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Cruz signs letter of intent to acquire 2 cobalt-nickel-copper projects in Norway

Cruz Cobalt Corp. said June 4 that it signed a letter of intent with EMX Royalty Corp. and Fennoscandian Investment Group to acquire two cobalt-nickel-copper projects in Norway consisting of 29 exploration licenses.

The deal is subject to due diligence, the execution of a formal agreement, and board and regulatory approvals.

In April, the base metals miner increased its landholding in Ontario's Cobalt Camp to 10,556 acres by adding 305 new claim units contiguous to its Lorraine cobalt prospect.