Fuse Cobalt Initiates $500,000 Exploration Program Targeting Significant Cobalt Mineralization
3028 Quadra Court
Coquitlam, BC V3B 5X6
Phone : (236) 521-0207
FuseCobalt.com
Fuse Cobalt Initiates $500,000 Exploration Program Targeting
Significant Cobalt Mineralization
August 23, 2022, Coquitlam, British Columbia – Fuse Cobalt Inc. (“the Company” or “Fuse”) (TSXV:
FUSE), (OTC: FUSEF), (FRA: 43W3) is pleased to announce the Company is about to undertake a “state
of the art” Alpha IPTM geophysical survey provided by Simcoe Geoscience Limited, followed by a multi-
hole diamond drilling exploration program at its 100% owned cobalt project, the Glencore Bucke
Property in Ontario Canada. The planned exploration program has an initial budget of $500,000 and
has been designed to locate and test targets within the vicinity of known mineralization from prior
drilling results.
The Glencore Bucke Property consists of two patented mining claims totaling approximately 16.2 ha
in area located west of and contiguous to Fuse’s Teledyne Cobalt Project. In 1981, Teledyne leased
mining claim 585, now the “Glencore Bucke Property”) from Falconbridge Nickel Mines Ltd. The
company recognized the significant exploration potential that the Property had due to the possible
southern extensions of veins from the Cobalt Contact Mine property adjoining to the north that could
project southward onto the Property. Their work delineated two mineralized zones, named the Main
Zone and Northwest Zone, measuring 500 ft (152.4 m) and 200 ft (70.0 m) in length respectively on
the Glencore Bucke property.
Prior to the 2022 mineral exploration season, in 2017 Fuse completed 21 diamond drill holes totaling
1,913.50 m in a first phase of drilling designed to confirm and extend the existing known mineralized
zones on the property as part of a first phase of drilling. The program tested the Main Zone for a strike
length of approximately 55 m and the Northwest Zone for a strike length of approximately 45 m.
Highlights from the 2017 diamond drill program include but are not limited to:
Table 1: Sample and assay information from the 2017 drill program
Drill Hole From (m) To (m) Length (m) Co (%) Cu (%)
GB17-07 99.79 100.05 0.26 7.64 0.04
GB17-10 28.00 33.00 5.00 0.55 < 0.01
GB17-15 42.50 62.70 20.20 0.17 0.90
Including 62.40 62.70 0.30 8.42 0.13
GB17-21 67.50 73.60 6.10 0.08 1.25
Including 69.70 70.30 0.60 0.73 1.30
Note: The above intervals represent core length and not true width of the structures or intervals. Sample and
assay information was taken from the NI 43-101 Technical Report on the Teledyne Cobalt and Glencore Bucke
Project Feb 4, 2021. Bolded Intervals represent grade composites.
Following up this success, Fuse completed and additional 24 diamond drill holes in 2018 at Glencore-
Bucke totaling 2,559 m in phase II. The Company successfully intersected mineralized zones along
strike in addition to both vertically above and below previous intersections reported on the Main and
Northwest Zones. One of the holes drilled in 2018, GB18-44, intersected visible cobalt mineralization
and returned grades of 0.11% Co, 9.4 ppm Ag, and 1.04% Cu over a core length of 8.40 m from
110.60 to 119.00m (NI 43-101 Technical Report on the Teledyne Cobalt and Glencore Bucke Project Feb 4, 2021).
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Qualified Person
The technical contents of this news release has been reviewed and approved by Gerhard Kiessling, P.
Geo, who has been appointed Project Manager and is a qualified person in accordance with National
Instrument 43-101.
About Fuse Cobalt Inc. https://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 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
Cobalt mineralization consisted of cobaltite and smaltite hosted within steeply dipping veins and
extensive disseminations within Huronian sedimentary rocks. From 1951 through to 1957, the
average cobalt content of the mineralized material mined at the Agaunico Mine was approximately
0.5%. In 1955, 526,000 lbs. of Co, 146,000 oz of Ag, 117,000 lbs. of nickel, and 81,000 lbs. of copper
were recovered from 62,000 tons of ore (Cunningham-Dunlop, 1979).
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 $25 million Can 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
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).
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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.