Fury Gold Mines Ltd 6-K, filed Jan 13, 2021
Fury Gold Mines Ltd (FURY)
6-K
2021-01-13
For: 2021-01-13
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Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on January 13, 2021.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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 January 2021
Commission File No.
001-38145
Fury Gold Mines
Limited
(Translation of registrant's name into English)
(Translation of registrant's name into English)
34
King Street East Suite 601, Toronto, M5C 2X8
Canada
(Address of principal executive office)
(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 Press
Release
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.
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Fury Gold Mines
Limited
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Date: January 13,
2021
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By:
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/s/ Lynsey
Sherry
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Lynsey
Sherry
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Chief Financial
Officer
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Exhibit 99.1
Fury Provides Update on Eau Claire Drill Program and
Outlines Exploration Plans for 2021
Toronto,
Canada – January 13, 2021 – Fury Gold Mines Limited
(TSX: FURY, NYSE American: FURY) (“Fury” or the
“Company”) is pleased to provide an update on the
ongoing 50,000-metre (m) drill program at the 100% owned Eau Claire
project located in the Eeyou Istchee Territory in the James Bay
region, Quebec. The drill program is focused on the one-kilometre
(km) down plunge extension at Eau Claire (Targets A, B and C)
(Figure 1), as well as infill drilling the inferred portions of the
resource for resource conversion. A total of 3,646m in six holes
has been drilled to date and results from the first set of infill
drill holes and the first 600m of the step-out hole, 20EC-006, are
expected in the coming weeks.
“2020
was an eventful year for the Company as we launched and immediately
began to redefine the Eau Claire project and reveal further
potential in the James Bay Gold Camp,” commented Mike
Timmins, President and CEO of Fury. “With drills turning and
our first set of assays pending, we are anticipating a very active
and exciting year as we continue drilling to add ounces and
discover new areas of high-grade mineralization both at depth and
at surface along the deposit trend.
“We
will continue to apply our systematic exploration approach as we
advance our entire project portfolio in 2021 and position our
shareholders to also benefit from the large-scale exploration
programs planned later in the year at Homestake Ridge and Committee
Bay.”
2021 Exploration Highlights
●
Eau Claire, Quebec:
expansion program of 50,000m+ well underway;
●
Homestake Ridge,
British Columbia: approximately 20,000m planned for summer 2021 in
conversion and exploration drilling;
●
Committee Bay,
Nunavut: a minimum of 10,000m planned to expand the Three Bluffs
deposit and drill test several exciting new targets for summer of
2021; and
●
Éléonore
South JV (“ESJV”), Quebec: proposed surface exploration
campaign followed by drill testing between 3,000m and 5,000m at two
undrilled target areas in Q4 2021.
“Fury
has come together in a compressed time period during COVID and has
been able to execute on all fronts, which is a testament to the
quality of the management and technical teams,” stated Ivan
Bebek, Chair of Fury. “The Company has a unique opportunity
to grow high-grade gold deposits and make world class discoveries.
Shareholders can look forward to constant drill results and being
well positioned for growth as we enter a robust bull market in
gold.”
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www.furygoldmines.com
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Quebec Exploration Focused on Rescaling Eau Claire and Advancing
the ESJV
The
50,000m+ drill program at Eau Claire aims to significantly expand
the current resource base and realize the potential of the Eau
Claire deposit. The infill program is focused on upgrading the
easternmost area of the resource at depth, while the exploration
drill program will focus on testing a 1km down plunge extension of
the Eau Claire deposit as well as drilling untested targets within
the 7km deposit trend with the aim of identifying new discoveries
(Figure 1).
Figure
1: Illustrates newly defined structural intersections to the north
of the Snake Lake mineralized structure as well the convergence of
the Eau Claire and south tonalite structures. Together these
structural intersections provide Fury with two new target
zones.
At the
ESJV, the Company is proposing a summer exploration program that
will concentrate on advancing large scale gold-in-till anomalies to
drill stage (Figure 2). Proposed exploration for the ESJV includes
reprocessing and interpreting the existing airborne magnetic and
electro-magnetic datasets to advance the structural and geologic
framework, geochemical till surveying across the southern third of
the property to complete property wide coverage and acquiring
additional IP data over defined geochemical anomalies. A drill
program will be proposed for Q4 2021 based upon the results of the
summer exploration program.
Figure
2: Illustrates the two large-scale geochemical anomalies that
represent the two target areas that Fury plans to advance to drill
stage in 2021 and the location of the expanded geochemical survey
in the southern third of the property.
Uniquely Positioned in Nunavut – One of Canada’s
Premier Mine Development Regions
Recent
consolidation activity in the sector continues to demonstrate that
Nunavut is a world-class mining and exploration jurisdiction and
one of the few remaining areas in the world where exploration
continues to discover and grow large, high-grade gold deposits. In
2020, the technical team refined the targeting for Committee Bay,
outlining targets to expand the Three Bluffs resource in addition
to several mature regional targets, each with the potential to be a
new major discovery.
Figure
3: Illustrates the location of the Three Bluffs gold deposit and
potential drill targets across the Committee Bay gold
belt.
Further Development on the Homestake Trend
Homestake
Ridge is a high-grade gold and silver resource located in the
southern end of the Golden Triangle region in British Columbia,
with excellent infrastructure and access to the property. Fury is
planning a 20,000m drill program in the summer of 2021, focusing
on: extending the known mineralization at both the Homestake Main
and Homestake Silver zones; completing an infill drill program at
Homestake Silver; and testing high priority geophysical and
geochemical targets. In addition, surface exploration will be
completed at several regional targets to advance to drill
stage.
Figure
4: Highlights the south area of the Golden Triangle region in
British Columbia where Fury’s development-stage Homestake
Ridge project is situated.
Fury Well-Positioned for Growth
The
Company’s fundamentals, which continue to strengthen as the
portfolio is advanced, include:
■
A growing
multi-million ounce high-grade gold resource base positioned across
three assets;
■
Plans to drill
80,000m over the next 18 months;
■
Aggressive
exploration along the Eau Claire deposit trend and broader asset
package to potentially support a long-term 150koz-200koz per year
mining scenario in Quebec;
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Renewed exploration
on the Éléonore South Joint Venture to demonstrate the
potential of the James Bay Gold Camp;
■
Aggressive
exploration at the Homestake Ridge project to expand the resource
and convert approximately 15% of the Homestake Silver resource from
inferred to indicated category;
■
A discovery focused
drill program within the 300km long Committee Bay Gold Belt to
advance toward the goal of a 5Moz+ resource base at Committee Bay;
and
■
A strong treasury
to support 2021 activities.
These
fundamentals along with the Company’s aggressive growth
strategies will support Fury’s vision to create a premier
gold development company with the aim of pouring gold by
2025.
David
Rivard, P.Geo, Exploration Manager at Fury, is the Qualified Person
who assumes responsibility for the technical disclosures in this
press release.
About Fury
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” within the meaning of
applicable securities laws. “forward-looking
statements”. Forward- looking information is information that
includes implied future performance and/or forecast information.
Forward-looking statements information 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 growth plans and future results and the
timing and results of the drill program at Fury’s Eau Claire
and other 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
registration statement on Form 40-F 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 speak only as of the date made. 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.
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