RE: Cruz Battery hits "significant intercepts" at Solar Old NR:
2021-12-17 07:05 ET - News Release
Mr. James Nelson reports
CRUZ BATTERY METALS ENCOUNTERS THE TARGETED POTENTIAL LITHIUM-BEARING CLAYSTONE IN EVERY DRILL HOLE IN NEVADA
Cruz Battery Metals Corp. has now completed the first phase of drilling on its 100-per-cent-owned Solar lithium project that directly borders American Lithium Corp.'s TLC project. Significant intercepts of the targeted potential lithium-bearing claystone formation were encountered in all the holes drilled in this phase. 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 surface and hole 3 was halted due to excessive snow in Nevada; however, a solid 100-foot claystone formation was intercepted, and the hole was stopped while still in this claystone formation. All samples are being rushed for assay to ALS. 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, stated: "We are absolutely thrilled with these initial results on the substantial 6,215-acre Solar lithium project in Nevada. Having intercepted significant footage of the targeted potential lithium-bearing claystone formation was exactly what we had hoped for when we started working on this project. Considering we are directly bordering American Lithium's TLC project, who also just announced significant claystone intercepts according to their news dated Dec. 1, 2021, of 'Claystone stratigraphy intersected ranges from 38 m to 96.9 m (125 to 318 ft) thick.' All samples from this maiden drill program have been rushed to ALS. When you factor in that lithium prices are currently at all-time highs, there couldn't be a better time for this to happen. We are eagerly awaiting the assay results and plan to immediately work on the next phase of drilling, which we anticipate will be significantly more extensive after the results of this small initial drill program. Management anticipates that 2022 will be a breakout year for Cruz."
Qualified person
The technical contents of this release were 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, comprising five in Ontario, four in British Columbia, two in Idaho and two in Nevada. Cruz's Nevada lithium projects consist of the about-6,215-acre Solar lithium project and the 240-acre Clayton Valley lithium project. Cruz's five 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 1,525-acre Coleman cobalt project, the 988-acre Johnson cobalt project, the 6,146-acre Hector cobalt project, the 1,458-acre Bucke cobalt project and the 1,453-acre Lorraine cobalt project.
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