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wealthyjr on Jul 30, 2020 1:00am
News Out
Dajin Resources Negotiates Data Sharing Agreement with Neighbor, Fuse Cobalt, At Teels Marsh West Lithium Project in Nevada (TheNewswire) Vancouver, BC - TheNewswire – July 28, 2020 –
Fuse Cobalt Inc. (“the Company“ or “Fuse”) (TSXV:FUSE) (OTC:FUSEF) (FRA:43W3) is pleased to announce that it has successfully negotiated a reciprocal data sharing agreement with Dajin Lithium Corp.’s (TSXV: DJI) that is to be formalized in an agreement over the next couple days. Robert Setter, Fuse President & CEO comments “Approaching Dajin about sharing data will allow both of our companies to incorporate the western area of Teels Marsh into the existing basin model. Adding our data set to the existing Dajin exploration model, will save considerable time and money when we look at the development of the lithium brine potential for the Teels Marsh property as a whole. The initial work will include a gravity survey at Teels Marsh (see accompanying image of suggested station locations). The goal of this gravity survey is to identify the basin architecture to the southwest of the area covered in the previous Dajin gravity survey and link up the two data sets.
Teels Marsh West Proposed Gravity Survey Locations – Teels Marsh West Click Image To View Full Size Robert Setter continues “This program west of our claim block would allow us see if there might be a potential buried sub-basin to the west which could be an area of accumulated lithium. The remaining data points to lows in the area that we would like to see how they might be interconnected on the property to advance the project as there are at least two potential sub-basins on the property. Our follow-up work program will include the use of reverse circulation holes to test for lithium bearing clays going down about 200 m which will give a good indication of the lithium content in the clay but also the content of the brine solution. After this work program is completed, we will update and amend an existing draft NI #43-101 on the property for eventual Sedar filing and publication”.
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.
Historical Exploration Results from Teels Marsh West:
In 2016, Nevada Energy Metals Inc. (TSXV: BFF) collected twenty-seven shallow auger sediment samples from the Teels Marsh West Project area. 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. Sampling was conducted by Pediment Gold LLC of Sparks, Nevada. Samples were collected on site and transported to the ALS Global preparation facility in Elko, Nevada by the Nevada Energy Metals project geologist. Samples were analyzed by ALS using their MEMS41 multi-element package. QA/QC standards and blanks were inserted into the sample stream to assure accuracy.
Lithium values ranged from 8.9 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. A general increase in values was noted at the playa margin with lower values in the alluvial fan on the southwestern part of the property. Many of the sites on the alluvial fan did not penetrate to the maximum depth due to boulders. Sampling was supervised by Alan J. Morris CPG who serves as the project geologist and Qualified Person on the Teels Marsh West Project.
The Teels Marsh West project is adjacent to the Dajin Lithium Corp.’s (TSXV: DJI) project and 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. This area is getting a lot of attention as EV battery production builds up in Nevada and globally.
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.