Cruz Battery Metals Corp. [CRUZ-CSE; BKTPF-OTC; A3CWU7-FSE] reported drill results from the phase 3 drill program on the 100%-owned, 8,135-acre Solar lithium project in Nevada, directly bordering American Lithium Corp.’s [LI-TSXV] TLC project. The phase-3 drill program discovered the presence of lithium in all 4 drill holes with a high value of 1,460 parts-per-million lithium (ppm Li). Hole-6 had a high of 1,460 ppm Li including 871 ppm Li over 50 feet. Hole-7 had a high of 1,220 ppm Li including 873 ppm Li over 47 feet, starting at 18 feet. Hole-8 had a high of 1,240 ppm Li. Hole-9 had a high of 1,160 ppm Li.
Frank Bain, on-site PGeo and a director of Cruz Battery Metals stated, “We are pleased to have expanded the lithium footprint on this property, encountering lithium in each hole helps to validate the merit of this large project.”
On January 17, 2023, American Lithium Corp. announced an independent NI 43-101 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, “We are encouraged to achieve lithium values higher than 1,160 ppm Li in every hole of the phase-3 drill program. We are immediately formulating a phase-4 drill program. This was our first lithium drill program of 2023, and we anticipate at least 2 additional phases of drilling on the Solar Lithium Project within this calendar year. The phase 1, 2 & 3 drill programs discovered the presence of lithium in every hole drilled and we’ve only explored a small fraction of property to date. Cruz is well-funded to complete all planned drilling this year and we anticipate generating our maiden resource estimate in 2023.
“We are one of the largest landholders in the Big Smoky Valley of Nevada, directly bordering American Lithium who recently announced a substantial increase to their resource estimate. Cruz’s goal is to locate and provide a new, domestically sourced, battery grade lithium deposit.”
Cruz currently has several projects located throughout North America. Cruz’s Nevada lithium projects consist of the 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, northeastern Ontario, which is prospective for cobalt, silver, and diamonds.
Cruz’s Idaho projects include the 2,211-acre Idaho Cobalt Belt Project and the 80-acre Idaho Star Cobalt Project.