The Johnson Cobalt Prospect is one of four cobalt prospects in Ontario that the company controls. Management expects to commence operations in Ontario shortly utilizing the flow through funds on hand.
The Johnson Cobalt Prospect consists of approximately 900 acres in the Kirkland Lake mining district of Ontario. According to file MDl31M05NE00120 from 1980, grab assays over 300 metres returned up to 10.5% cobalt, 69 g/t AG, 12% NI and .4% CU. The company plans to commence work to fully assess this property shortly.
Cruz President, James Nelson, stated, “This is a very exciting time for Cruz management and shareholders. We are coming into a period of significant activity on our cobalt assets. We feel that cobalt is at the earliest stages of a bull market for cobalt prices. Cruz has established itself at the forefront in the junior cobalt space as we now currently have 9 separate projects in the politically safe jurisdiction of North America.”
Cruz is actively engaged in acquiring and developing Cobalt assets in North America. Cruz has acquired numerous high grade cobalt assets located in North America. Seven cobalt projects are in Canada, one in Idaho, and one in Montana. The goal of the company is to make Cruz the foremost cobalt project generator and developer on the TSX Venture Exchange. Management feels that cobalt is at the early stages of a significant bull market and we are pleased to be positioning Cruz at the forefront of this cycle.
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