Fuse Cobalt begins preparing for Glencore Bucke drilling, Ontario

Preparation for Fuse Cobalt Inc’s [FUSE-TSXV; FUSEF-OTCQB; 43W3-FSE] multi-hole diamond drilling exploration program has begun at its 100%-owned cobalt project, the Glencore Bucke property in northeastern Ontario.

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. To date, the company has:

Completed a detailed induced polarization geophysical survey utilizing the Alpha IP Wireless Time Domain Distributed Technology System by Simcoe Geoscience. Preliminary 2D profiles and an early 3D model has been received with the final report pending.

Selected a diamond drilling contractor local to the Cobalt area. They are known for their quality of work and produce excellent meterage. They have experience drilling in the Cobalt Camp and have worked for companies such as First Cobalt Corp (now Electra Battery Metals) as well as Canada Silver Cobalt Works.

Begun planning follow-up drill holes to the 2017 and 2018 drill program.

Begun planning drill holes to test IP anomalies based on the preliminary geophysical data received from Simcoe Geoscience. These drill holes will be finalized once the final report is received.

The Glencore Bucke Property consists of two patented mining claims totaling approximately 16.2 hectares 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 metres 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 metres and the Northwest Zone for a strike length of approximately 45 metres.

Highlights from the 2017 diamond drill program include but are not limited to:

Following up this success, Fuse completed and additional 24 diamond drill holes in 2018 at Glencore-Bucke totaling 2,559 metres 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% cobalt, 9.4 ppm silver, and 1.04% copper over a core length of 8.40 metres from 110.60 to 119.00 metres.