Cruz Battery Metals Mobilizes Drill Rig for the Phase-3 Drill Program on the Solar Lithium Project in Nevada, Directly Bordering American Lithium Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 7, 2023) - Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A3CWU7) ("Cruz" or the "Company") wishes to announce the drill rig is now being mobilized to the drill site to begin the Phase-3 drill program shortly on the 100-percent owned, 8,135-acre Solar Lithium Project in Nevada, directly bordering American Lithium Corp.'s TLC project (See map below). The Company has already received approval from the Bureau of Land Management (BLM) for up to 22 additional holes. To date, every hole drilled on the 'Solar Lithium Project' has discovered lithium, including values as high as 1,300 ppm Li (announced on January 17, 2022).
The 'Solar Lithium Project' directly borders American Lithium Corp.'s TLC project. On December 1, 2022, American Lithium Corp. announced an updated resource estimate, prepared by Stantec Consulting Ltd., for the TLC lithium claystone property containing 8.83 million tonnes lithium carbonate equivalent (LCE) measured & indicated with another 1.86 million tonnes LCE inferred. 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 Battery Metals, stated, "With the drill rig now being mobilized, we anticipate being able to start the phase-3 drill program within a week's time. The 8,135-acre Solar Lithium Project comprises a large footprint directly bordering American Lithium in Nevada. The previous phase I and II drill programs discovered the presence of lithium in all 6 holes drilled to date. Our neighbor, American Lithium Corp., recently announced a substantial increase to their resource estimate along with an uplist to the NASDAQ and they now boast an approximate market cap of one billion dollars. We couldn't be more optimistic about the future of the Solar Lithium Project. Cruz's goal is to locate and provide a new, domestically sourced, battery grade lithium deposit. Considering that Cruz is well-funded with $3.5 million in the treasury, the fact the lithium prices continue to show strength, and that Cruz will be coming into an active news cycle period, management feels that everything is now in place to give our shareholders the best chance of success on this project."
Figure 1: Cruz Ownership Map
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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. Cruz's Nevada lithium projects consist of the 8,135-acre 'Solar Lithium Project' and the 240-acre 'Clayton Valley Lithium Project'. Cruz's 6,146-acre Hector cobalt project is located in the vicinity of the town of Cobalt, Ontario, which is prospective for cobalt, silver, and diamonds. 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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Cruz Battery Metals Corp.
President, Chief Executive Officer, Secretary and Director
For more information regarding this news release, please contact:
James Nelson, CEO and Director
Toll free: 1-855-599-9150
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