Fuse Battery Metals Completes Phase 1 of its Exploration Plan at the Monitor Valley Nevada Lithium Project
3028 Quadra Court
Coquitlam, BC V3B 5X6
Phone : (236) 521-0207
FuseBatteryMetals.com
NEWS RELEASE
Fuse Battery Metals Completes Phase 1 of its Exploration Plan at the
Monitor Valley Nevada Lithium Project
Coquitlam, BC, October 26, 2023 – Fuse Battery Metals Inc. (“the Company” or “Fuse”) (TSXV:
FUSE, OTCQB: FUSEF, FRA: 43W3) announces that it has completed the first phase of its summer /
fall exploration program at its Monitor Valley Lithium Property in Lander County Nevada,
approximately 50 kilometres west of Eureka, Nevada.
At the Monitor Valley Lithium Project, the Company contracted the services of Rangefront Geological
(“Rangefront”) to perform both a detailed soil sampling on a 100 m X 100 m spacing and KLM
Geoscience LLC (“KLM’) to perform a CSAMT geophysical survey to obtain information about
subsurface resistivity and geology. A total of nine CSAMT lines were surveyed for a total coverage of
17-line kilometers. Together these geological techniques should help predict geological structure
and possible locations for sub-surface lithium accumulation.
Mr. Tim Fernback, Fuse President & CEO comments “This first phase of the exploration plan in
Monitor Valley is part of a methodical and systematic approach to understanding the underlying
geology of our property. This work will assist our geological team to determine next steps for the
overall lithium exploration program, including but not limited to a subsequent drilling program.”
Soil Samples Taken (Monitor Valley Lithium Project)
Figure 1. Location of soil samples taken and tracks travelled by Rangefront at Monitor Valley
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CSAMT line layout (Monitor Valley Lithium Project)
Figure 2. Location of the CSAMT lines surveyed by KLM at Monitor Valley
Figure 3. Plan view of CSAMT inversions at multiple elevations by KLM at Monitor Valley
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Mr. Fernback, continues “Now that the soil sampling and CSAMT geophysical survey programs are
complete at Monitor Valley, we will focus our efforts on interpreting the data and completing a new
NI #43-101 Technical Report on the property. Once we receive the results from the assay lab, we
will use this information alongside the geophysics data and plan our next steps at Monitor Valley.”
Figure 4. Site location and project boundary for Monitor Valley
About Rangefront Geological
Elko Nevada-based Rangefront Geological has combined in-depth expertise with cutting-edge
technology to provide mining consulting services, contract labor, field crew services, and vehicular
support to the mining industry. With services available across North America, Rangefront works
closely with its clients to provide high-quality mineral exploration services.
About KLM Geoscience LLC
KLM Geoscience is an industry leading, Nevada-based geophysical exploration company,
established in 2014. KLM specializes in a wide array of geophysical methods. Using state of the art
equipment, KLM’s services include induced polarization (IP), natural-source magnetotellurics (MT,
AMT), controlled-source audio-frequency magnetotellurics (CSAMT), passive seismic and
magnetic potential field surveys. KLM prides itself on its safety procedures and logistical planning,
which allows us to efficiently survey in difficult and technical terrain. Its head office location in
Nevada allows KLM to rapidly mobilize and begin work at a moment's notice throughout the Western
United States and beyond
Qualified Person
Mr. Seth Cude, P.G. is a Qualified Person as defined by National Instrument 43-101 and has approved
the technical information contained within this news release.
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About Fuse Battery Metals Inc. https://fusebatterymetals.com
Fuse Battery Metals Inc. is a Canadian based exploration company that trades under the symbol FUSE
on the TSX Venture Exchange. The Company's focus is on exploration for high value metals required
for the manufacturing of batteries.
Nevada Lithium Properties
Fuse owns 100% of the Lithium Springs Property which is located at the southern end of Black
Rock Desert, Nevada, about 132 air-line km north-northeast of Reno, Nevada in Sections 1, 2, 11, and
12 Township 32 North, Range 23. The center of the property is about 40.676° North Latitude,
119.331° West Longitude, (40° 40’ 33” N, 119° 19’ 52”): UTM X 302,900 UTMY 4,505,400 NAD 27;
Zone 11 N. Black Rock Desert basin is about 110 km long and up to 25 km wide at the widest point.
The central playa measures about 50 km northeast - southwest and 10 km southeast - northwest.
The western arm of the Black Rock Desert covers an area of about 2,000 square kilometers and
contains 5 of the 30 currently listed Known Geothermal Resource Areas in Nevada.
Fuse also owns 100% of the Monitor Valley North Lithium Property which includes 97 placer
claims (MVN1 – MVN97) covering approximately 770 hectares of alluvial sediments and clays located
134 km northeast of Tonopah, Nevada. The property is located in Monitor Valley, Nevada, and the
center of the property is about 39.21° North Latitude, 116.65° West Longitude. The property is 55
km due west of the Little Smokey Valley, Nevada where exploration for lithium is ongoing.
Ontario Cobalt Properties
Fuse owns a 100% interest its Glencore Bucke Property, situated in Bucke Township, 6 km east-
northeast of Cobalt, Ontario, subject to a back-in provision, production royalty and off-take
agreement. The Glencore Bucke Property consists of 16.2 hectares and sits along the west boundary
of Fuse’s Teledyne Cobalt Project. The Company also owns a 100% interest, subject to a royalty, in
the Teledyne Project located near Cobalt, Ontario. The Teledyne Property adjoins the south and west
boundaries of claims that hosted the Agnico Mine.
Glencore Bucke/Teledyne Property
Situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario the Glencore Bucke Property
adjoins, on its northeast corner, the former cobalt producing Agaunico Mine. From 1905 through to
1961, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt (“Co”), and 980,000 oz of silver
(“Ag”) (Cunningham-Dunlop, 1979). The amount of cobalt produced from the Agaunico Mine is
greater than that of any other mine in the Cobalt Mining Camp. Production ceased in 1961 due
to depressed Co prices and over-supply (Thomson, 1964). The Glencore property is 100% owned by
Fuse Cobalt subject to a back-in provision, production royalty and off-take agreement.
The associated Teledyne Property, located in Bucke and Lorrain Townships, consists of 5 patented
mining claims totaling 79.1 ha, and 46 unpatented mining claim cells totaling approximately 700 ha.
The Property is easily accessible by highway 567 and a well-maintained secondary road.
Over CAD$25 million has been spent thus far, (2020 dollars inflation-adjusted) on the Teledyne
Property resulting in valuable infrastructure including a development ramp and a modern decline
going down 500 ft parallel to the main cobalt mineralized vein. The Teledyne Property is subject to a
production royalty in favor of New Found Gold and an off-take agreement in favor of Glencore Canada
Corp., while the Glencore Bucke Property is subject to a back-in provision, production royalty, and an
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off-take agreement in favor of Glencore Canada Corp. Glencore PLC is the world’s largest producer of
cobalt. A significant portion of the cobalt that was produced at the Agaunico Mine was located
along structures (Vein #15) that extended southward towards the northern boundary of the
Teledyne Cobalt Property, currently 100% owned by FUSE. Mineralization was generally located
within 125 ft (38.1 m) above the Huronian/Archean unconformity. Stoping widths of up to 50 ft (15.2
m) were not unusual at the Agaunico Mine (Cunningham-Dunlop, 1979).
On Behalf of the Board of Directors
“Tim Fernback”
Tim Fernback, President & CEO
Contact Information:
Email: [email protected]
Phone: 236-521-0207
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that
involve risks and uncertainties. These statements may differ materially from actual future events or results and are
based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be
forward-looking statements. In addition, forward-looking statements include statements in which the Company uses
words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”,
“will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by
their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of
important factors, including, among others, the Company’s ability and continuation of efforts to timely and
completely make available adequate current public information, additional or different regulatory and legal
requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by
the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that
could cause actual results to differ from those contained in the forward-looking statements. The Company does not
undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions
to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence
of unanticipated events. Investors should not place undue reliance on forward-looking statements.