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Cruz Cobalt set for airborne work at its three British Columbia projects

Last updated: 09:51 08 Jan 2018 EST, First published: 04:51 08 Jan 2018 EST

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Cruz Cobalt is hunting for cobalt across North America

 

Cruz Cobalt Corp (CVE:CUZ, OTCBB:BKTPF) told investors it will embark on an airborne work program at its British Columbia cobalt properties, adding it was very optimistic about 2018.

"As we continue to witness the growing demand for ethically sourced cobalt within North America, Cruz is positioning itself as an industry leader with work programs underway on several high quality projects," said James Nelson.

"We plan to be active on all of our Canadian and US cobalt projects in 2018. 

"We are very optimistic about 2018 as we start the year with more cash in the bank than at any other time and cobalt prices at nine year highs.

"Cruz looks to be one of the most active junior cobalt companies globally at a time of significant growth within the electric car industry, specifically battery metals. We look forward to meeting that need.”

The firm has engaged Precision GeoSurveys (Precision) based out of British Columbia to carry out the work.

Cruz currently has nine cobalt projects located throughout North America, comprising four in Ontario, three in British Columbia, one in Idaho and one in Montana.

They include the 900-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 5,500-acre Hector cobalt prospect and the 1,480-acre Bucke cobalt prospect.

The 4,935-acre War Eagle cobalt prospect in British Columbia covers a past-producing mine.

Its USA projects include the 1,940 acre Chicken Hawk prospect in Montana and the 880 acre Idaho Star prospect.

On December 28, the firm said it had raised US$450,000 through the issue of 2mln units in a private placement.

The company closed the placing within a day of its announcement.

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