Vancouver, British Columbia--(Newsfile Corp. - February 7, 2018) - Cruz Cobalt Corp. (TSXV: CUZ) (OTC Pink: BKTPF) (FSE: A2DMG8) continues to build on its position as the foremost cobalt project generator and developer in North America with the recent acquisition of the "Lorraine Cobalt Prospect" in the Cobalt district of Ontario. The Lorraine Cobalt Prospect consists of 8,935 contiguous acres bordering First Cobalt Corp in the direct vicinity of the town of Cobalt, approximately 500 kilometres north of Toronto, Ontario.
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This area is historically the most prolific cobalt mining camp in Canada, having produced 50 million pounds of cobalt and 600 million ounces of silver over a 60-year period.
James Nelson, President, stated: "This new acreage makes Cruz one of the single largest landholders behind First Cobalt Corp (TSXV:FCC) in the historic cobalt camp in Ontario. This now gives Cruz 5 separate cobalt prospects in the region. The Ontario cobalt district has become one of the global focal points for cobalt exploration and Cruz was positioned very early giving Cruz a first mover advantage and now is one of the single largest landholders in the region. Cruz currently has more cash on hand than any other point and management is planning to deploy that cash strategically and efficiently in 2018. The cobalt demand has never been more in focus as the world is moving towards full scale electric car adoption. The demand for battery metals appears to be at the start of long term super cycle and Cruz is positioning itself early for this cycle."
The company recently increased the acreage on its 100% owned Purcell cobalt prospects from 671 acres to 11,821 acres, consolidating the two separate Purcell prospects into one much larger contiguous prospect. This follows the recent tripling in size of its War Eagle cobalt prospects from 4,935 acres to 15,219 acres. Cruz recently completed an airborne survey over the War Eagle and Purcell cobalt prospects in BC and uncovered strong magnetic anomalies, and is working diligently on advancing these two prospects.
As an early mover in the Cobalt space Cruz was able to acquire several of the best available, under-developed, historically high-grade Cobalt prospects across North America, and now holds five properties in Ontario, two in British Columbia, and two in the United States.
Cruz's other Ontario projects include the 1,265-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 4,980-acre Hector cobalt prospect and the 1,580-acre Bucke cobalt prospect.
Cruz has mobilized crews and commenced work programs on its 100-per-cent-owned 1,940-acre Chicken Hawk cobalt prospect in Montana, USA. The company has also mobilized crews and commenced work programs on its 100-per-cent-owned 880-acre Idaho Star cobalt prospect.
For more information, please visit www.cruzcobaltcorp.com, contact James Nelson, President, at 604-899-9150 or toll free at 1-855-599-9150 or email info@cruzcobaltcorp.com.
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