar Lithium Project' in Nevada by approximately 1,920 contiguous acres to now encompass 8,135 total contiguous acres. The 'Solar Lithium Project' directly borders American Lithium Corp.'s TLC project (see map below). This strategically located land was added based on the data gathered so far on the 'Solar Lithium Project'.
On January 17, 2022, the Company announced assays for first phase of drilling on the 'Solar Lithium Project'. 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. Hole-3 was stopped while still drilling the targeted claystone due to a blizzard that made drilling impossible. 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 states, "Following the receipt of our initial drill results on the Solar Lithium Project in Nevada, we immediately decided to acquire significant, additional strategically located acreage, which directly borders American Lithium Corp.'s TLC project, who have a current market capitalization of approximately $650 million. The Solar Lithium property is one of the largest in the region, and we have drilled less than 10 percent of this large land package. 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. This new discovery is coming at a time when lithium prices are at all-time highs. Our goal is to locate and provide a new, domestically sourced, battery grade lithium deposit and we are pleased to have these initial drill results right in the heart of the top lithium address in the USA. Management is very optimistic about what this project will mean for Cruz in the near and long term, and we are very bullish for 2022 and beyond."
Figure 1: Cruz Ownership Map
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Qualified Person
The technical contents of this release were approved by Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101. These new claims were acquired via staking.
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 three separate Ontario projects are all located in the vicinity of the town of Cobalt, making Cruz one of the largest landholders in this historic silver-cobalt producing district. Cruz's Ontario projects, which are prospective for cobalt, silver, and diamonds, include the 988-acre Johnson cobalt project, the 6,146-acre Hector cobalt project, and the 1,458-acre Bucke cobalt project. Cruz's BC project is the 1,542-acre War Eagle cobalt project. 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.
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"James Nelson"
James Nelson
President, Chief Executive Officer, Secretary and Director
For more information regarding this news release, please contact:
James Nelson, CEO and Director
T: 604-899-9150
Toll free: 1-855-599-9150
E: info@cruzbatterymetals.com
W: www.cruzbatterymetals.com
Twitter: @CruzBattMetals
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