Cruz Cobalt acquires 30 claims at Chicken Hawk
2017-09-27 06:37 ET – News Release
Mr. James Nelson reports
CRUZ COBALT SIGNIFICANTLY INCREASES ACREAGE ON MONTANA, USA COBALT PROSPECT
Cruz Cobalt Corp. crews have recently mobilized on the 100-per-cent-owned Chicken Hawk cobalt prospect located in Deer Lodge county, Montana. This prospect consists of 64 contiguous lode claims covering approximately 1,300 acres. The company wishes to report that an additional 30 claims have been acquired by Cruz strategically located contiguous to the existing Chicken Hawk Cobalt Prospect. The Chicken Hawk Cobalt prospect will now consist of approximately 1,940 contiguous acres.
The Chicken Hawk Cobalt Prospect is located on the western edge of the Boulder Batholith and east of the Cordilleran Fold and Thrust Belt in south-western Montana. Covering a boundary between a Cretaceous granodiorite and the Eocene age Lowland Creek Volcanic rocks. The claims are in the vicinity of 4 volcanic rock suites. Cobalt, the primary targeted commodity of the Chicken Hawk, occurs in pyritized andesite and as cobaltian arsenopyrite. The claims surround 4 patented claims, no less than 15 prospects and 3 adits.
Cruz President, James Nelson, stated, “We are pleased to increase the acreage on the Chicken Hawk Prospect. Work is ongoing and these new claims are strategically located on the property. The data we have analyzed indicates to us that the cobalt trend snakes its way through Idaho into Montana and up into Southern British Columbia. Cruz has property in each of Idaho, Montana and British Columbia as well as being one of the single largest landholders around the town of Cobalt, Ontario. Cruz is active on multiple projects in two countries and has enough cash on hand to undertake all its planned work programs, all of this at a time when the global focus on cobalt and all factors regarding the Electric Car sector is gaining momentum. Earlier this month, the price of cobalt traded to $28.35, a new 9-year high as many countries, including China, are making comments about going only electric and banning all gas vehicles.”
Cruz currently has nine cobalt projects located throughout North America, comprising of four in Ontario, three in British Columbia, one in Idaho and one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the town of Cobalt making Cruz one of the largest landholders in this emerging cobalt district. Cruz’s Ontario projects include the 1,265 acre Coleman cobalt prospect, the 900 acre Johnson cobalt prospect, the 4,980 acre Hector cobalt prospect and the 1,580 acre Bucke cobalt prospect. The company’s 4,935 acre War Eagle cobalt prospect in British Columbia covers a past-producing mine. Cruz’s USA projects include the 1,940 acre Chicken Hawk prospect in Montana and the 880 acre Idaho Star prospect.
The technical contents of this release were approved by Toby Hughes, P.Geo, a qualified person as defined by National Instrument 43-101. These new claims were acquired via staking.
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