Fury Finalizes Six Éléonore Style Drill Targets at the Éléonore South Gold Project
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 ha definito sei obiettivi di perforazione nel progetto aurifero di Éléonore Sud in Quebec dopo aver completato un'indagine geochimica superficiale. Gli obiettivi, che si estendono per oltre 3 chilometri di stratigrafia sedimentaria piegata, mostrano anomalie di oro sopra il 90° percentile con una nota correlazione con l'arsenico, simile alla mineralizzazione della miniera Éléonore di Newmont. L'azienda prevede un programma di perforazione a diamante completamente finanziato di 3.000-5.000 metri nel primo trimestre del 2025.
Il progetto è strategicamente situato vicino alla miniera Éléonore di Newmont e al deposito Cheechoo di Sirios. L'indagine ha raccolto 2.106 campioni biogeochimici a intervalli di 50 m su un'area di 4,2 x 1,9 km, mirando a un naso di piega interpretato all'interno dei sedimenti della Formazione Low.
Fury Gold Mines ha finalizado seis objetivos de perforación en el proyecto de oro Éléonore Sur en Quebec tras completar una encuesta geoquímica superficial. Los objetivos, que se extienden por más de 3 kilómetros de estratigrafía sedimentaria plegada, muestran anomalías de oro por encima del percentil 90 con una notable correlación de arsénico, similar a la mineralización de la mina Éléonore de Newmont. La empresa planea un programa de perforación con diamante totalmente financiado de 3,000-5,000 metros en el primer trimestre de 2025.
El proyecto está estratégicamente ubicado cerca de la mina Éléonore de Newmont y del depósito Cheechoo de Sirios. La encuesta recolectó 2,106 muestras bioge Químicas a intervalos de 50 m a lo largo de un área de 4.2 x 1.9 km, dirigidas a un pliegue interpretado dentro de los sedimentos de la Formación Low.
퓨리 골드 마인은 지표 화학 조사를 완료한 후 퀘벡의 에레오노르 남부 금 프로젝트에서 여섯 개의 드릴 타겟을 확정했습니다. 이 타겟들은 3킬로미터에 걸쳐 접힌 퇴적 지층을 포함하며, 90번째 백분위수 이상의 금 이상치를 나타내고 중요한 비소 상관 관계를 보여주며, 이는 뉴몬트의 에레오노르 광산의 광물화와 유사합니다. 회사는 2025년 1분기에 3,000-5,000 미터의 다이아몬드 드릴링 프로그램을 완전 자금 지원을 통해 계획하고 있습니다.
이 프로젝트는 뉴몬트의 에레오노르 광산과 시리오스의 치추 광구와 전략적으로 가까운 위치에 있습니다. 조사는 4.2 x 1.9 km 지역에서 50m 간격으로 2,106개의 생물화학 샘플을 수집하여 저형성 퇴적물 속의 해석된 접힌 부분을 목표로 하였습니다.
Fury Gold Mines a finalisé six cibles de forage sur le projet aurifère d'Éléonore Sud au Québec, après avoir réalisé une enquête géochimique de surface. Les cibles, s'étendant sur plus de 3 kilomètres de stratigraphie sédimentaire plissée, présentent des anomalies d'or au-dessus du 90e percentile avec une corrélation notable avec l'arsenic, similaire à la minéralisation de la mine d'Éléonore de Newmont. La société prévoit un programme de forage au diamant entièrement financé de 3 000 à 5 000 mètres au premier trimestre 2025.
Le projet est stratégiquement situé près de la mine d'Éléonore de Newmont et du dépôt Cheechoo de Sirios. L'enquête a collecté 2 106 échantillons biogéochimiques à des intervalles de 50 m sur une zone de 4,2 x 1,9 km, visant un pli interprété au sein des sédiments de la formation Low.
Fury Gold Mines hat sechs Bohrziele im Goldprojekt Éléonore Süd in Quebec festgelegt, nachdem eine oberflächengeochemische Untersuchung abgeschlossen wurde. Die Ziele erstrecken sich über mehr als 3 Kilometer gefalteter sedimentärer Stratigraphie und zeigen Goldanomalien über dem 90. Perzentil mit signifikanter Arsenkorrelation, ähnlich der Mineralisierung in der Éléonore Mine von Newmont. Das Unternehmen plant ein vollständig finanziertes Diamantbohrprogramm von 3.000-5.000 Metern im ersten Quartal 2025.
Das Projekt liegt strategisch günstig in der Nähe der Éléonore Mine von Newmont und der Cheechoo Lagerstätte von Sirios. In der Untersuchung wurden 2.106 biogeochemische Proben in Abständen von 50 m über ein Gebiet von 4,2 x 1,9 km gesammelt, wobei ein interpretiertes Faltenhaupt innerhalb der Sedimente der Low Formation anvisiert wurde.
- Fully funded drilling program of 3,000-5,000 metres secured for Q1 2025
- Strategic location near Newmont's Éléonore Mine (32.6Mt @ 7.8g/t Au)
- Six high-priority drill targets identified with gold anomalies above 90th percentile
- None.
Insights
The biogeochemical survey results reveal six promising drill targets within the same sedimentary package hosting Newmont's Éléonore Mine, suggesting significant exploration potential. The targets' location within an east-plunging regional fold nose, combined with pristine gold grains found down-ice, indicates a potentially undiscovered mineralized system.
The survey's methodical approach, covering 4.2 x 1.9 km with samples at tight 50m intervals, provides robust data resolution. The correlation between gold anomalies and arsenic pathfinders mirrors the geochemical signature of the Éléonore Mine, strengthening the geological model. The planned 3,000-5,000m drill program is appropriately sized for initial target testing.
This exploration development significantly enhances FURY's asset portfolio value. The project's strategic location between Newmont's Éléonore Mine and Sirios' Cheechoo Deposit positions it in a proven gold district. The 100% ownership acquired from Newmont earlier this year eliminates joint venture complications and provides full exposure to potential discovery upside.
The fully funded drill program planned for Q1 2025 indicates strong financial position without immediate dilution concerns. The systematic, data-driven approach to target generation reduces exploration risk and optimizes capital deployment. A discovery here could substantially revalue the company given its current market cap of just
TORONTO, ON / ACCESSWIRE / November 12, 2024 / Fury Gold Mines Limited (TSX:FURY) and (NYSE American:FURY) ("Fury" or the "Company") is pleased to announce that it has finalized drill targeting after completing a surficial geochemical survey at the Éléonore South gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. Drilling will target robust geochemical gold anomalies within the same sedimentary rock package that hosts Newmont's Éléonore Mine. The completed biogeochemical sampling survey covered an interpreted fold nose within the Low Formation sediments where an orientation level study identified a large-scale gold anomaly in a similar geological, geophysical, and structural setting to that of the nearby Éléonore Mine (see news release dated March 5, 2024). Six priority drill targets across over 3 kilometres (km) of prospective folded sedimentary stratigraphy have been identified (Figure 1). These six targets encompass multi point gold anomalies above the 90th percentile of the data and correlate with moderate pathfinder elemental anomalies, most notably arsenic which is associated with gold mineralization at the Éléonore Mine. The Company intends to mobilize crews in Q1 2025 for an initial fully funded 3,000 - 5,000 metre (m) diamond drilling program.
"Since acquiring
Éléonore South Project
The Éléonore South project is strategically located in an area of prolific gold mineralization with Newmont's Éléonore Mine to the north and Sirios' Cheechoo Deposit to the east (Figure 1 inset). Two distinct styles of mineralization have been identified to date: structurally controlled quartz veins hosted within sedimentary rocks similar to the high-grade mineralization observed at the Éléonore Mine (Table 1); and intrusion-related disseminated gold mineralization similar to that seen at the low-grade bulk tonnage Cheechoo Deposit with higher grade potential as seen at the JT and Moni prospects on the project.
A total of 2,106 biogeochemical samples were collected at 50 m intervals along 100 m spaced north-south oriented survey lines covering an area of 4.2 x 1.9 km. The survey was designed to infill on anomalies identified in an orientation level survey announced earlier this year as well as to test the core of the interpreted fold. The geophysical magnetic data paired with Fury's updated geological model show the six target areas lie within the core of an east plunging regional scale fold nose. The target gold anomalies highlight discrete secondary fold structures identifiable at the edges of magnetic highs (Figure 1). Pristine gold grains, from historical work in the area, were identified down ice from the targets. These gold grains were interpreted to be near to source with minimal transport likely ruling out currently known bedrock gold source in the project area adding further weight to the prospectivity of the biogeochemical gold targets (Figure 1).
Table 1: Regional styles of gold mineralization
Category | Éléonore Style |
Mineralization | Quartz-diopside-tourmaline-sulphide veins and stockwork. Silica-carbonate-diopside-actinolite-phlogopite alteration. |
Geometry | 5-6 m, up to 20 m wide |
Geology | Massive to thinly bedded wacke, pelite, conglomerate. Pegmatites. |
Structure | Folded stratigraphy, strong strain zones |
Geochem | Au-As |
Geophysics | Chargeability highs associated with mineralization |
Analogues | Éléonore (32.6Mt @ 7.8g/t Au) |
"We have identified six robust drill-ready targets through the combination of geology, geophysics, recent geochemistry as well as combing through historical geochemical survey data. Pairing our targeting matrix with our team's past experience working at the Éléonore Mine has given us a high confidence level as we have moved this target from conceptual through the pipeline to being drill ready," commented Bryan Atkinson, P.Geol., SVP Exploration of Fury.
Biogeochemical Sampling
Biogeochemical samples were taken by collecting approximately 200 grams of black spruce twigs and sent to ALS Lab in Vancouver, BC (ISO/IEC 17025:2017 and ISO 9001:2015 accredited facility) for preparation and analysis. Preparation included drying, separation of needles from twigs and ashing of needles only at 475°C for 24 hours (VEG-ASH01). Ashed samples are analyzed for 65 elements using nitric/hydrochloric acid digestion with ICP-MS finish (ME-VEG41a). QA/QC programs using lab duplicates, standards, and blanks indicate good accuracy.
*The Company notes that in the March 5, 2024 biogeochemical news release Figure 1, gold values were inadvertently displayed as mixed ppb and ppt. They have been corrected above.
Valérie Doyon, P.Geo, Senior Project Geologist at Fury, is a "qualified person" within the meaning of Canadian mineral projects disclosure standards instrument 43-101 and has reviewed and approved the technical disclosures in this press release.
About Fury Gold Mines Limited
Fury Gold Mines Limited is a well-financed Canadian-focused exploration company positioned in two prolific mining regions across Canada and holds a 51 million common share position in Dolly Varden Silver Corp (
For further information on Fury Gold Mines Limited, please contact:
Margaux Villalpando, Manager Investor Relations
Tel: (844) 601-0841
Email: info@furygoldmines.com
Website: www.furygoldmines.com
Forward-Looking Statements and Additional Cautionary Language
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of applicable securities laws, which statements relate to the future exploration operations of the Company and may include other statements that are not historical facts. Forward-looking statements contained in this release primarily relate to statements that suggest that the future work at Éléonore South will potentially increase or upgrade the gold resources.
Although the Company believes that the assumptions and expectations reflected in those forward-looking statements were reasonable at the time such statements were made, there can be no certainty that such assumptions and expectations will prove to be materially correct. Mineral exploration is a high-risk enterprise.
Readers should refer to the risks discussed in the Company's Annual Information Form and MD&A for the year ended December 31, 2023 and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedarplus.ca and the Company's Annual Report available at www.sec.gov. Readers should not place heavy reliance on forward-looking information, which is inherently uncertain.
SOURCE: Fury Gold Mines Limited
View the original press release on accesswire.com
FAQ
When will Fury Gold Mines (FURY) start drilling at Éléonore South?
How many drill targets has Fury Gold Mines (FURY) identified at Éléonore South?
What is the significance of the geochemical survey conducted by Fury (FURY) at Éléonore South?
