Cruz Significantly Increases Land Holdings on the Past Cobalt Producing “Hector Cobalt Project” in Ontario, Canada
November 23, 2016 (Source) — Cruz Capital Corp (TSXV: CUZ) (OTC Pink: BKTPF) (FSE: BRO2) is pleased to announce that the company has increased its cobalt property holdings by 137 claim units now comprising of approximately 5500 contiguous acres. The Hector Cobalt Prospect is one of 4 cobalt prospects in Ontario currently held by Cruz to go along with 3 in British Columbia and 1 in Idaho.
The Hector Cobalt Prospect now consists of approximately 5500 acres in the Larder Lake mining division of Ontario. According to the Province of Ontario Mineral file MDl31M05SE00127, the property was mined for cobalt and is a past producer of cobalt. This new expansion also covers multiple other cobalt showings based on Government of Ontario files. We look forward to commencing operations on this prospect to evaluate and follow up on the historic data gathered.
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Cruz President, James Nelson, stated, “We continue to expand our cobalt projects. The Hector Cobalt Prospect, according to the Government minfile, was a past producer for cobalt, which compliments the stable of high quality cobalt prospects Cruz currently has. This new addition also covers multiple other cobalt showings based on Government of Ontario data. We are very excited about the growth potential for Cruz as we continue to add cobalt assets at a time when Cobalt is making year highs almost daily (see chart). Cruz is focused on high grade cobalt assets in North America and we look forward to getting operations underway on multiple cobalt prospects. With 8 current cobalt projects in the Company, we believe Cruz is in a unique position at the forefront of what we feel will be an impending global cobalt boom.”
Cruz is actively engaged in acquiring and developing Cobalt assets globally and has already acquired several high-grade cobalt projects across North America. Seven cobalt projects are located in Canada and one in Idaho. The goal of the company is to make Cruz the foremost cobalt project generator and developer on the TSX Venture Exchange. Management feels that cobalt is at the early stages of a significant bull market and we are pleased to be positioning Cruz at the forefront of this cycle.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report.
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