Fuse Cobalt Inc is a Vancouver-based company that engages in developing, manufacturing, and acquiring minerals properties such as Cobalt and energy metal products to manufacture batteries in Canada.
Cobalt is used in lithium-ion batteries and electric vehicles.
Fuse Cobalt is presently focused on exploration activities at three projects, namely Glencore Bucke Property, Teledyne Cobalt Project and Teels Marsh Exploration Project.
The company has 100 per cent stake in the cobalt project, consisting of five patented mining claims and eight unpatented claims in an area of 705.99 hectares. The project is located near Bucke and Lorrain Towns in Cobalt, Ontario.
The firm wholly owned the project in 2016 under an option agreement, which is subject to royalty. In 2017, the mining firm completed an exploration program consisting of drilling 11 diamond holes to a depth of 2,204 meter on the cobalt property.
Fuse Cobalt Inc wholly owns the project that consists of two patented mining claims in 16.2 hectares of land. It is located to the west of the Teledyne Project in Ontario. In 2017, the company completed an exploration program that included drilling 21 diamond holes to a depth of 1,913.50 meter in the first phase.
Under the second phase drilling, conducted in 2018, as many as 24 diamond drill holes to a depth of 2,559 meter were drilled, the firm claims.
Another wholly owned project, Teels Marsh consists of 100 placer mines covering 2000 acres. It is located northwest of Clayton Valley near Rockwood Lithium Mine. The property hosts several lithium brines. Since 1967, the firm say that Rockwood mine has contributed to brine-based lithium deposits in North America. It is the only producing mine that supports lithium production.
On January 12, 2021, the Canadian company decided to explore lithium-bearing montmorillonite clay deposits on Teels Marsh, Nevada property.
Further in September 2020, the firm finished its internal conceptual study for restoring a ramp at the Teledyne project, including de-watering and rehabilitation.
Through the initiative, the exploration firm says that property could host high grade cobalt mineralization.
The firm is listed on TSX Venture, Frankfurt Stock Exchange, and US OTC Market. Its trading symbol on TSXV is ‘FUSE’.