Fury Gold Mines Ltd 6-K, filed Feb 17, 2021
Fury Gold Mines Ltd (FURY)
6-K
2021-02-17
For: 2021-02-16
View Original
Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on February 17, 2021.
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February
2021
Commission
File No. 001-38145
Fury Gold Mines Limited
(Translation
of registrant’s name into English)
34 King Street East Suite 900, Toronto, M5C 2X8
Canada
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F
Form
20-F [ ] Form
40-F [X]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1) [
]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7) [
]
SUBMITTED HEREWITH
Exhibits
99.1 Fury Announces
2021 Exploration Plans for Committee Bay
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
|
|
Fury Gold Mines Limited
|
|
|
|
|
|
|
|
|
Date: February 17, 2021
|
By:
|
/s/ Lynsey
Sherry
|
|
|
|
|
Lynsey Sherry
|
|
|
|
|
Chief Financial Officer
|
|
Exhibit 99.1
Fury Announces 2021 Exploration Plans for Committee
Bay
Toronto, Canada – February 17, 2021 –
Fury Gold Mines Limited (TSX: FURY,
NYSE American: FURY) (“Fury” or the
“Company”) is pleased to outline its 2021
exploration plans for the Committee Bay gold project located in the
Kitikmeot region of Nunavut. The Company plans to drill between
5,000 metres (m) and 10,000m this summer, subject to COVID
limitations, with the goal of: 1) drilling the underexplored Raven
high-grade vein target, which sits along an 8 kilometre (km) shear
zone that has the potential to turn into a significant discovery;
2) expanding the Three Bluffs deposit through the drilling of a
major conductor down dip from a high-grade portion of the resource;
and 3) advancing the previous geological work on targets along the
Aiviq – Kalulik corridor to advance them to drill
stage.
“Shareholders
are uniquely positioned in Nunavut with the Committee Bay project,
which is considered to be one of the largest unexplored greenstone
belts remaining in North America. We will be initiating
Fury’s first drill program at the project with a robust
initial resource, several mature high grade exploration targets and
an experienced team with the skill sets to deliver on our growth
plans,” commented Mike Timmins, President and CEO of
Fury.
Raven Prospect Overview
The
Raven prospect is located in the southwest third of the Committee
Bay Gold Belt, approximately 80km west of the Three Bluffs deposit
(Figure 1). The prospect is situated along an 8km long shear zone
where defined gold mineralization occurs in quartz-arsenopyrite
veins in highly sheared gabbros and mafic volcanic rocks over a
strike length of approximately 1.2km (Figures 2 and 3). There have
been 207 rock samples historically taken over the defined area of
mineralization, with 30 samples returning values greater than 5 g/t
gold with a peak value of 143 g/t gold. Importantly, only 1.2km of
the 8km shear zone has been systematically explored to
date.
The
prospect has a total of nine historical drill holes totaling 1,670m
with intercepts including 5.49m of 12.6 g/t gold, 2.84m of 31.1 g/t
gold and 5.38m of 2.99 g/t gold over a drilled strike length of
400m. Historical drilling at the prospect has defined a high-grade
body of mineralization approximately 250m in length, with a
30-degree plunge to the east that is open along strike and down dip
(Figure 4). Fury plans to drill the Raven prospect through
aggressive step outs to demonstrate the scale of the system and to
explore the entire length of the 8km shear zone to define new
targets through systematic till sampling and geological
mapping.
“Our
technical team views the high-grade veins at the Raven prospect as
the highest probability for a major discovery on the belt this year
as the historical drilling positions us for the ability to rapidly
expand the body through aggressive step outs. In addition, we will
continue to advance our high-priority geophysical targets through
the critical step of mapping to define geometry as we advance these
targets to drill stage,” commented Michael Henrichsen, SVP,
Exploration of Fury.
Figure
1: Illustrates select targets across the 300km Committee Bay Gold
Belt. Fury plans to drill the Raven prospect and expand the Three
Bluffs deposit in the 2021 summer drill campaign.
Three Bluffs Deposit Expansion Drilling
The
Three Bluffs deposit contains a high-grade resource defined by
525,000 oz. at 7.85 g/t gold in the indicated category and 720,000
oz. at 7.64 g/t gold in the inferred1 category. The deposit is characterized
by gold mineralization hosted within a folded, silicified and
sulphidized banded iron formation. The anticline that defines the
deposit has a strike length of approximately 4km and has been
drilled from 150m to 650m vertical depth and is open down dip
(Figure 4). High-grade mineralization at the deposit is associated
with high conductivity responses due to the intense sulphidation of
the banded iron formation as evidenced in the hinge zone of the
anticline (Figure 5).
Fury’s
primary target at the Three Bluffs deposit is a conductive body
that measures 600m by 200m at a vertical depth of between 300m and
500m (Figure 5). The target is down dip from high grade
mineralization within the limbs of the anticline and is offsetting
the following intersections: 5m of 40.6 g/t gold, 5.3m of 29.03 g/t
gold, 11m of 16.23 g/t gold, 5m of 15.2 g/t gold, 2m of 21.81 g/t
gold and 2m of 19.38 g/t gold. The Company plans to drill across
the entire conductivity body to demonstrate the potential for
resource growth at the deposit.
Figure
2: Illustrates the 1.2km mineralized footprint at the Raven
prospect within the larger 8km Raven shear zone.
Figure
3: Illustrates the mineralized segment of the Raven shear zone in
geologic and magnetic cross sections.
Figure
4: Illustrates a long section view of the high-grade drilling at
Raven with an interpreted 30-degree plunge.
Figure
5: Illustrates the 600m by 200m conductor that Fury plans to drill
test during the summer of 2021 with the aim of expanding the
resource at the Three Bluffs deposit.
Michael Henrichsen, P.Geo, SVP, Exploration at Fury, is the
“qualified person” within the meaning of National
Instrument 43-101 – Standards for
Disclosure of Mineral Projects and has reviewed technical disclosures
in this press release.
Committee Bay Drilling QA/QC Disclosure
RAB Drilling
Analytical
samples were taken using 1/8 of each 5ft (1.52m) interval material
(chips) and sent to ALS Lab in Yellowknife, NWT, Thunder Bay, ON,
and Vancouver, BC for preparation and then to ALS Lab in Vancouver,
BC for analysis. All samples are assayed using 30g nominal weight
fire assay with atomic absorption finish (Au-AA25) in 2017 and part
of 2018 or 50g nominal weight fire assay with atomic absorption
finish (Au-AA26) in 2015, 2016, part of 2018, and 2019 and
multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61).
QA/QC programs using internal standard samples, field and lab
duplicates and blanks indicate good accuracy and precision in a
large majority of standards assayed.
Core (Diamond) Drilling
Analytical
samples were taken by sawing NQ diameter core into equal halves on
site and sent one of the halves to ALS Lab in Vancouver, BC for
preparation and analysis. All samples are assayed using 50g nominal
weight fire assay with gravimetrical finish (Au-GRA22) in year 2016
and with atomic absorption finish (Au-AA26) in 2018 and
multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61).
QA/QC programs using internal standard samples, field and lab
duplicates and blanks indicate good accuracy and precision in a
large majority of standards assayed.
Based
on the estimated geometry of the mineralized zones, the true widths
of the intervals drilled at the Three Bluff deposit are believed to
be at approximately 40-75% of the drilled widths. True widths of
mineralization outside of the Three Bluff deposit are unknown based
on current geometric understanding of the mineralized
intervals.
CB Grabs
Approximately
1-2kg of material was collected for analysis and sent to ALS Lab in
Vancouver, BC for preparation and analysis. All samples are assayed
using 50g nominal weight fire assay with atomic absorption finish
(Au-AA26) and multi-element four acid digest ICP-AES/ICP-MS method
(ME-MS61). QA/QC programs for rock grab samples using internal
standard samples, lab duplicates, standards and blanks indicate
good accuracy and precision in a large majority of standards
assayed. Grab samples are selective in nature and cannot be
consider as representative of the underlying
mineralization.
2017 pXRF Tills
Samples
(~250g) of unweathered till were collected from 20-30cm depth in
frost boils at 100m sample spacing. Pebbles (>1cm) were removed
in the field. Samples were not collected in areas of glaciofluvial
or fluvial reworking. Collected samples were returned to camp to be
analyzed in the field. Samples were air-dried, then 50g of sediment
was spread over a clean creased paper. Samples were gently shaken
to separate and discard coarse sand/pebbles, leaving a fine
sand/silt. ~10-20g of this material was transferred to a
2”x3” plastic zip bag, labelled, and analyzed with a
benchtop mounted pXRF in Soil Mode for 90 seconds. QA/QC included
regular standard samples and field duplicates.
About Fury Gold Mines Limited
Fury
Gold Mines Limited is a Canadian-focused exploration and
development company positioned in three prolific mining regions
across the country. Led by a management team and board of directors
with proven success in financing and developing mining assets, Fury
will aggressively grow and advance its multi-million-ounce gold
platform through project development and potential new discoveries.
Fury is committed to upholding the highest industry standards for
corporate governance, environmental stewardship, community
engagement and sustainable mining. For more information on Fury
Gold Mines, visit www.furygoldmines.com.
For further information on Fury Gold Mines Limited, please
contact:
Salisha
Ilyas, Vice President, Investor Relations
Tel:
(778) 729-0600
Email:
info@furygoldmines.com
Website:
www.furygoldmines.com
Forward-Looking Information and Additional Cautionary
Language
This
release includes certain statements that may be deemed contains
"forward-looking information" or "forward-looking statements"
within the meaning of applicable securities laws and relate to the
future operations of the Company and other statements that are not
historical facts. Generally, these forward-looking statements can
be identified by the use of forward-looking terminology such as
"plans", "expects", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes", or the
negatives and/or variations of such words and phrases, or state
that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur", "be achieved" or "has the
potential to". Forward-looking information is information that
includes implied future performance and/or forecast information.
Forward-looking information and statements in this release reflects
management's current estimates, predictions, expectations or
beliefs regarding future events. Specific forward-looking
information contained in this release, includes information
relating to: Fury's exploration programs at its Committee Bay
property, Fury's growth plans and the future growth and development
of Fury's mineral properties.
There
can be no assurance that such statements will prove to be accurate,
and actual results and future events could differ materially from
those anticipated in such statements. Forward-looking information
reflects the beliefs, opinions and projections on the date such
statements are made and are based on a number of assumptions and
estimates that, while considered reasonable at the time, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Such
assumptions, which may prove to be incorrect, include: general
economic and industry growth rates; the Company's budget, including
expected costs and the assumptions regarding market conditions; the
Company's ability to raise additional capital to proceed with its
exploration, development and operations plans; the Company's
ability to obtain or renew the licenses and permits necessary for
its current and future operations; and the Company's assumptions
around the impact of the COVID-19 pandemic. 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 assurance that such
assumptions and expectations will prove to be correct.
Forward-looking
information involves known and unknown risks, uncertainties and
other factors which may cause actual results, performance or
achievements of the Company to be materially different (either
positively or negatively) from any future results, performance or
achievements expressed or implied by such forward-looking
statements, including risks relating, but not limited, to: the
COVID-19 pandemic; the future price of minerals, including gold and
other metals; and the success of the Company's exploration and
development activities. Readers should refer to the risks discussed
in the Company's Annual Information Form and MD&A for the year
ended December 31, 2019 and subsequent continuous disclosure
filings with the Canadian Securities Administrators available at
www.sedar.com and the Company's Annual Report on Form 40-F for the
year ended December 31, 2019 filed with the United States
Securities and Exchange Commission and available at www.sec.gov.
Readers should not place undue reliance on forward-looking
information, which speaks only as of the date made. The
forward-looking information contained in this news release is
expressly qualified by this cautionary statement. The
forward-looking information and statements contained in this press
release represent the Company's expectations as of the date of this
press release or the date indicated. The Company disclaims any
intention or obligation or undertaking to update or revise any
forward-looking information or statements whether as a result of
new information, future events or otherwise, except as required
under applicable securities law.
Cautionary Note to United States Investors Concerning Estimates of
Mining Disclosure
The
mining and technical disclosure throughout this release is made in
accordance with applicable Canadian law and the guidelines set out
in the Canadian Institute of Mining, Metallurgy and Petroleum
("CIM") CIM Definition Standards on Mineral Resources and Mineral
Reserves ("CIM Standards"). The Company's descriptions of its
projects using applicable Canadian law and CIM Standards may not be
comparable to similar information made public by U.S. companies
subject to the reporting and disclosure requirements under the
United States federal securities laws and the rules and regulations
thereunder.
- End
-
|
|
www.furygoldmines.com
|