Cruz Cobalt expands Chicken Hawk landholdings

VANCOUVER (miningweekly.com) – Cobalt exploration junior Cruz Cobalt has expanded its landholdings at the Chicken Hawk cobalt project, in Deer Lodge county, Montana, adding a further 30 claims to enlarge the prospect to 785 ha.

The TSX-V-quoted company earlier this month mobilised exploration crews to the project site to evaluate the deposit.

The Chicken Hawk claims are near four volcanic rock suites, and cobalt, the primary targeted commodity, occurs in pyritised andesite and as cobaltian arsenopyrite. The claims surround four patented claims, no less than 15 prospects and three adits.

“Work is ongoing and these new claims are strategically located on the property. The data we have analysed indicates to us that the cobalt trend snakes its way through Idaho into Montana and up into Southern British Columbia,” stated president James Nelson.

According to Nelson, Cruz has property in Idaho, Montana and British Columbia, and is 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 programmes, 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 nine-year high as many countries, including China, are making comments about going only electric and banning all gas vehicles,” he advised.

Cruz is one of the largest cobalt-focused explorers active, and 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 512 ha Coleman cobalt prospect, the 364 ha Johnson cobalt prospect, the 2 015 ha Hector cobalt prospect and the 600 ha Bucke cobalt prospect. The 2 000 ha War Eagle cobalt prospect, in British Columbia, covers a past-producing mine.