Deep-South arranges $350,000 private placement
Deep-South arranges $350,000 private placement
Momentum Public Relations
Press Release: April 13, 2017
Deep-South Resources Inc. will proceed with a non-brokered private placement for gross proceeds of up to $350,000.
The non-brokered private placement will comprise up to 1,590,909 units of Deep-South at a subscription price of 22 cents per unit. Each unit will consist of one common share and one common share purchase warrant of Deep-South. Each full warrant will entitle the holder thereof to purchase one Deep-South common share at an exercise price of 30 cents during a period of 36 months from the date of closing of the placement. Each security issued pursuant to the placement has a mandatory four-month holding period from the date of closing of the placement.
The private placement is subject to the approval of the TSX Venture Exchange.
About Deep-South Resources Inc.
Deep-South Resources is a mineral exploration company with a large Namibian shareholding, actively involved in the acquisition, exploration and development of major mineral properties in Namibia and Canada. Deep-South’s growth strategy is to focus on the exploration and development of quality assets, in significant mineralized trends, close to infrastructure, in stable countries.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Deep South Resources Inc., Mining, News Home
Majescor closes private placement for $655,000
Majescor closes private placement for $655,000
Momentum Public Relations
Press Release: April 10, 2017
Majescor Resources Inc. has closed a $655,000 non-brokered private placement at 10 cents with one common share purchase warrant. Each warrant entitles the holder thereof to acquire one additional common share in the capital of the corporation at a price of 16 cents per common share for a period of 24 months expiring on April 7, 2019. The warrants are subject to a forced exercise provision that, should the corporation’s common shares trade at a price of 24 cents or more for 30 consecutive days, the warrantholder will then have 30 days following the 30th day of trading to exercise the warrants before they expire.
All securities issued in the private placement are subject to a four-month hold period and to all necessary regulatory approvals, including the approval of the exchange.
In connection with the private placement, the company is paying a cash finder’s fee of $15,200 and will issue 76,000 common shares and 76,000 non-transferable finder’s warrants. Each finder’s warrant entitles the holder to purchase one additional common share at a price of 16 cents per share for a period of 24 months expiring April 7, 2019.
The proceeds of the financing will be used for general corporate purposes.
About Majescor Resources Inc.
Majescor is a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Albert Mining, Mining, News Home
Enforcer Gold samples 510.79 g/t Au at Montalembert
Enforcer Gold samples 510.79 g/t Au at Montalembert
– Momentum Public Relations –
Press Release: March 30, 2017
Enforcer Gold Corp. has released metallic sieve assay results from the October, 2016, channel sampling campaign on the Galena vein and vein No. 2.
The assaying process originally employed and reported in press release dated Jan. 20, 2017, was widely used and an industry standard fire assay technique with atomic absorption finish on a 30-gram sample. Usually, if gold results are greater than one gram per tonne, the laboratory will reanalyze the sample with fire assay and gravimetric finish. Even if this method is good up to 1,000 g/t gold, it does not perform well with the high nugget effect as is often the case at Montalembert. When visible gold is observed, or when high-grade gold is suspected, the metallic sieve method is a preferred assay technique.
Nine samples were selected for reanalysis using metallic sieve techniques. The results are found in the attached table.
SAMPLING REANALYSIS Sample ID Sample type Interval Original assay -- New assay -- (m) gravity finish metallic sieve Au (g/t) Au (g/t) D110069 Channel 1 438.225 510.79 D110059 Channel 1 119.935 118.79 D109952 Channel 1 39.345 40.23 D109955 Channel 1 8.88 11.13 D110103 Channel 1 5.59 108.21 D109580 Channel 1 5.07 9.47 D109891 Channel 1 4.56 4.28 D110102 Channel 1 3.84 6.6 D110122 Channel 1 1.58 1.81
Steve Roebuck, chief executive officer of Enforcer Gold, stated: “We are very encouraged by the results of the samples selected for the metallic sieve analysis technique. Seven of the nine samples increased in grade while two decreased. The most remarkable increase came from sample ID No. D110103, which increased from 5.59 g/t gold to 108.21 g/t gold, or 1,835 per cent. It was very important that we made this discovery now before the summer exploration program commences as we now know that assaying around the high-grade gold Galena vein and vein No. 2 needs to include metallic sieve assaying techniques. It is a more expensive process, but the higher-quality results clearly demonstrate that the additional costs are warranted.”
A description of the typical procedure is as follows: metallic sieve is able to overcome the nugget effect of gold by increasing the subsample size to 1,000 grams and physically collecting the free gold within the system using a 100-mesh sieve. The subsample is pulverized to about 90 per cent minus 100 mesh and subsequently sieved through a 100-mesh (106 micron) screen. The entire plus-100 metallic portion is assayed along with two duplicate subsamples of the minus 100 pulp portion. Results are reported as a weighted average of gold in the entire sample.
About Enforcer Gold Corp.
Enforcer Gold is earning a 100-per-cent interest in the 7,300-square-hectare high-grade Montalembert gold project located west of Chibougamau in Quebec’s prolific Abitibi greenstone belt. The project is very well situated only five kilometres from a paved highway, and hydroelectric power and easy access to skilled labour, fuel, food and accommodation it make exploration costs extremely low.
Two recent channel sample assays from the Galena vein, taken 20 metres apart along strike length, assayed 510.79 g/t Au over one metre and 118.79 g/t Au over one metre. Enforcer Gold has committed over $2.2-million to finance its 2017 exploration program, which includes: data compilation, ground and airborne geophysics, stripping of overburden, mapping, prospecting, channel sampling, and reverse circulation and diamond drilling.
Technical
Activation Laboratories Ltd. of Ancaster, Ont., and Laboratoire Expert Inc. of Rouyn-Noranda, Que., were the labs that performed the metallic sieve analysis.
The technical content of this news release was reviewed, verified and approved by Donald Theberge, PEng, MBA, the company’s qualified person as defined by National Instrument 43-101.
© 2017 Canjex Publishing Ltd. All rights reserved
- Published in Enforcer Gold Corp, Mining, News Home
Enforcer Gold Begins Very High Resolution Areomagnetic Survey at the Montalembert Gold Project
Enforcer Gold Begins Very High Resolution Areomagnetic Survey at the Montalembert Gold Project
– Momentum Public Relations –
Press Release: March 28, 2017
Enforcer Gold Corp. has commenced its very-high-resolution aeromagnetic survey over the entire high-grade Montalembert gold project using Geotech’s HeliGrad-VLF EM triaxial gradiometer system.
Steve Roebuck, Enforcer Gold’s chief executive officer, stated: “The helicopter-borne program has just commenced and, weather permitting, should be completed in about a week. The detailed information will be a major tool used by Enforcer Gold’s exploration team to map out detailed folding, shearing and faulting in this structurally controlled high-grade gold project.”
The historical geophysical surveys conducted at the Montalembert gold project form a patchwork of different techniques done over the years by many different operators at variable line spacings and only in select areas. By choosing Geotech’s HeliGrad system, the company will have a large reliable data set that allows it to see the big-picture geological story, the important structures and select key exploration targets to follow up on the confidence that the geophysics have been done properly right from the start.
About Enforcer Gold Corp.
Enforcer Gold is earning a 100-per-cent stake in its 7,300-square-hectare high-grade Montalembert gold project located 120 kilometres west of Chibougamau in the prolific Abitibi greenstone belt of central Quebec. Recent channel sample assays (see news release dated Jan. 20, 2017) from the Galena vein included 438.23 grams per tonne gold over one metre and 119.94 grams per tonne Au over one metre. A very-well-financed exploration program has commenced and will include: data compilation, ground and airborne geophysics, stripping of overburden, mapping, prospecting, channel sampling, and reverse circulation and diamond drilling.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Enforcer Gold Corp, Mining, News Home
Renewable Energy Defining Point Reached As Economies of Scale Kick In And Tesla’s Elon Musk Bets He Can Save South Australia from Power Shortages
Renewable Energy Defining Point Reached As Economies of Scale Kick In And Tesla’s Elon Musk Bets He Can Save South Australia from Power Shortages
Are Cobalt Shortages In The Future?
Image source: WIRED
Tesla billionaire Elon Musk says he can install battery farm within 100 days or it’s free.
There’s more than just a little irony in the air these days. Just as Donald Trump plans to reduce energy efficiency standards for cars in the United States, a defining point in the history of renewable energy has been made in the form of a bet between billionaire Elon Musk and the State of South Australia. It is the moment that economies of scale kick in driving down and making the cost of grid scale renewable energy rollout feasible.
An energy crisis has been brewing for some time in sunny South Australia leading to blackouts and price spikes. As the debate raged on about how to solve it Musk stepped in during early March and offered to solve the problem by installing 100-300 MW hours of renewable energy electric grid scale battery storage within 100 days of signing the contract.
When Mike Cannon-Brookes tweeted to ask if Musk was serious Musk replied that if he couldn’t do it within 100 days of signing the agreement it would be free of charge. Cannon-Brookes was interested because he is Australian. He is also the co-founder of Silicon Valley start-up Atlassian which builds software development tools. Being Australian, Cannon-Brookes asked Tesla for a “mates rate.” Although contract figures have not been released Cannon-Brookes told the Australian media that Musk offered to almost halve the cost of the project.
Tesla has just finished building a battery farm in southern California that can provide 80 MW Hours of storage at a cost of $100 million in 90 days. Musk is a high-tech visionary who has made his visions pay. In February 2017 his net worth was calculated at $13.9 billion. He co-founded PayPal, Tesla Motors, Solar City and founded SpaceX, the commercial space transportation business.
Long a renewable energy advocate Tesla has built a second business in residential, commercial and electric grid storage batteries under the Tesla Powerwall banner and SolarCity, which he cofounded with a cousin to provide residential battery storage solutions. Musk has frequently noted that he is in the process of changing Tesla from a car company into a clean energy company. Tesla has also recently launched a roofing product designed to take the ugly out of solar panels by producing solar panel roofing shingles that look like slate, in a variety of attractive colours.
Musk’s ability to fulfill his promise to South Australia lies in the fact that on January 17th, 2017 Tesla’s Nevada Gigafactory, located near Reno, started production.
The Gigafactory has already supplied the batteries for a battery farm in southern California. Tesla has grid scale battery farm projects on the go in the UK, Connecticut, North Carolina, Hawaii and New Zealand. Only a third of the 4.9 million square foot Gigafactory which will cost $5 billion and is part of a partnership with Panasonic is up and running but by 2018 it will have doubled global lithium-ion battery production. Two of the most commonly used lithium-ion rechargeable batteries, including Tesla’s, use cobalt as part of the mix.
Large scale rollouts of solar, wind and water energy have been held back by the high cost of storing the electricity generated. Tesla’s Gigafactory and his consequent offer to South Australia are a game changer indicating that although battery storage costs have been falling for years, now they are about to tumble, thanks to economies of scale. It is estimated that Tesla’s lithium-ion batteries which also use nickel and cobalt are about a third less expensive than other batteries. This also means that the cost of electric vehicles and hybrids will begin to drop.
Last year IHS predicted the electric grid scale utility storage battery market to hit US$19 Billion during 2017. Taiyou Research predicts a US$ 30 Billion market in rechargeable Li-ion batteries by 2020.
If you don’t believe that clean energy will become a very viable industry in the near future you should bear in mind that if this year’s game changer is Tesla’s Gigafactory and the economies of scale that will play in strengthening the renewable energy rollout then last year’s may very well have taken place when Facebook founder Mark Zuckerberg, Virgin founder Sir Richard Branson, Linkedin founder Reid Hoffman, Amazon founder Jeff Bezos, HRH Prince Alwaleed bin Talal, Chairman of the Board of trustees, Alwaleweed Philanthropies, Saudi Arabia, among others announced the creation of a clean energy investment group, The Breakthrough Energy Coalition. The coalition is made up of 28 high net-worth entrepreneurs from ten different countries.
Entrepreneurs who have changed the fabric of modern life are already on board. Warren Buffet, through Berkshire Hathaway has invested US$1 Billion and Bill Gates is investing US$1 Billion of his personal money and US$2 Billion through the Bill and Melinda Gates Foundation in renewable energy.
Battery and cobalt demand won’t just be driven by smartphones and Tesla. According to Rockstone Research the Germans are building a battery factory twice as large as Tesla’s, the Chinese are building four that are bigger than the Nevada Gigafactory, the Japanese are building two and the South Koreans are building one.
Savvy retail investors may be wondering how to take part in this emerging market and one perspective may be to look at it as a commodity market. Lithium stocks went through a gold rush period a few years ago propelled by the rechargeable battery market and now thanks to the amount of cobalt in a car battery and in laptops and smart phones it looks as if cobalt is set to takeoff. The battery pack for Tesla Model S, for instance, contains an estimated 22.5 Kg of cobalt.
Another factor that comes into play is secure supply and ethical sourcing. The refined product market is largely controlled by China, which has a history of trade embargoes and tariff walls when it comes to protecting resources and products for itself. The majority of raw cobalt comes from the Democratic Republic of Congo where much of the mining is done by child workers.
Nobody wants to drive a car or use a cell-phone powered by child labour and so the hunt is on for ethically sourced, securely supplied cobalt. Elon Musk has said that he is going to source the raw materials for his batteries from North America. At the moment there are no producing cobalt mines in North America. Exploration, however, is being fast tracked. Cruz Cobalt is one of the junior mining companies that may benefit. Commodity research house CRU has predicted cobalt demand to rise by 16{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} annually through 2022.
The LME has predicted that by 2020 the amount of cobalt used in rechargeable batteries could equal the total amount refined in 2015.
In a recent press release announcing the acquisition of the Chicken Hawk Cobalt Prospect in Montana, Cruz Cobalt, (CUZ—TSXV, BKTPF—OTCBB, A2AG5M–FSE), Cruz Cobalt President James Nelson stated:
“This new prospect now makes 9 cobalt prospects within North America that Cruz has secured. Cruz has also secured one of the largest land packages, consisting of 4 separate cobalt prospects, all located in the Cobalt/Silver district of Ontario surrounding the city of Cobalt. Cobalt prices continue to trade to new 5 year highs and have been on a significant uptrend over the past 12 months. Cruz is fully funded to commence operations on all of its 9 cobalt prospects and management expects to be on the ground very shortly.” If Cruz is successful then early investors will benefit accordingly. As of March 17, CUZ traded at $0.205 and has a total of 55,065,386 shares and a market cap of $11,288,404.
Another promising Canadian company exploring for cobalt is Kings Bay, (TSXV: KBG) which over the last year has acquired five prospective cobalt properties, two in Newfoundland Labrador and three in Northern Quebec. Kings Bay was recently reported on in the Financial Post where CEO Kevin Bottomley stated that the company’s Lynx Lake project near Happy Valley Goose Bay had shown initial results with very high cobalt numbers. The company has recently acquired a highly prospective cobalt property on Trump Island in NL. Their three properties in Quebec were worked on by Falconbridge around 2000 and Bottomley describes them as having initial positive results. Bottomley was previously associated with mining incubator Zimtu Resources and as a result has access to a network of European investors eager to invest in Canadian resource projects. Kings Bay traded at $0.18 on March 17, 2017 and has 41 million shares and a market cap of $7 million.
By Noel Meyer
- Published in Blog, Cruz Cobalt, Energy, Green Technology, King's Bay, Mining, Technology
Majescor Resources Acquires Mining Division of Diagnos
Majescor Resources Acquires Mining Division of Diagnos
– Momentum Public Relations –
Press Release: March 15, 2017
OTTAWA, ONTARIO–(Marketwired – March 15, 2017) – Majescor Resources Inc. (“Majescor” or the “Company”) (TSX VENTURE:MJX) is pleased to announce the signing of an agreement with Diagnos Inc. (“DIAGNOS”) for the purchase of its assets from the mining division, including the Computer Aided Resources Detection System (“CARDS”), for total value of $800,000.
Under the terms of the agreement, on or before March 31, 2017, Majescor will issue 8,000,000 common shares of its share capital to DIAGNOS, at a deemed price of $0.10 per share, in payment for the acquisition of the assets, consisting of DIAGNOS’ mining claims, royalty agreements, and the CARDS system. Additionally, Majescor will remit to DIAGNOS (i) 50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of any payment that Majescor receives from the royalty agreements forming part of the acquired assets, and (ii) 5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of revenues generated by the commercialization of the CARDS system.
“This is a game changer for Majescor. It puts us in the forefront in becoming the leader in using artificial intelligence and machine learning for mineral exploration. DIAGNOS has over a 10-year track record of using and perfecting its CARDS system and we are excited about the added value that Majescor will now be able to provide to our own mineral projects as well as the potential for revenue-generating third party applications”, stated André Audet, President and CEO of Majescor.
The transaction is subject to terms and conditions such as receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. All monies quoted in this news release shall be stated and paid in lawful money of Canada.
About Majescor Resources Inc.
Majescor is a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec.
Additional information about the Corporation is available under Majescor’s profile on SEDAR at www.sedar.com.
This news release contains certain “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or are events or conditions that “will”, “would”, “may”, “could” or “should” occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: the resumption of the trading of Majescor shares on the TSX Venture Exchange. Statements regarding future production, capital expenditures and development plans are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks include, but are not limited to, inflation or lack of availability of goods and services, environmental risks, drilling risks, regulatory changes and certain other known and unknown risks detailed from time to time in Majescor’s public disclosure documents, copies of which are available on Majescor’s SEDAR profile at www.sedar.com.
Although Majescor believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. Majescor’s actual results may differ materially from those expressed or implied in forward-looking statements and readers should not place undue importance or reliance on the forward-looking statements. Statements including forward-looking statements are made as of the date they are given and except as required by applicable securities laws, Majescor disclaims any intention or obligation to publically update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
-
Andre Audet
President & CEO
Majescor Resources Inc.
613-241-5333
613-422-0773 (FAX)
andre@evertonresources.com
www.majescor.com
- Published in Albert Mining, Mining, News Home
Industrial Demand Will Support Silver ETFs
Industrial Demand Will Support Silver ETFs
Even if safe-haven demand for hard assets abates, silver exchange traded funds could continue to find support out of the industrial sector as the precious metal is a major component in many manufactured products.
For instance, silver used in the photovoltaic panel industry is growing and could reach record levels in 2018, Maxwell Gold, Director of Investment Strategy for ETF Securities, said in a note.
“Silver’s unique reflective and conductive properties make it a key component in capturing and generating electricity through sunlight,” Gold said. “The fastest growing industrial segment for silver has been its use in photovoltaic (PV) panels for solar energy. This has resulting in demand for solar PV usage becoming a key component for the silver market.”
As the solar panel industry expands, silver will also enjoy greater industrial demand. Global solar photovoltaic annual installed capacity is expected to hit 112 gigawatts by 2021, with cumulative increase in solar electricity capacity of 506 gigawatts over the next five years, according to GTM Research.
“This should boost silver demand which uses about 2/3 ounce of metal per PV panel,” Gold said.
While some observers may be worried about policy and tax incentives under President Donald Trump’s administration’s America First Energy Plan, which lacks any mention of renewable energy, the ongoing improvements in technology and rising economies of scale could continue to support the solar industry, along with silver demand.
The solar segment is not limited to the U.S. either as the international community has increasingly turned greener. Many overseas economies are adapting solar panels and other renewable energy sources to reduce emissions in an attempt to combat global warming pressures. For instance, China, the leader in solar energy, continues to expand clean energy initiatives with photovoltaic capacity.
“A combination of higher inflation, a weakening US dollar (in first half of year) and improving manufacturing growth is likely to see silver prices trade in the $20-22/ounce range in 2017,” Gold projected.
Comex silver futures are currently trading around $18.18 per ounce, with the ETFS Physical Silver Shares (NYSEArca: SIVR) up 13.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} year-to-date.
Max Chen
- Published in Blog, Klondike Silver Corp., Mining
Majescor Resources appoints Letellier as CFO
Majescor Resources appoints Letellier as CFO
– Momentum Public Relations –
Press Release: March 1, 2017
Lucie Letellier has been appointed as chief financial officer of Majescor Resources Inc. effective immediately. She will be replacing Sabino Di Paola who has resigned to pursue other projects. Mrs. Letellier is a financial professional with specialization in finance and accounting having spent over 25 years in public accounting. From 2005 to 2009 Mrs. Letellier was the CFO of Paramount Gold and Silver Corp., having contributed to the development of the company from a private enterprise through private capital raising and two public listings, overseeing $30-million in equity financing. Paramount Gold was later acquired by Coeur Mining for $200-million. Most recently, Mrs. Letellier was CFO of Crestwell Resources. Her work experience also includes acting as credit and loan officer and controller for private enterprises. Her skills include financial reporting for U.S. and Canadian pubic companies, tax compliance, corporate governance and continuous disclosure requirements.
Andre Audet, chief executive officer, wishes to thank Mr. Di Paola for his dedication and excellent work and wishes him well in all his endeavours.
Granting of options
Majescor has granted options to purchase up to 200,000 common shares of the corporation to one of its officers at a price of 10 cents per share for a period of five years ending Feb. 24, 2022.
About Majescor Resources Inc.
Majescor is a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Albert Mining, Mining, News Home
Cruz Cobalt to acquire Chicken Hawk prospect
Cruz Cobalt to acquire Chicken Hawk prospect
– Momentum Public Relations –
Press Release: February 28, 2017
Mr. James Nelson reports
CRUZ COBALT TO ACQUIRE THE CHICKEN HAWK COBALT PROSPECT IN MONTANA
Cruz Cobalt Corp. has entered into an agreement with an arm’s-length vendor to acquire the Chicken Hawk cobalt prospect located in Deer Lodge county, Montana. This new prospect consists of 64 contiguous lode claims covering approximately 1,300 acres.
The Chicken Hawk cobalt prospect claims are located on the western edge of the Boulder batholith and east of the Cordilleran fold and Thrust belt in southwestern Montana. Covering a boundary between a Cretaceous granodiorite and the Lowland Creek volcanics from the Eocene, the eight current claims are in the vicinity of a total of four volcanic rock suites. Cobalt, the primary targeted commodity of the Chicken Hawk, is occurring in the pyritized andesite and as cobaltian arsenopyrite; the sulphides are pnuematolytic in origin. The 64 claims surround four patented claims, no less than 15 unclaimed prospects, and three unclaimed adits.
Cruz president, James Nelson, stated: “We are very pleased to acquire this new cobalt prospect. Management believes that the cobalt trend in the Western USA snakes its way through Idaho, into Montana and up into Southern B.C. This is the targeted pattern of acquisition that Cruz has focused on in the past year. This new prospect now makes nine cobalt prospects within North America that Cruz has secured. Cruz has also secured one of the largest land packages, consisting of four separate cobalt prospects, all located in the Cobalt/Silver district of Ontario surrounding the city of Cobalt. Cobalt prices continue to trade to new five-year highs and have been on a significant uptrend over the past 12 months. Cruz is fully funded to commence operations on all of its nine cobalt prospects and management expects to be on the ground very shortly.”
Cruz currently has seven cobalt projects located in Canada and one in Idaho and now one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt. The company’s projects include the 900-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 5,500-acre Hector cobalt prospect, the 1,480-acre Bucke cobalt prospect and the company’s 4,935-acre War Eagle cobalt prospect in British Columbia. Terms of this deal call for three million shares to be issued upon Toronto Stock Exchange approval.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home