Fuse Cobalt Acquires 100% of Teels Marsh West Lithium Project in Mineral County Nevada
1220-789 West Pender St
Vancouver BC V6C 1H2
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FuseCobalt.com
Fuse Cobalt Acquires 100% of Teels Marsh West Lithium Project in
Mineral County Nevada
PRESS RELEASE
Vancouver, BC – July 8, 2020 – Fuse Cobalt Inc. (“the Company“ or “Fuse”) (TSXV: FUSE, OTCQB:
FUSEF FRA:43W3) is pleased to announce it has acquired, by staking, 100 placer claims covering
2000 acres (809 hectares) at Teels Marsh, Nevada. The property, called Teels Marsh West is highly
prospective for Lithium brines and is located approximately 48 miles northwest of Clayton Valley
and the Rockwood Lithium Mine, North America’s only producing brine-based Lithium mine
supporting lithium production since 1967. Access to Teels Marsh is via a dirt road, west of Highway
95 and northwest of Highway 360 in Nevada.
Teels Marsh West is a highly prospective Lithium exploration project, 100% owned without any
royalties, located on the western part of a large evaporation pond, or playa (also known as a salar).
Structural analysis reveals that Teels Marsh is bounded by faults and is tectonically active. Tectonic
activities supply additional local permeability that could be provided by the faults that bound the
graben and sub-basins.
Robert Setter, Fuse President & CEO comments “Fuse staked the Teels Marsh West Lithium project
because of our commitment to energy metal exploration and finding great projects in North America
that can contribute to the production of the lithium ion battery. Teels Marsh West is such a project.
Teels Marsh is a dry lake very similar to the Clayton Valley property, being that they are both closed
desert basins (playas) that were mined for borax starting in the mid 1800’s 78 kilometres (48 miles)
northwest of the Clayton Valley which hosts Albemarle's Silver Peak Lithium Brine Mine, North
America’s only producing Lithium “brine-based deposit”. We look forward to developing an
exploration plan and continuing to work on this project in a very promising area for lithium
exploration.”
A finder’s fee in the amount of 200,000 shares will be paid in connection with a finder’s fee agreement
for locating and acquiring the Teels Marsh West Project. The finder’s fee is subject to TSX Venture
Exchange approval.
About Teels Marsh West:
Shallow auger holes and drill-holes (<60 m) show that unconsolidated basin fill deposits include
clays, clastic rocks silts and sands), evaporate deposits, and volcanic ash. With the exception of clays,
these rocks represent potential sources of permeability. Volcanic ash beds could host significant
zones of permeability, due to the relative proximity of Teels Marsh to young volcanic centers at Mono
Craters (near Mono Lake) and Long Valley, California, both located approximately 70 km to the
southwest. These ash layers have proven to be the most productive brine sources in Clayton Valley
(an active geothermal area).
The Bishop Tuff, which is believed to represent an important zone of permeability at Clayton Valley,
(80 km to the SE of the only North American lithium brine deposit which is being mined by Rockwood
Lithium Inc.) is likely present in the subsurface at Teels Marsh.
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Direct evidence of an active geothermal system in the Teels Marsh area has recently been gathered
by researchers at the Nevada Bureau of Mines and Geology, University of Nevada, Reno and the
Desert Research Institute. This evidence comes from mapping anomalously high temperatures at a
depth of only 2 meters below the basin surface: these temperatures are as high at 35C compared to
background temperatures of approximately 16-18C. The temperature anomalies occur in two
separate zones, both of which are adjacent to a Quaternary fault on the western margin of Teels
Marsh basin. The two temperature anomalies have a combined strike length parallel to the fault of
almost 4 km. A USGS geochemical survey conducted in 1976 reported lithium values as high as
850 ppm from samples taken from springs marginal to these fault structures.
Historical Exploration Results from Teels Marsh West:
In 2016, Nevada Energy Metals Inc. (TSXV: BFF) collected twenty-seven shallow auger sediment
samples from the Teels Marsh West Project area. This initial sampling program was primarily a test
of the sampling method to see if it could be used to collect samples beneath low sand dunes and
alluvial gravel. Additional samples were collected using a powered auger to reach a maximum depth
of 2.9 meters (9.5 ft.) below the surface. The holes were initially drilled with an electric auger and
bottom hole samples were collected with a hand tulip style sampler. Sampling was conducted by
Pediment Gold LLC of Sparks, Nevada. Samples were collected on site and transported to the ALS
Global preparation facility in Elko, Nevada by the Nevada Energy Metals project geologist. Samples
were analyzed by ALS using their MEMS41 multi-element package. QA/QC standards and blanks
were inserted into the sample stream to assure accuracy.
Lithium values ranged from 8.9 to 104.5 ppm. The two best results (93.2 and 104.5) were obtained
downstream of thermal springs on the western part of the property. A general increase in values was
noted at the playa margin with lower values in the alluvial fan on the southwestern part of the
property. Many of the sites on the alluvial fan did not penetrate to the maximum depth due to
boulders. Sampling was supervised by Alan J. Morris CPG who serves as the project geologist and
Qualified Person on the Teels Marsh West Project.
Mr. Robert Setter, Company President & CEO states “Our Teels Marsh West project is adjacent to the
Daijin Lithium Corp.’s (TSXV: DJI) Teels Marsh project which comprises a land position of 3,202
hectares and 403 Placer claims. In 2018, Dajin began to move forward with construction of the
engineered roads and drill pads at Teels Marsh valley in preparation for the drilling of four (4)
production sized exploration wells. The area is getting a lot of attention as EV battery production
builds up in Nevada and globally, and we look forward to continuing to increase the value of our
strategic company assets, for the benefit of our shareholders. “
Qualified Person
The technical content of this news release has been reviewed and approved Alan J Morris, CPG, the
project geologist and Qualified Person on the Teels Marsh West Project
About Fuse Cobalt Inc. www.fusecobalt.com
Fuse Cobalt 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.
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
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the west boundary of Fuse’s Teledyne Cobalt Project. The Company also owns a 100% interest,
subject to a royalty, in the Teledyne Project which consists of 785 hectares of land and is also located
near Cobalt, Ontario. The Teledyne Property adjoins the south and west boundaries of claims that
hosted the Agaunico Mine, a former producer of both silver and cobalt.
On Behalf of the Board of Directors
“Robert Setter”
Robert Setter, President &CEO
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.
This news release may contain forward-looking statements which include, but are not limited to, comments that
involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of
historical facts, comments that address resource potential, upcoming work programs, geological interpretations,
receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-
looking statements are not guarantees of future performance and actual results may vary materially from those
statements. General business conditions are factors that could cause actual results to vary materially from
forward-looking statements.