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  • Schlumberger and Panasonic Energy are collaborating to optimize and validate a lithium extraction and production process
  • The process is to be used by Schlumberger New Energy at its NeoLith Energy pilot plant in the Clayton Valley using Pure Energy’s land
  • Neolith Energy’s objective will be to pump brine from the subsurface, extract more than 90 per cent of the dissolved lithium, and pump 85 per cent of the brine back to the subsurface, reducing the environmental impact
  • The pilot project will cost approximately US$30 million
  • Cruz Cobalt Corp is focused on acquiring and developing high-grade Cobalt projects
  • Cruz Cobalt Corp. (CRUZ) opened trading at C$0.105 per share

Schlumberger and Panasonic Energy recently announced a collaboration agreement to optimize and validate a lithium extraction and production process.

The process is to be used by Schlumberger New Energy at its NeoLith Energy pilot plant in the Clayton Valley using Pure Energy’s land.

Cruz lies directly in the deepest part of this basin that this work is being conducted (Figure 1).

According to Schlumberger, “Neolith Energy’s objective will be to pump brine from the subsurface, extract greater than 90% of the dissolved lithium, and pump more than 85% of the brine back to the subsurface in an environmentally safe manner. In addition to maximizing the reinjection of the brine, the goal is to eliminate the need for any fresh water from an external source and reduce the environmental impact.”

Figure 1: Clayton Valley Ownership Map

Jim Nelson, President of Cruz states,

“We are pleased to have some of the largest energy and battery companies in the world take this project to the next level. Cruz is one of the very few companies that have land and access to the deepest part of this brine basin. The development of their pilot project will cost approximately US$30 million. The expected surge in demand for lithium as the electric vehicle (EV) market takes off worldwide is immense and Cruz is geared for a busy summer working on our EV projects. We are well positioned and fully financed to work on projects in the cobalt camp of Ontario, the lithium brine basin in Clayton Valley as well as our cobalt project in Idaho.”

Figure 2: Cruz’s Ontario Silver-Cobalt Properties

Cruz currently has twelve projects located throughout North America, comprising five in Ontario, four in British Columbia, two in Idaho, and one in Nevada.

Cruz Cobalt Corp is focused on acquiring and developing high-grade Cobalt projects in politically stable, environmentally responsible and ethical mining jurisdictions, essential for the rapidly growing rechargeable battery and renewable energy sectors.

Cruz Cobalt Corp. (CRUZ) opened trading at C$0.105 per share.

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