The Teledyne Project
Unlocking the Potential of Cobalt: Fuse’s Teledyne Property, a Valuable Asset with Historical Drilling and Infrastructure for Future Exploration.
In 2016, Fuse entered into an option agreement to acquire up to a 100% interest, subject to a 2% net smelter royalty (“NSR”), on the Teledyne Cobalt Property then in the spring of 2018, Fuse announced that it had amended and accelerated the option agreement and had earned a 100% interest in the Property with the vendors retaining the 2% NSR. The 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 705.99 ha. The Property is easily accessible by highway 567 and a well-maintained secondary road.
Based on historical drilling and data a cobalt resource was developed in the 1980’s however it is not consistent with current 43-101 standards and will require work to be completed by a QP in order to be brought up to current NI -43-101 resource standards. As such the Company is not treating the historical reserve estimate as a current mineral resource or mineral reserve. 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 vein.
Latest Developments at Fuse's Teledyne and Glencore Bucke Cobalt Properties
Teledyne Cobalt Property
In 2017, Fuse completed 11 diamond drill holes totaling 2,204 m at the Teledyne Cobalt Property, testing the Main Zone for a strike length of 220 m and confirming mineralization along strike and up and down dip. Results included 1.82% cobalt over 6.00 m and 5.06% Co over 1.75 m. In 2018, Phase 2 drilling involved 9 additional diamond drill holes totaling 1,713 m, testing mineralized zones and outlying targets, with results expected in Q2 2020. The Teledyne Cobalt Property covers 607.1 ha with 5 patented and 8 unpatented mining claims, while the Glencore Bucke Cobalt Property consists of 1 patented mining claim covering approximately 16.2 ha. Both properties have off-take agreements with Glencore Canada Corp, the world’s largest cobalt producer.
Exploration and Development
Most Recent Drill Results
Lithium Clay Deposits
|Hole ID||Co pct||Length (m)||From (m)||To (m)|
We follow strict policies and procedures to minimize the impact of our exploration and development activities on the environment and local communities. We engage with local stakeholders and respect their rights and interests.
The demand for Lithium is expected to increase significantly in the coming years due to its crucial role in the production of electric vehicle batteries and energy storage systems, driven by the rapid growth of the electric vehicle market.
With our expertise in mineral exploration and our commitment to environmental and social responsibility, we are well-positioned to unlock the potential of the Lithium deposit and create value for our shareholders and stakeholders.
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