Cruz Moves to Quantify Nevada Lithium Asset as Prices Hit 2-Year High

Edgen Stock·Jan 09 2026, 11:49

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Key Takeaways

Cruz Battery Metals is advancing its Solar Lithium Project in Nevada by commissioning a formal Maiden Resource Estimate (MRE) from Stantec Consulting. The move, announced on January 9, 2026, aims to capitalize on strong lithium prices and previous exploration success on its 4,938-acre property, which directly borders a major discovery by American Lithium Corp.

Maiden Resource Estimate Initiated: Cruz has engaged Stantec Consulting to prepare a National Instrument 43-101 compliant technical report for its Solar Lithium Project in Clayton Valley, Nevada.
100% Exploration Success: Previous drilling confirmed the presence of lithium in all 14 holes drilled across four phases of exploration, de-risking the project ahead of the formal estimate.
Favorable Market Conditions: Management cited lithium prices hitting 2-year highs, up over 100% since June 2025, as a key driver for advancing the project now.

Cruz Taps Stantec After Hitting Lithium in 14 Straight Drill Holes

Cruz Battery Metals announced on January 9, 2026, that it has formally engaged Stantec Consulting Ltd. to complete a Maiden Resource Estimate (MRE) and a National Instrument 43-101 Technical Report for its Solar Lithium Project in Nevada. This step is critical for transitioning the project from a prospective exploration play into a defined asset with a quantifiable mineral resource. The decision follows a successful multi-year drilling campaign where all 14 holes completed on the 4,938-acre property intersected lithium mineralization.

Stantec's qualified person, Derek Loveday, brings direct experience from the Tonopah area, having previously completed a resource estimate for the neighboring TLC lithium project owned by American Lithium Corp. This expertise is expected to add significant credibility to the forthcoming report and provide a robust framework for assessing the project's economic potential.

Lithium Prices Over 100% Higher Since June 2025

The company's move to commission the report is timed to capitalize on a strong recovery in the lithium market. According to company president James Nelson, lithium prices have reached two-year highs and are now up over 100% since June 2025. This price strength, combined with renewed strategic interest in domestic U.S. lithium sources, provides a favorable backdrop for advancing the Solar project. Nelson pointed to the October 2025 agreement for a government stake in the Thacker Pass Lithium Mine as a sign of this renewed focus.

The project's location adds to its strategic value, as it directly borders American Lithium Corp.’s TLC project. The TLC project hosts a significant resource, including 6.17 million tonnes of lithium carbonate equivalent (LCE) in measured resources. While not indicative of Cruz's potential results, the proximity to a large, defined deposit suggests a promising geological setting for the Solar Lithium Project.