Cruz Cobalt (CRUZ) is planning to commence operations on its silver-cobalt projects in one of the most prolific silver camps on earth.
Cruz is one of the largest landholders in the historic silver-cobalt producing region of Cobalt, Ontario, with five separate projects in this world-famous silver-cobalt camp.
The Cobalt-Gowganda Silver mining area has seen over 600 million troy ounces of silver and 50 million pounds of cobalt produced from approximately 104 different mining operations in the area since the first silver vein was discovered in 1903.
Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily indicate the presence of mineralization on its properties.
James Nelson, President of Cruz states, "We are planning to reevaluate our large land package to focus on the silver potential and not just cobalt. There has been a significant global focus on silver recently, sending prices to near 5-year highs."
"Cruz is well funded with approximately $1.5 million in the treasury, including flow-through funds, which enables the Company to start operations shortly and look forward to continuing with the momentum 2021 has already seen," he added.
Cruz currently has twelve projects located throughout North America, comprising five in Ontario, four in British Columbia, two in Idaho, and one in Nevada.
It has five separate Ontario projects, which 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.