- Cruz (CRUZ) has collected samples from its Solar Lithium Project in Nevada
- 198 samples from the Phase-3 drill program have been received for assaying by ALS labs in Reno, Nevada
- The drill program was comprised of four core holes on the 100-percent owned 32.92 sq. km. Solar Lithium Project in Nevada, directly bordering the TLC project under American Lithium Corp. (TSXV:LI)
- Cruz Battery Metals (CRUZ) opened trading at $0.11 per share
Cruz (CRUZ) has collected samples from its Solar Lithium Project in Nevada.
198 samples from the Phase-3 drill program have been received for assaying by ALS labs in Reno, Nevada.
The drill results are estimated to be received in four to six weeks.
The drill program was comprised of four core holes on the 100-percent owned 32.92 sq. km. Solar Lithium Project in Nevada, directly bordering the TLC Project under American Lithium Corp. (TSXV:LI).
In December 2022, American Lithium announced an updated resource estimate for the TLC lithium claystone property containing 8.83 million tonnes of lithium carbonate equivalent (LCE) measured & indicated with another 1.86 million tonnes of LCE inferred. In February 2023, American Battery Technology Co. announced an estimated inferred resource of 15.8 million tons of lithium carbonate equivalent. American Battery Technology’s Tonopah Flats property is located directly to the Southwest of Cruz’s Solar Lithium Project in the Big Smoky Valley of Nevada.
Frank Bain, the on-site PGeo and a director of Cruz Battery Metals, stated that the four completed core drill holes all intersected potential lithium-bearing clays with one hole intersecting green and black clays, shales, and siltstone of the Siebert Formation.
“The Siebert Formation is the same host rock for the lithium mineralization found on the Solar Lithium Project and on American Lithium Corp.’s TLC discovery that is adjacent to Cruz Battery Metals.”
Jim Nelson, President of Cruz Battery Metals, added that the team is encouraged, having intersected the targeted potential lithium-bearing clays on every drill hole, including a drill hole that intersected more than 152 metres of potential lithium-bearing clay.
“This was our first lithium drill program of 2023, and we anticipate at least 2 additional phases of drilling on the Solar Lithium Project within this calendar year. The Phase I and II drill programs discovered the presence of lithium in all holes drilled to date. Cruz is well-funded to complete all planned drilling this year, and we anticipate generating our maiden resource estimate in 2023. We are one of the largest landholders in the Big Smoky Valley of Nevada, directly bordering American Lithium, recently announced a substantial increase to their resource estimate along with uplifting to the NASDAQ, and they currently have a market cap of approximately 800 million dollars. Cruz’s goal is to locate and provide a new, domestically sourced, battery-grade lithium deposit. We couldn’t be more optimistic about the future of the Solar Lithium Project.”
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 (CRUZ) opened trading at $0.11 per share.