Cruz Battery Metals Corp. (“Cruz” or the “Company“) is pleased to announce that a drill program consisting of 4-6 holes is now underway on the 100-percent-owned 6,215-acre ‘Solar Lithium Project’ in Nevada. Cruz’s ‘Solar Lithium Project’ directly borders American Lithium Corp.’s TLC project. According to the Stantec report dated April 15, 2020, the Tonopah Lithium Claims (TLC Project) currently contains 5.37 Mt (million tonnes) Lithium Carbonate Equivalent (LCE) measured and indicated with another 1.76 Mt LCE inferred.
Results from Cruz’s recent sampling program on the ‘Solar Lithium Project’ included values as high as 1,610 parts per million (“ppm”) lithium (“Li”). This drill program is designed to test the high-grade target areas identified from the information provided by the recent sampling program. Lithium prices have recently broken out to all-time highs, increasing by over 100-percent since August 1, 2021, and are now up over 300-percent in 2021. In addition, investor interest in lithium stocks continues to be robust. 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, states, “We are very pleased to have now started to drill on the ‘Solar Lithium Project’ in Nevada, right near the border of American Lithium Corp.’s TLC deposit. We are encouraged by the results from the recent sampling program that included grades as high as 1,610 ppm Li. As all major car companies ramp up their EV production, battery metals such as lithium (all-time highs) and cobalt (multi-year highs) are experiencing large demand pressure that show little signs of abating. management is very optimistic about the potential of this drill program and the company’s growth potential for the remainder of 2021 and beyond.”