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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:

DDH From (m) To (m) Core length (m) Co (%) Ag (ppm) Cu (ppm) Zn (ppm) Pb (ppm)
GB17-01 18 21 3 0.31 1.5 41 27 4
GB17-02 39.37 39.67 0.3 0.42 707 2100 136 21900
GB17-03 27.15 28.9 1.75 0.27 0.6 4 27 2
GB17-04 16.25 16.75 0.5 1.62 7 994 3493 28
GB17-06 22.5 24.25 1.75 0.25 12 288 132 6
incl. 23.25 23.75 0.5 0.58 28.9 714 39 6
GB17-06 44.4 44.7 0.3 4.45 34.2 460 2600 159
GB17-07 99.79 100.05 0.26 7.64 9.1 441 44 16
GB17-10 28 33 5 0.55 0.8 7 32 2
GB17-13 77.6 78.5 0.9 0.46 132.5 14614 1759 2059
incl. 77.6 78 0.4 0.79 221 24000 3670 3840
GB17-13 100.5 102 1.5 0.32 98.8 8124 417 6588
incl. 100.8 101.4 0.6 0.55 16.9 4970 376 6110
GB17-15 27.5 28.4 0.9 0.55 2.1 29 126 18
incl. 27.8 28.1 0.3 0.92 2.9 40 208 29
GB17-15 42.5 62.7 20.2 0.17 19.9 8983 2638 4747
incl. 62.4 62.7 0.3 8.42 136 1280 884 447