(TheNewswire)
Vancouver, BC – TheNewswire - August 25, 2022 – Fuse CobaltInc. (“the Company“ or “Fuse”) (TSXV: FUSE ) , ( OTC:FUSEF ), ( FRA:43W3) is pleased toannounce that effective today, Mr. Gerhard Kiessling, P. Geo., hasjoined the Fuse Strategic Advisory Board.
Gerhard Kiessling, P. Geo., has more than 6 yearsexperience with both mineral exploration and development as aprofessional geologist with a focus on managing mineral explorationand drilling programs for both precious and base metals in Canada. With this experience, Mr. Kiessling has gained a wide range offield exploration and drilling experience throughout the Province ofOntario.
Mr. Greg Reimer, Fuse’s Chairman states, “HavingGerhard join our company in a strategic advisory capacity complimentsthe recent appointments of Frank Basa and Matthew Halliday to the sameadvisory board and adds another layer of practical experience withmanaging mineral exploration programs. His extensive knowledge ofthe geology of northern Ontario is a major plus for Fuse. Gerhard hasdirectly led several exploration projects in the area focused on avariety of metals and geological structures which will be important aswe ramp up cobalt exploration at the Glencore Bucke Cobalt property innorthern Ontario.”
Mr. Kiessling is the current VP Exploration of CanadaSilver Cobalt Works Inc. (“Canada Cobalt”) ( TSXV: CCW, OTC: CCWOF, FRA:4T9B ), a position he was recently promoted to inAugust 2022. Prior to this, Mr. Kiessling was the ExplorationManager for Canada Cobalt since 2020.
Canada Silver Cobalt Works Inc. is a dual-focusprecious metals and battery metals junior mining company with avaluable portfolio of critical energy metals projects based in safeand ecologically responsible jurisdictions. Canada Cobalt has 100% ownership of the Castle mine and the78 sq. km Castle Property with strong exploration upside in theprolific past producing Gowganda high-grade Silver Camp of NorthernOntario. Canada Cobalt is strategically positioned to become avertically integrated North American leader in cobalt extraction andrecovery while it also exploits a powerful new silver-gold marketcycle.
Prior to working for Canada Cobalt, Mr. Kiessling wasthe Exploration Geologist for McEwen Mining Inc. ( TSX: MUX, NYSE: MUX ),a successful gold and silver mining company based out of TorontoCanada, an Exploration Geologist for First Cobalt Corp. (renamedElectra Battery Materials Corporation NASDAQ: ELBM, TSX: ELBM ), as well as, a Exploration Geologist with Kirkland LakeGold Inc. ( TSX: KL, NYSE:KL ), prior to its acquisition in February 2022by Agnico Eagle Mines Limited ( TSX: AEM, NYSE: AEM ). Kirkland Lake Gold wasa successful mining company and was a key part of the S&P / TSX 60Index at the time of its acquisition.
Mr. Kiessling graduated from the University of Waterlooin 2016 with a Bachelor of Science (Honors), majoring in EarthScience. He is an active and practicing member of the ProfessionalGeoscientists of Ontario (PGO).
About Fuse Cobalt Inc. https://fusecobalt.com/ https://fusecobalt.com/
Fuse Cobalt Inc. is a Canadian based explorationcompany that trades under the symbol FUSE on the TSX Venture Exchange.The Company's focus is on exploration for high value metals requiredfor the manufacturing of batteries.
Ontario Cobalt Properties :
Fuse owns a 100% interest its Glencore Bucke Property,s ituated in Bucke Township, 6 km east-northeastof Cobalt, Ontario, subject to a back-in provision, production royaltyand off-take agreement. The Glencore Bucke Property consists of 16.2hectares and sits along the west boundary of Fuse’s Teledyne CobaltProject. The Company also owns a 100% interest, subject to aroyalty, in the Teledyne Project located near Cobalt, Ontario. TheTeledyne Property adjoins the south and west boundaries of claims thathosted the Agaunico Mine.
Glencore Bucke/TeledyneProperty
Situated in Bucke Township, 6 km east-northeast ofCobalt, Ontario the Glencore Bucke Property adjoins, on its northeastcorner, the former cobalt producing Agaunico Mine. From 1905 throughto 1961, the Agaunico Mine produced a total of 4,350,000 lbs. ofcobalt (“Co”), and 980,000 oz of silver (“Ag”)(Cunningham-Dunlop, 1979). Theamount of cobalt produced from the Agaunico Mine is greater than thatof any other mine in the Cobalt Mining Camp. Production ceased in 1961 due to depressed Co prices and over-supply(Thomson, 1964). The Glencore property is 100% owned by Fuse Cobaltsubject to a back-in provision, production royalty and off-takeagreement.
Cobalt mineralization consisted of cobaltite andsmaltite hosted within steeply dipping veins and extensivedisseminations within Huronian sedimentary rocks. From 1951 through to1957, the average cobalt content of the mineralized material mined atthe Agaunico Mine was approximately 0.5%. In 1955, 526,000 lbs. of Co,146,000 oz of Ag, 117,000 lbs. of nickel, and 81,000 lbs. of copperwere recovered from 62,000 tons of ore (Cunningham-Dunlop,1979).
The associated Teledyne Property, located in Bucke andLorrain Townships, consists of 5 patented mining claims totaling 79.1ha, and 46 unpatented mining claim cells totaling approximately 700ha. The Property is easily accessible by highway 567 and awell-maintained secondary road .
Over $25 million Can has been spent thus far, (2020dollars inflation-adjusted) on the Teledyne Property resulting invaluable infrastructure including a development ramp and a moderndecline going down 500 ft parallel to the main cobalt mineralizedvein. The Teledyne Property is subject to a production royalty infavor of New Found Gold and an off-take agreement in favor of GlencoreCanada Corp., while the Glencore Bucke Property is subject to aback-in provision, production royalty, and an off-take agreement infavor of Glencore Canada Corp. Glencore PLC is the world’s largestproducer of cobalt. Asignificant portion of the cobalt that was produced at the AgaunicoMine was located along structures (Vein #15) that extended southwardtowards the northern boundary of the Teledyne Cobalt Property, currently 100% owned by FUSE. Mineralization wasgenerally located within 125 ft (38.1 m) above the Huronian/Archeanunconformity. Stoping widths of up to 50 ft (15.2 m) were not unusualat the Agaunico Mine (Cunningham-Dunlop, 1979).
On Behalf of the Board of Directors
“Greg Reimer”
Greg Reimer, Chairman
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from those statements. General businessconditions are factors that could cause actual results to varymaterially from forward-looking statements.
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