Cruz Battery Metals Has Government Approval for up to 22 Additional Drill Holes on the Solar Lithium Project in Nevada
November 15, 2022 - Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A3CWU7) (“Cruz” or the “Company”) wishes to announce that the Bureau of Land Management (BLM) has given Cruz approval for up to 22 additional holes to be completed on the 100-percent owned Solar Lithium Project in Nevada, directly bordering American Lithium Corp.’s (LIACF - OTC, LI - TSX.v) TLC project (See map below). 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 Company is currently planning the next phase of drilling to begin shortly, depending on drill rig availability.
Jim Nelson, President of Cruz Battery Metals stated, “We are very pleased to be permitted by the BLM for up to 22 additional drill holes on our Flagship property, the 8,135-acre Solar Lithium Project in Nevada, comprising a large footprint directly bordering American Lithium. We are very encouraged by the fact that our phase I and II drill programs have discovered the presence of lithium in all 6 holes drilled to date. Data provided by the first two phases of drilling will allow the Company to plan a larger drill program to begin shortly. 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 are currently at all-time highs, 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.”
The ‘Solar Lithium Project’ directly borders American Lithium Corp.’s (LIACF - OTC, LI - TSX.v) TLC project. On May 21, 2020, American Lithium Corp. announced a maiden resource estimate, prepared by Stantec Consulting Ltd., for the TLC lithium claystone property containing 5.37 million tonnes lithium carbonate equivalent (LCE) measured & indicated with another 1.76 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.
Figure 1: Cruz Ownership Map
Qualified Person
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.
“James Nelson”
James Nelson
President, Chief Executive Officer, Secretary and Director
For more information regarding this news release, please contact:
James Nelson, CEO and Director
T: 604-899-9150
Toll free: 1-855-599-9150
Twitter: @CruzBattMetals
Cruz Battery Metals Corp.
Suite 2905 - 700 West Georgia Street
Vancouver, BC V7Y 1C6
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