The Solar Lithium project directly borders American Lithium Corp.’s (TLC) project. On 1 December 2022, American Lithium Corp. announced an updated resource estimate, prepared by Stantec Consulting Ltd., for the TLC lithium claystone property containing 8.83 million t lithium carbonate equivalent (LCE) measured & indicated with another 1.86 million tLCE inferred. Cruz Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralisation on the company’s properties.
Jim Nelson, President of Cruz Battery Metals stated:
“With the drill rig now being mobilised, we anticipate being able to start the phase-3 drill programme imminently. The 8135 acre Solar Lithium project comprises a large footprint directly bordering American Lithium in Nevada. The previous phase I and II drill programmes discovered the presence of lithium in all 6 holes drilled to date. Our neighbour, American Lithium Corp., recently announced a substantial increase to their resource estimate along with an uplist to the NASDAQ and they now boast an approximate market cap of one billion dollars. We could not be more optimistic about the future of the Solar Lithium project. Cruz’s goal is to locate and provide a new, domestically sourced, battery grade lithium deposit. Considering that Cruz is well-funded with US$3.5 million in the treasury, the fact the lithium prices continue to show strength, and that Cruz will be coming into an active news cycle period, management feels that everything is now in place to give our shareholders the best chance of success on this project.”