Cruz Battery Metals Corp. expanded the Solar Lithium Project in Nevada by approximately 885 contiguous acres to now encompass 6,215 total acres, according to the press release.
Cruz secured the drill permit from the Bureau of Land Management for the Solar Lithium Project in Nevada. The project directly borders American Lithium Corp.’s Tonopah Lithium Claims Project. According to the Stantec report dated April 15, 2020, the TLC Project currently contains 5.37 Mt (million tonnes) Lithium Carbonate Equivalent (LCE) measured and indicated with another 1.76 Mt LCE inferred, the release said.
Results from Cruz’s recent sampling program on the Solar Lithium Project included values as high as 1,610 parts per million (“ppm”) lithium (“Li”).
Cruz plans to be drilling this project shortly using the information provided by the recent sampling program, designed to test the high-grade target areas.
Lithium prices have once again exploded to new all-time highs and investor interest in Nevada lithium stocks continues to be “robust,” according to the press release.
Cruz Management said in a press release 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.
“We are pleased to strategically add to the Solar Lithium Project acreage. This region of Nevada is receiving a large global focus as lithium prices are continuing to move to all-time highs on the backs of the demand from the electric vehicle car companies such as Tesla, Nio, Ford, Volkswagen and General Motors,” Jim Nelson, president of Cruz said in a press release.
“As all major car companies ramp up their EV production, battery metals such as lithium and cobalt (multi-year highs) are experiencing large demand pressure that show little signs of abating. We expect to be drilling right near the border of American Lithium Corp.’s TLC deposit and management is very optimistic about the drill program.”
Cruz currently has several projects in North America, comprising five in Ontario, four in British Columbia, two in Idaho, and two in Nevada.
Cruz’s Nevada lithium projects consists of the 6,215-acre Solar Lithium Project and the 240-acre Clayton Valley Lithium Project.