Cruz Cobalt Corp (CVE:CUZ) has increased its acreage near the town of Cobalt, Ontario.
The company added that its crews are currently poring over the data from the recently completed airborne survey of its cobalt prospects in Ontario with a view to formulating a drilling program.
"We are pleased to be able to strategically increase our acreage bordering the Coleman cobalt prospect in the direct vicinity of the town of Cobalt, Ontario,” said Cruz's president, James Nelson.
“We are one of the most active junior cobalt companies in the area and with our recent start of operations in Idaho, Cruz is now one of the only junior cobalt companies active in multiple countries. We currently have more cash on hand than at any other point to undertake these work programs,” Nelson added.
“With the planned upcoming drill program being finalized, Cruz will be in a prime position to take advantage of the continued global focus on ethically-sourced cobalt to supply the exploding demand for lithium/cobalt based batteries primarily for electric vehicles.”