Vancouver’s Cruz Cobalt announced July 7 that it has applied for a drill permit to cover its Coleman Cobalt Prospect in the town of Cobalt in northeastern Ontario.
This permit will cover the following activities of mechanized drilling, mechanized stripping, the pitting and trenching of bedrock, and line cutting.
Cruz currently has nine North American cobalt projects, including four separate cobalt prospects in and around the town with 900-acre Coleman Cobalt prospect, the 900-acre Johnson Cobalt Prospect, the 5500-acre Hector Cobalt Prospect and the 1,480-acre Bucke Cobalt Prospect.
"This now makes four separate work permits surrounding the town of Cobalt that we have recently applied for,” said company president James Nelson in a news release.
“Cruz is one of the single largest landholders in this exploding Cobalt district. Recently we have seen an attempt to try to consolidate the district. As this consolidation continues, we feel that being one of the single largest landholders, and acquiring our claims well over a year ago, before most were looking in the area, puts Cruz in an opportunistic position going forward.
“Cruz is expecting to perform work programs on multiple projects in Ontario, Idaho, and Montana making Cruz one of the most active junior cobalt companies in the second half of 2017, at a time when Cobalt prices are trading at nine-year highs.”