VANCOUVER, BC, Jan. 12, 2021 /CNW/ -- Fuse Cobalt
Inc. ("the Company" or "Fuse") (TSXV: FUSE), (OTC: FUSEF),
(FRA: 43W3) is pleased to announce it plans to review all previous
exploration results on its 100% owned Teels Marsh West Project,
including other potential sites in the vicinity, and evaluate the
data in order to guide a Spring 2021 program aimed at locating
lithium bearing montmorillonite clay deposits. Metallurgical
testing of montmorillonite clay, a non-Hectorite clay, in nearby
Clayton Valley indicates low-cost processing can be achieved by
leaching with low acid consumption (125 kg/t) and high lithium
recovery over 85 per cent Li. These high extractions prove
that the dominant lithium-bearing minerals present are not
hectorite, a refractory clay mineral which requires roasting and/or
high acid consumption to liberate the lithium. (refer to Cypress
Development's Pre-Feasibility Study on Clayton Valley Lithium
Project)
Fuse recently acquired the 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 where Albemarle
(NYSE: ALB), a leader in the global specialty chemicals
industry, announced on January
7th, 2021 plans to expand capacity at their
lithium production facility at Silver Peak, Nevada.
In addition, Albemarle reported it will begin a program to
evaluate clays and other available Nevada resources for commercial production of
lithium. Albemarle said that beginning in 2021, the company plans
to invest $30 million to $50 million to double the current production at
the Nevada site by 2025, making
full use of its brine water rights (refer to Albemarle's News
Release dated January 7, 2021).
About Teels Marsh West:
Shallow auger holes and drill-holes (<60 m) show that unconsolidated basin fill
deposits include clays, clastic rocks silts and sands), evaporate
deposits, and volcanic ash. With the exception of clays, these
rocks represent potential sources of permeability. Volcanic ash
beds could host significant zones of permeability, due to the
relative proximity of Teels Marsh to young volcanic centers at Mono
Craters (near Mono Lake) and Long Valley, California, both located approximately 70 km
to the southwest. These ash layers have proven to be the most
productive brine sources in Clayton Valley (an active geothermal
area).
The Bishop Tuff, which is believed to represent an important
zone of permeability at Clayton Valley, (80 km to the SE of the
only North American lithium brine deposit which is being mined by
Rockwood Lithium Inc.) is likely present in the subsurface at Teels
Marsh.
Direct evidence of an active geothermal system in the Teels
Marsh area has recently been gathered by researchers at the Nevada
Bureau of Mines and Geology, University of
Nevada, Reno and the Desert Research Institute. This
evidence comes from mapping anomalously high temperatures at a
depth of only 2 meters below the basin surface: these temperatures
are as high at 35C compared to background temperatures of
approximately 16-18C. The temperature anomalies occur in two
separate zones, both of which are adjacent to a Quaternary fault on
the western margin of Teels Marsh basin. The two temperature
anomalies have a combined strike length parallel to the fault of
almost 4 km. A USGS geochemical survey conducted in 1976 reported
lithium values as high as 850 ppm from samples taken from springs
marginal to these fault structures. Sampling was supervised by Alan
J. Morris CPG who serves as the project geologist and Qualified
Person on the Teels Marsh West Project.
Mr. Robert Setter, Company
President & CEO states "Our Teels Marsh West project is
adjacent to the Dajin 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. "
Qualified Person
The technical content of this news release has been reviewed and
approved Alan J Morris, CPG, the project geologist and Qualified
Person on the Teels Marsh West Project.
About Fuse Cobalt Inc. www.fusecobalt.com
Fuse Cobalt Inc. is a Canadian based exploration company that
trades under the symbol FUSE on the TSX Venture Exchange. The
Company's focus is on exploration for high value metals required
for the manufacturing of batteries.
Ontario Cobalt Properties: Fuse owns a 100% interest its
Glencore Bucke Property, situated in Bucke Township, 6 km east-northeast of
Cobalt, Ontario, subject to a
back-in provision, production royalty and off-take agreement. The
Glencore Bucke Property consists of 16.2 hectares and sits along
the west boundary of Fuse's Teledyne Cobalt Project. The Company
also owns a 100% interest, subject to a royalty, in the Teledyne
Project which consists of 785 hectares of land and is also located
near Cobalt, Ontario. The Teledyne
Property adjoins the south and west boundaries of claims that
hosted the Agaunico Mine, a former producer of both silver and
cobalt.
On Behalf of the Board of Directors
"Robert Setter"
Robert Setter, President
&CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain
forward-looking statements which include, but are not limited to,
comments that involve future events and conditions, which are
subject to various risks and uncertainties. Except for statements
of historical facts, comments that address resource potential,
upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, and
others are forward-looking. Forward-looking statements are not
guarantees of future performance and actual results may vary
materially from those statements. General business conditions are
factors that could cause actual results to vary materially from
forward-looking statements.
Contact:
Phone : (236) 521-0207
FuseCobalt.com
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SOURCE Fuse Cobalt Inc.
