TSX.V: FUSE

Ontario, Canada: Cobalt Property

Fuse Ownership: 100%

Total Area: 40.23 ac

Total Area:
40.23 ac

Fuse Ownership:
100%

Ontario, Canada:
Cobalt Property

GLENCORE BUCKE
PROJECT

Project Overview

The Glencore Bucke property consists of two patented mining claims totaling approximately 16.2 ha in area located on the west boundary of Fuse’s Teledyne Cobalt Project. In 1981, Teledyne leased mining claim 585 (“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 the Cobalt Contact veins on mining claim T43819 that projected southward onto the Property. In the fall of 2017, Fuse completed 21 diamond drill holes totalling 1,913.50 m at Glencore Bucke in a first phase of drilling designed to confirm and extend the existing known mineralized zones on the property. 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.

Results were encouraging with the majority of holes hitting cobalt mineralization including 4.45% cobalt over 0.30 metres in hole GB 17-06 and 8.42% cobalt over 0.3 metres in hole GB-17-15 (core lengths only, not true widths.) In 2018, Fuse completed 24 diamond drill holes totaling 2,559 m in phase II at Glencore Bucke with the intent of intersecting mineralized zones along strike and vertically above and below previous intersections reported in 2017 on the Main and Northwest Zones. The Phase 2 program also tested several outlying targets with drill hole GB18-41 aimed at testing for mineralization at depth beneath a historical trench which intersected anomalous cobalt mineralization. Cobalt, zinc, silver and copper were present. Not all holes were released, with holes GB18-31 through to GB18-40 expected in Q2 2020.

Significant cobalt intersections from the Phase 1 diamond drilling program include:

DDHFrom (m)To (m)Core length (m)Co (%)Ag (ppm)Cu (ppm)Zn (ppm)Pb (ppm)
GB17-01182130.311.541274
GB17-0239.3739.670.30.42707210013621900
GB17-0327.1528.91.750.270.64272
GB17-0416.2516.750.51.627994349328
GB17-0622.524.251.750.25122881326
incl.23.2523.750.50.5828.9714396
GB17-0644.444.70.34.4534.24602600159
GB17-0799.79100.050.267.649.14414416
GB17-10283350.550.87322
GB17-1377.678.50.90.46132.51461417592059
incl.77.6780.40.792212400036703840
GB17-13100.51021.50.3298.881244176588
incl.100.8101.40.60.5516.949703766110
GB17-1527.528.40.90.552.12912618
incl.27.828.10.30.922.94020829
GB17-1542.562.720.20.1719.9898326384747
incl.62.462.70.38.421361280884447