Fuse Cobalt begins preparing for Glencore drilling
2022-09-21 11:44 ET - News Release
Mr. Robert Setter reports
FUSE COBALT ANNOUNCES THAT PREPARATION HAS BEGUN FOR ITS DIAMOND DRILL PROGRAM AT GLENCORE BUCKE PROJECT, IN COBALT, ONTARIO
Preparation for Fuse Cobalt Inc.'s multihole diamond drilling exploration program has begun at its 100-per-cent-owned cobalt project, the Glencore Bucke property in Ontario, Canada.
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.
Fuse Cobalt, Electra Battery sign cobalt supply MOU
2022-08-11 11:11 ET - News Release
Mr. Robert Setter reports
FUSE COBALT SIGNS MOU WITH ELECTRA BATTERY MATERIALS AS A FIRST STEP TO SUPPLY COBALT RAW MATERIAL FOR ELECTRA'S COBALT REFINERY IN ONTARIO
Fuse Cobalt Inc. has signed a non-binding memorandum of understanding (MOU) regarding a cobalt raw material supply agreement with Electra Battery Materials Corp. This agreement is focused primarily on Fuse's Teledyne and Glencore Bucke cobalt exploration projects located in Cobalt, Ont., in close proximity to Electra's cobalt sulphate refinery in Temiskaming Shores, Ont.
Robert Setter, Fuse chief executive officer, comments: "This MOU is the first step towards a potential definitive agreement to supply cobalt raw material for Electra's nearby cobalt refinery and sets out the terms by which we will exchange information with Electra to advance a potential transaction to involving the supply of cobalt raw materials. The end result of this collaboration will be the execution of a definitive agreement to provide cobalt feed stock to the Electra cobalt refinery, which is roughly a stone's throw away from our two cobalt exploration properties in Ontario."
Trent Mell, Electra's chief executive officer, stated: "Having a domestic source of cobalt raw material produced ethically and with low-carbon emissions will help us to better address the demand for onshore EV battery materials. We look forward to working with Fuse Cobalt as they advance development of their projects and begin production."
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