CRUZ update!! Thank you for your interest in Cruz Battery Metals Corp. Company Highlights: - Phase-5 Drill program expected to begin shortly
- Cruz is fully-funded to complete all planned drilling this year and we anticipate generating our maiden resource estimate in 2024
- Cruz Battery Metals has now discovered Lithium in all 14 holes drilled to date during the phase 1, 2, 3 & 4 drill programs on the 100%-owned 8,135-acre ‘Solar Lithium Project’ in Nevada, directly bordering American Lithium Corp (AMLI - NASDAQ, LI-TSX.v)
- Cruz’s Phase-4 Drill Program Confirms Lithium Mineralization is Open in All Directions on the Solar Lithium Project
- Cruz Discovered Lithium in Every Drill Hole of the Phase-3 Drill Program, Including the Highest Lithium Value to Date of 1,460 ppm Li
- Cruz’s phase II drill program discovered lithium on the Northern section of the Solar Lithium Project
- Cruz encountered 700 continuous feet of the targeted potential lithium-bearing claystone from the first hole of the phase II drill program on the Solar Lithium Project
- 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
- Cruz's sampling program 'Solar Lithium Project' in Nevada encountered several results over 1059 ppm Li including lithium values as high as 1,610 ppm Li
- In Clayton Valley, Nevada, Cruz is one of the few companies to have access to the deepest parts of the only lithium brine basin in production in North America
Cruz's Phase-4 Drill Program Confirms Lithium Mineralization is Open in All Directions on the Solar Lithium Project in Nevada, Directly Bordering American Lithium Corp. Cruz Battery Metals Corp. has received drill results from the phase-4 drill program 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). Three Reverse Circulation (RC) drill holes from the phase-4 drill program were submitted for assaying; all three drill holes discovered the presence of lithium. Solar-13, the farthest North RC hole, had a high value of 1,050 parts-per-million lithium (ppm Li), including 626 ppm Li over 130 feet. Solar-11 had a high value of 950 ppm Li, including 612 ppm Li over 60 feet. Solar-10, Cruz’s Southernmost drill hole, located immediately North of the American Lithium Claim boundary, had a high of 1,060 ppm Li, including 476 ppm Li over 70 feet.
Frank Bain, the on-site Project Geologist, Qualified Person and a director of Cruz Battery Metals, stated: “Assays have been received from ALS Global for the recently completed Phase 4 drilling program. All holes discovered lithium mineralization with thicknesses varying from 70 to 135 feet. The drilling confirmed that the mineralization is open in all directions from the Phase-4 holes. The Phase-5 drill holes have been permitted and will test for lithium mineralization both North, West and South of the Phase-4 drill sites. Drilling is expected to recommence shortly."
Cruz is fully-funded to complete all planned drilling this year and we anticipate generating our maiden resource estimate in 2024.
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.
In other recent news from the Big Smoky Valley, On February 28, 2023, American Battery Technology Co. (ABML - OTCQX) announced “One of the Largest Known Lithium Deposits in US Identified at American Battery Technology Company Tonopah Flats Property”, with a third-party audited analysis estimated inferred resource of 15.8 million tons of lithium carbonate equivalent. American Battery Technology’s Tonopah Flats property is located directly to the Southwest of Cruz’s Solar Lithium Project in the Big Smoky Valley of Nevada (see map).
Announced on March 31, 2022, President Joe Biden enacted the Defense Production Act to increase domestic production of strategic and critical materials, such as lithium and cobalt, needed to build batteries for electric vehicles and other types of energy technologies. This could provide a major catalyst and sector momentum for developing domestic sources of battery metals, which is Cruz's goal for the Solar Lithium Project.
In previous news, Cruz Battery Metals’ Phase II drill program discovers lithium on the Northern section of the Solar Lithium Project in Nevada (see map below). 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 6 holes drilled on the Solar Lithium Project during phases I & II.
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.
The 100-percent owned 8,135-acre ‘Solar Lithium Project’ directly borders American Lithium Corp.’s (AMLI - NASDAQ, LI-TSX.v) TLC project which, according to the Stantec report dated January 17, 2023, currently contains 8.83 Mt (million tonnes) Lithium Carbonate Equivalent (LCE) measured and indicated with another 1.86 Mt LCE inferred.
Cruz’s Nevada Lithium Properties Cruz also has exposure to the lithium market through its strategically located 'Clayton Valley Lithium Brine 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, Schlumberger Limited (NYSE:SLB), through a strategic partnership with Pure Energy (PE:TSX.v), has received all the permits necessary and has committed USD $30 million to build a lithium brine pilot plant. This includes a collaboration agreement with Panasonic for the validation and optimization of the innovative and sustainable lithium extraction and production process to be used by Schlumberger New Energy at its NeoLith Energy pilot plant in Nevada. This collaboration paves the way for improved lithium production solutions that will help meet the expected surge in demand for lithium as the electric vehicle (EV) market takes off worldwide. 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.
Cruz's Hector Project is located in the historic silver-cobalt producing region of Cobalt, Ontario. Our claim block is located in very close proximity to Electra Battery Metals' (TSX.v:ELBM) refinery, which has recently received a $10 million joint-investment from the Federal and Ontario governments.
Management is confident that 2024 will be a very active and transformative time for Cruz.
About Cruz Battery Metals Cruz Battery Metal’s goal is to locate and develop new, domestically sourced, battery-grade deposits in North America, essential for the rapidly growing rechargeable battery and renewable energy sectors. We strongly believe that battery metals are poised to garner significant market attention as the demand for lithium-ion batteries continues to increase along with the explosive growth of the electric vehicle industry.
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 Brine Project’. Cruz’s 6,146-acre Hector Project is located in the historic silver-cobalt producing district of Cobalt, Ontario. 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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info@cruzbatterymetals.com Cruz Battery Metals Corp. “James Nelson”
James Nelson
President, Chief Executive Officer, Secretary and Director
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James Nelson, CEO and Director
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Thank you for your interest in Cruz Battery Metals Corp.