Fuse Cobalt Inc. 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 dirt road, west of Highway 95 and northwest of Highway 360.
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.
In May 2016, the previous owners conducted shallow auger hole samples resulting in lithium values ranging from 8.0 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.
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.
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.“