Fuse Battery Metals Inc. (TSXV: FUSE, OTC: FSBMF, FRA: 43W3) has entered into an option agreement with Cronin Exploration Inc., David Robinson, and Kyle Hookie to acquire up to an 80% interest in the 4,210-hectare Foggy Mountain copper-gold-silver project in north-central British Columbia. The deal, announced via NEWMEDIAWIRE, represents a significant new growth opportunity for Fuse, providing exposure to copper and gold exploration in the Toodoggone Mining District, a region known for porphyry and epithermal mineral systems.
The property is located approximately 10 kilometres east of Centerra Gold’s Kemess Mine, an established mineral district with regional road, power, and camp infrastructure. Historical 2022 rock sampling returned peak values of 3.52% copper, 11.3 grams per tonne gold, and 90.5 grams per tonne silver. These individual surface-sample results are not necessarily representative of mineralization across the property, and no mineral resource or reserve has been defined. The project is considered early-stage with limited historical exploration, offering scope for systematic follow-up work.
Under the option agreement, to earn an initial 70% interest, Fuse must make a C$50,000 cash payment, issue 2,250,000 common shares and 1,500,000 warrants, and complete a minimum 3,500-metre drilling program within three years. Fuse may earn an additional 10% interest by completing a preliminary economic assessment (PEA) in accordance with NI 43-101 and making a further C$150,000 cash payment. The agreement is subject to final acceptance by the TSX Venture Exchange.
CEO Tim Fernback commented, “Foggy Mountain is an exciting new opportunity for Fuse as we broaden our exploration focus to include a copper-gold project in one of British Columbia’s established mineral districts. The historical sampling results and the combination of geophysical and geochemical targets give us a compelling starting point for a disciplined exploration program.”
The project presentation identifies several exploration concepts, including alkalic porphyry copper-gold, calc-alkalic porphyry copper-gold-silver-molybdenum, and high- and low-sulphidation epithermal gold-silver systems. A 2025 geophysical interpretation outlined areas of interest, including interpreted intrusive and linear structural features that coincide with anomalous copper stream-sediment results and nearby rock samples with anomalous copper and gold values. A proposed first phase of exploration includes additional geological mapping and sampling to follow up on the 2025 geophysical work, ground-truth interpreted structures, and investigate elevated copper in stream sediments. Diamond drilling of the highest-priority targets could follow, subject to results, permitting, financing, and the Company’s review of the program.
The property is situated in the northern portion of the Quesnel Terrane, an island arc formed along the western North American continental margin. The area is bounded to the east by the Cassiar Terrane, with the two terranes divided by a structurally complex Early Jurassic system of northwest trending thrust faults, including the Swannell Fault. Figure 1- Foggy Mountain Property Location – Geologic Zones and Figure 2 – Foggy Mountain Property Claims illustrate the property’s geological setting and claim boundaries.
Upon earning the additional 10% interest, the parties are to enter into a joint venture under which Fuse would hold an 80% interest and the Optionors would collectively hold a 20% interest. The property is subject to a 2% net smelter returns royalty in favour of Cronin Exploration Inc., and Fuse has the right to purchase 50% of that royalty for C$1,500,000 within 30 days following commencement of commercial production. The earn-in requirements are optional. The original release is available at www.newmediawire.com.
