Subscribe
Be the first with the news that moves the market- Cruz Battery Metals (CSE:CRUZ) has completed the phase-4 drill program on its Solar Lithium Project in Nevada
- The team encountered a 114-metre-thick section of potential lithium bearing clay on the easternmost portion of this project, and a 121-metre-thick clay section near the border of American Lithium’s project during the phase-4 drill program
- The phase-4 drill program samples have been sent to ALS in Reno and the results are expected in four to eight weeks
- Cruz Battery Metals (CRUZ) opened trading at $0.08 per share
Cruz Battery Metals (CSE:CRUZ) has completed the phase-4 drill program on its Solar Lithium Project in Nevada.
The company’s 100 per cent owned, 33 square kilometre Solar Lithium Project directly borders American Lithium Corp.’s (TSX:LI) TLC project. So far, the Cruz team has discovered the presence of lithium in every drill hole during the first, second, and third phase of its drill programs.
Four reverse circulation drill holes were completed during the fourth phase. Two holes, Solar-11 and Solar-13 were successfully completed on the eastern portion of the Solar Lithium Project; Solar-12 was lost because of technical reasons. Solar-13, the farthest north hole encountered a clay section within the Siebert Formation. The Solar-10 hole, Cruz’s southernmost drill hole, located immediately north of the American Lithium Claim boundary, encountered potential lithium bearing clay within the Siebert Formation.
The phase-4 drill program samples have been sent to ALS in Reno and the results are expected in four to eight weeks.
Cruz Battery Metals President Jim Nelson said in a news release that the team encountered a 114-metre-thick section of potential lithium-bearing clay on the easternmost portion of this project, and a 121-metre-thick clay section near the border of American Lithium’s project during the phase-4 drill program.
“If Cruz can achieve similar results on the phase-4 drill program that we’ve already encountered over the first three phases of drilling, it would significantly expand the known lithium footprint on the Solar Lithium Project. Cruz is one of the largest landholders in the Big Smoky Valley of Nevada, directly bordering American Lithium and we’ve still only explored a small fraction of the property,” Nelson said. “Cruz is well-funded to complete all planned drilling, and we anticipate a phase-5 drill program and generating our maiden resource estimate on the project before the end of 2023. The remainder of the year will be very active as we enter a major news flow cycle with several potential catalysts ahead.”
Cruz Battery Metals is focused on discovering a North American battery-grade lithium deposit. The company has two lithium projects in Nevada, the Solar Lithium Project and the Clayton Valley Lithium Project. According to the company, it is one of the largest landholders in the surrounding Big Smoky Valley.
Cruz Battery Metals Corp. (CRUZ) opened trading at $0.08 per share.
Join the discussion: Find out what everybody’s saying about this stock on the Cruz Battery Metals Corp. Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
