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Fury Gold Mines Limited (TSX:FURY, NYSE American:FURY) is a Canadian-focused exploration and development company strategically positioned within three prolific mining regions: James Bay, Quebec; the Golden Triangle, British Columbia; and the Kitikmeot Region, Nunavut. The company's core projects include the Eau Claire, Homestake Ridge, Committee Bay, Eleonore South Joint Venture (JV), and Gibson MacQuoid, with a primary focus on advancing its flagship asset, the Eau Claire deposit.
The recent completion of the agreement to acquire Newmont Corporation's interest in the Eleonore South gold project, along with 30,392,372 shares of Sirios Resources Inc., underscores Fury's strategic expansion within the James Bay region. This acquisition enhances Fury's prospects for new discoveries and potential growth, reinforcing its commitment to exploration excellence.
Fury's exploration activities continue to yield promising results. The identification of a geochemical gold anomaly at Eleonore South and the completion of significant drilling programs at the Eau Claire and Percival deposits highlight the company's robust pipeline of exploration projects. The 2024 updated Mineral Resource Estimate for the Eau Claire deposit now stands at 1.16Moz gold in the Measured and Indicated category, and an additional 723koz gold in the Inferred category, reflecting the company's success in resource expansion.
Financially, Fury is well-capitalized, having recently secured C$4,005,750 through the sale of common shares of Dolly Varden Silver Corp. These funds will be allocated toward ongoing exploration projects, particularly at the Eau Claire and Eleonore South sites. Fury's strategic investments, including its substantial holding in Dolly Varden Silver Corp, further solidify its financial position.
Under the leadership of CEO Tim Clark, Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement, and sustainable mining. The company's management team and board of directors possess a proven track record in financing and advancing exploration assets, driving Fury's mission to grow its multi-million-ounce gold platform.
For more information on Fury Gold Mines Limited, visit www.furygoldmines.com.
Fury Gold Mines has finalized six drill targets at the Éléonore South gold project in Quebec after completing a surficial geochemical survey. The targets, spanning over 3 kilometers of folded sedimentary stratigraphy, show gold anomalies above the 90th percentile with notable arsenic correlation, similar to Newmont's Éléonore Mine mineralization. The Company plans a fully funded 3,000-5,000 metre diamond drilling program in Q1 2025.
The project is strategically located near Newmont's Éléonore Mine and Sirios' Cheechoo Deposit. The survey collected 2,106 biogeochemical samples at 50m intervals across a 4.2 x 1.9 km area, targeting an interpreted fold nose within the Low Formation sediments.
Fury Gold Mines has completed its 2024 exploration program at Committee Bay in Nunavut, Canada, identifying three drill-ready targets. The program covered a 300km greenstone belt containing the Three Bluffs Gold Resource and various prospects. Key findings include:
- Three Bluffs Shear: Previous drilling yielded 13.93 g/t Au over 10 metres
- Raven Shear: 7 rock samples averaged 16.12 g/t gold
- Burro West: Defined 300x300m gold anomaly with peak value of 50 ppb gold
The exploration collected 546 infill till samples and 69 rock samples across five targets. The Three Bluffs deposit currently hosts 524,000 oz at 7.85 g/t gold (indicated) and 720,000 oz at 7.64 g/t gold (inferred).
Fury Gold Mines (TSX:FURY, NYSE American:FURY) has announced high-grade lithium sampling results from its 100% owned Éléonore South gold project in Quebec. The company collected 34 samples from multiple lepidolite and spodumene-bearing pegmatite outcrops over an area of approximately 1000 x 500 metres. Seven samples returned high-grade values above 1.75% lithium oxide (Li2O), with a peak value of 4.67% Li2O.
The discovery adds to the project's potential, which already includes two distinct styles of gold mineralization. Fury's CEO, Tim Clark, expressed excitement about the lithium findings and their potential to add value for investors. The company is also awaiting results from its summer biogeochemical sampling program targeting the Éléonore style anomaly and a surficial sampling program at Committee Bay.
Fury Gold Mines (TSX:FURY)(NYSE American:FURY) has announced promising results from its 2024 core drilling program at the Serendipity Prospect, part of the Eau Claire project in Quebec. Key highlights include:
- Drill hole 24SD-009 intercepted 12.16 g/t gold over 3.0 m
- Drill hole 24SD-002 intercepted 5.27 g/t gold over 1.0 m
- These intercepts are separated by over 2 km, suggesting potential for a large mineralizing system
- The company drilled 3,871 metres across 10 holes and five distinct targets
- Serendipity is located 16 km northeast of the Eau Claire Deposit and 6.5 km north-northeast of the Percival Deposit
Fury plans to conduct follow-up drilling at Serendipity in 2025, as these results demonstrate the effectiveness of their targeting techniques and potential for new discoveries.
Fury Gold Mines announced the filing of an NI 43-101 technical report for its Eau Claire project, located in Quebec's Eeyou Istchee Territory. The report, dated June 25, 2024, reveals significant increases in gold resources: a 36% increase in Measured and Indicated gold ounces (307koz) and a 44.6% rise in Inferred gold ounces (223koz). The Eau Claire resource remains open for further expansion through additional drilling, with notable changes in vein geometry and numerous anomalies along the Percival-Serendipity trend. The report is available on SEDAR+ and the company's website.
Fury Gold Mines (TSX:FURY, NYSE American:FURY) announced the results of its Annual General Meeting of Shareholders held on June 26, 2024. A total of 43,707,728 common shares, representing 29.92% of the outstanding shares, were present or represented by proxy. All director nominees listed in the management information circular dated May 14, 2024, were elected. Notable voting results include Forrester A. Clark with 99.45% approval, Steve Cook with 98.14%, and Michael Hoffman with 99.45%. Additionally, Deloitte LLP was appointed as the company's auditor with 99.51% of votes in favor. Detailed results are available on sedarplus.ca.
Fury Gold Mines has mobilized a drill to its Serendipity Prospect located in the Eau Claire project in Quebec. The Serendipity Prospect, which is geologically similar to Fury's Percival deposit, features 10 robust geochemical targets with gold values up to 150 times above background levels. Historical drilling in the vicinity showed promising gold values, including 7.9 meters at 1.23 g/t gold and 12.1 meters at 1.38 g/t gold. However, these historical drills are over 800 meters from Fury's current targets, where anomalies are twice as strong.
The company plans to conduct 3,500 meters of diamond drilling on three targets at Serendipity. Additionally, a biogeochemical survey will be launched to identify new targets at the Éléonore South property. According to Bryan Atkinson, SVP Exploration, the anomalies they are targeting are twice as strong as those discovered in historical drilling.
Fury's technical team has refined their targeting strategy based on pathfinder elements like Arsenic, Bismuth, and Tungsten, which are key indicators of gold mineralization in the region. The team aims to test geochemical anomalies across 2 km of the strike length along the Hashimoto Deformation Zone.
Fury Gold Mines (TSX:FURY)(NYSE American:FURY) has successfully closed a C$5 million brokered private placement of 5,320,000 flow-through shares at C$0.94 each. The financing was managed by Haywood Securities Inc., with BMO Capital Markets, H.C. Wainwright & Co., , and Echelon Wealth Partners Inc. also participating. The gross proceeds will fund Canadian exploration expenses, particularly in Québec, with renouncements effective December 31, 2024. The shares are not restricted by resale limitations under Canadian law. Agents received a 6.0% commission on the gross proceeds. The securities are not registered in the U.S. and are not for U.S. distribution.
Fury Gold Mines announced the Spring 2024 drilling results from its Éléonore South project in Quebec. The program included 2,331.4 meters across seven diamond drill holes, revealing significant gold mineralization. Highlights include 137.5 meters at 0.44 g/t gold and 18.7 meters at 0.97 g/t gold from drill hole 24ES-161, and 115.5 meters at 0.50 g/t gold from drill hole 24ES-162. The project area, near Newmont's Éléonore Mine, shows two distinct gold mineralization styles. For Summer 2024, Fury plans further biogeochemical sampling to refine drill targets, focusing on high-grade gold zones. These results bolster Fury's exploration model and confirm the potential of the Cheechoo tonalite zone.
On May 14, 2024, Fury Gold Mines provided an updated Mineral Resource Estimate for the Eau Claire deposit and a Maiden Mineral Resource Estimate for the Percival deposit in Quebec. The Eau Claire project now holds 1.16Moz of gold at 5.64 g/t in the Measured and Indicated category, and an additional 723koz at 4.13 g/t in the Inferred category. This update represents a 36% increase in Measured and Indicated gold ounces and a 45% increase in Inferred gold ounces.
The Percival deposit, located 14 km east of Eau Claire, contains 211koz of gold in the Inferred category at a grade of 2.34 g/t. Both deposits remain open for further expansion through additional drilling. The upgrades are based on extensive drilling, with 21,000 meters at Eau Claire and 7,800 meters at Percival.
The news reflects Fury's disciplined exploration strategy and positions the company for further growth, with additional exploration results expected in the coming weeks.
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