May 6, 2022 – Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A3CWU7 (“Cruz” or the “Company”) is pleased to announce that every drill hole of the phase II drill program on the 100-percent owned, 8,135 total contiguous acre ‘Solar Lithium Project’ in Nevada, has encountered the targeted potential lithium-bearing claystone. The samples have been sent for assaying on a rush basis to ALS labs in Reno. 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.
The lithium-bearing claystone formation was encountered in all the holes drilled during Cruz’s first phase of drilling on the ‘Solar Lithium Project’, including values as high as 1,300 ppm/Li (announced on January 17, 2022). 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 that every hole of the phase II drill program has encountered the targeted potential lithium-bearing claystone. Cruz has a large footprint and a similar size property to our neighbor, American Lithium, who has a current market capitalization of approximately $650 million. Lithium prices remain strong as the demand for electric vehicle (EV) batteries continues to grow at a rapid pace. Cruz’s goal is to locate and provide a new, domestically sourced, battery grade lithium deposit, and we look forward to the upcoming results from the phase II drill program.”
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 three separate Ontario projects are all located in the vicinity of the town of Cobalt, making Cruz one of the largest landholders in this historic silver-cobalt producing district. Cruz’s Ontario projects, which are prospective for cobalt, silver, and diamonds, include the 988-acre Johnson cobalt project, the 6,146-acre Hector cobalt project, and the 1,458-acre Bucke cobalt project. 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
W: www.cruzbatterymetals.com
Twitter: @CruzBattMetals
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