Business
Phase-3 Drill Program Now Underway on the Solar Lithium Project in Nevada, Directly Bordering American Lithium Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 10, 2023) - Cruz Battery Metals Corp. (C...
About this update from Cruz Battery Metals Corp
[{"type":"text","content":"Phase-3 Drill Program Now Underway on the Solar Lithium Project in Nevada, Directly Bordering American Lithium Corp.Vancouver, British Columbia--(Newsfile Corp. - February 10, 2023) - Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A3CWU7) (\"Cruz\" or the \"Company\") wishes to announce the Phase-3 drill program is now underway on the 100-percent owned, 8,135-acre Solar Lithium Project in Nevada, directly bordering American Lithium Corp.'s TLC project (See map below). The Company has already received approval from the Bureau of Land Management (BLM) for up to 22 additional holes. To date, every hole drilled on the 'Solar Lithium Project' has discovered lithium, including values as high as 1,300 ppm Li (announced on January 17, 2022). The 'Solar Lithium Project' directly borders American Lithium Corp.'s TLC project. On December 1, 2022, American Lithium Corp. announced an updated resource estimate, prepared by Stantec Consulting Ltd., for the TLC lithium claystone property containing 8.83 million tonnes lithium carbonate equivalent (LCE) measured & indicated with another 1.86 million tonnes LCE inferred. 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 pleased to now be underway with the phase-3 drill program on the 8,135-acre Solar Lithium Project, directly bordering American Lithium in the Big Smoky Valley of Nevada. Cruz is one of the largest landholders in the Big Smoky Valley. This is our first lithium drill program of 2023, and we anticipate additional phases of drilling within this calendar year. We are encouraged that the previous phase I and II drill programs discovered the presence of lithium in all 6 holes drilled to date. Our direct neighbor, American Lithium Corp., recently announced a substantial increase to their resource estimate along with uplisting to the NASDAQ and they currently have a market cap of approximately one billion dollars. We couldn't be more optimistic about the future of the Solar Lithium Project. Cruz's goal is to locate and provide a new, domestically sourced, battery grade lithium deposit. Cruz is well-funded with more than $3 million in the treasury and lithium demand continu...