Fury Gold Mines Ltd 6-K, filed May 18, 2021
Fury Gold Mines Ltd (FURY)
6-K
2021-05-18
For: 2021-05-18
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Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on May 18, 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 May
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
Fury
Drills High-Grade Gold Extending Snake Lake Structure 840 Metres
and Identifies New Mineralized
Horizon
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: May 18, 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 Drills High-Grade Gold Extending Snake Lake
Structure
840 Metres and Identifies New Mineralized Horizon
Toronto, Canada – May 18, 2021 – Fury Gold Mines Limited (TSX: FURY, NYSE
American: FURY) (“Fury” or the
“Company”) is pleased to announce the results
from four out of five drill holes into the Snake Lake structure one
kilometre (km) east of the known resource at the Eau Claire deposit
located in the Eeyou Istchee Territory in the James Bay region of
Quebec. Drill hole 21EC-018 intersected 94.1 g/t gold (Au) over 0.5m, extending high-grade
mineralization 840 metres (m) down dip and drill hole 21SL-001
intersected 7.51 g/t gold
over 2m, representing a 150m step-out from
historical high-grade drill holes (Figure 1).
In
addition, a new mineralized horizon between the Eau Claire and
Snake Lake structures was identified in the volcanic package where
intervals of 19.6 g/t gold
over 0.5m and
2.85 g/t gold over 5m
(21SL-001) were intersected. These intercepts are located in an
area where quartz-feldspar porphyry dykes are associated with
abundant quartz-tourmaline veining (Figure 2). This geological
setting and style of mineralization is similar to the Eau Claire
deposit. Results from the four exploration holes are listed below
(Table 1).
“We
are very pleased with these drill results, as they clearly indicate
high-grade mineralization and the potential scale of the Snake Lake
structure. The identification of a third horizon of mineralization
significantly enhances this area’s ounce profile,”
commented Mike Timmins, President and CEO of Fury. “We
believe we are still in the early stages of revealing significant
discovery opportunities at Eau Claire, our high hit rate and the
presence of visible gold in the Snake Lake holes and in the current
western extension drilling demonstrate the robustness of the
project and prospectivity of the targets on
trend.”
Table
1: Snake Lake Area Drill Results1
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Hole ID
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From
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To
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Length (m)
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Au g/t
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21EC-0102
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1069.5
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1071.0
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1.5
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6.43
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21EC-016
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No Significant Intersections
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21EC-018
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927.0
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927.5
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0.5
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94.10
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21SL-001
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212.0
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213.0
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1.0
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3.78
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21SL-001
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220.0
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220.5
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0.5
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19.60
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21SL-001
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225.0
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230.0
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5.0
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2.85
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incl
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227.0
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228.0
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1.0
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8.51
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21SL-001
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371.5
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373.5
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2.0
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7.51
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incl
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372.0
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372.5
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0.5
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23.90
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21SL-002
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413.0
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416.0
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3.0
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1.00
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21SL-002
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423.0
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423.5
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0.5
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4.04
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Lengths are drill indicated core length, as insufficient drilling
has been
undertaken to determine true widths at this time. Main intervals -
Au
grade*thickness no less than 2 g/t*m with grade is no less than 1
g/t,
maximum consecutive dilution 2m
1. These results include two Panel C holes (21EC-016 and
21EC-018).
2.
Previously released; refer to news release dated March 30,
2021. |
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Three
of the four reported drill holes and a pending drill hole from the
Snake Lake structure have observed coarse grained visible gold
associated with veining and alteration (Figures 3 and 4). In
addition, recent resource expansion drilling at the Eau Claire
deposit has intersected visible gold. Given the consistent presence
of visible gold in core drilled this year, Fury has made the
decision to switch to a larger diameter (HQ) drill core that will
result in a 25% larger sample size. As well as switching to HQ
drill core, the Company is directing the assay laboratories to
adjust sample preparation to better account for the variability of
coarse-grained gold analysis.
Snake Lake Exploration Drilling - Geology
The
reported intercepts, located along the volcanic-sediment contact
that characterizes the Snake Lake structure, of 94.10 g/t gold over
0.5m (21EC-018) and 6.43 g/t gold over 1.5m of (21EC-010)
(previously reported – see news release dated March, 30,
2021), have increased the potential area of mineralization along
the Snake Lake structure by 840m and 1,100m, respectively (Figure
1). Fury’s technical team is encouraged at the scale across
which high-grade mineralization has been observed and believes the
Snake Lake structure has the potential to deliver a potential
discovery within 2km of Eau Claire.
The
newly identified zone of mineralization is located 100m to 150m
south of the Snake Lake structure and is hosted within mafic
volcanic rocks with associated quartz-feldspar porphyry dykes and
abundant quartz tourmaline veining over a 20m width, demonstrating
a strong fluid pathway that has not been previously recognized.
Fury’s technical team believes the identification of a third
mineralized structure along the deposit trend at this early stage
of the program suggests a high probability of discovering
significant new zones of mineralization throughout the immediate
project area.
“We
are very impressed with our wide spaced first pass drill program
along the Snake Lake structural corridor. The fact that we were
able to expand the high-grade mineralized footprint with 1,100m and
840m step-outs clearly speaks to the mineral endowment of this
area. The strength of the fluid pathways, in terms of alteration
and vein intensity, and the consistently observed visible gold
confirms our belief that significant ounces can be added to the
project through continued exploration,” stated Michael
Henrichsen, SVP Exploration of Fury.
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www.furygoldmines.com
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Figure 1: Illustrates the long section of the Snake Lake structure
showing gold intersections located 1km east of the Eau Claire
deposit.
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www.furygoldmines.com
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Figure 2: Illustrates a
cross section of the Snake Lake structural corridor where new
high-grade mineralization has been
identified 840 metres down
dip from historical drilling. Image also shows a new zone of
mineralization, which has been
identified 150 metres to
south in the hanging wall of the Snake Lake
structure.
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www.furygoldmines.com
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Figure 3: Illustrates coarse visible gold intersected within a zone
of quartz tourmaline veining in resource expansion drill hole
20EC-005, which intersected 11.56g/t gold over 6
metres.
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www.furygoldmines.com
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Figure 4: Illustrates vein densities and
observed visible gold within quartz-tourmaline veining in the Snake
Lake drill holes that represent 150- to 300-metre step-outs from
historical high-grade drilling.
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www.furygoldmines.com
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Eau Claire Technical Disclosure
Analytical
samples from the 2020 and 2021 program were taken by sawing NQ
diameter core into equal halves on site with one half being sent to
Actlabs in Val d’Or, QC for preparation and then to Actlabs
in Thunder Bay, ON for analysis. All samples are assayed using 50 g
nominal weight fire assay with atomic absorption finish (1A2B-50)
and multi-element four acid digest ICP-AES/ICP-MS method (1F2).
Where 1A2B-50 results were greater than 5 ppm Au the assay were
repeated with 50 g nominal weight fire assay with gravimetric
finish (1A3-50). QA/QC programs using internal standard samples,
field and lab duplicates and blanks indicate good overall accuracy
and precision.
Historical
drill samples at Snake Lake were taken by sawing NQ diameter core
into equal halves on site with one half being sent to ALS Chemex in
Val D’or, QC for preparation and analysis. All samples were
assayed using a 50 g nominal weight fire assay with atomic
absorption finish (Au-AA24) and multi-element four acid digest
ICP-AES/ICP-MS method (ME-MS61). Where Au-AA24 results were greater
than 5 ppm Au the assay was repeated with 50 g nominal weight fire
assay with gravimetric finish (Au-GRA22). QA/QC programs using
internal standard samples, field and lab duplicates and blanks
indicate good overall accuracy and precision.
David Rivard, P.Geo, Exploration Manager at Fury, is a "qualified
person" within the meaning of National 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 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,
visit www.furygoldmines.com.
For further information on Fury Gold Mines Limited, please
contact:
Salisha
Ilyas, Vice President, 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 information" or “forward-looking
statements” within the meaning of applicable Canada and
United States securities laws (“forward-looking statements”),
which 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 statements are statements that include implied
future performance and/or forecast information. Forward-looking
statements in this release reflect management's current estimates,
predictions, expectations or beliefs regarding future events.
Specific forward-looking statements contained in this release
include information relating to: Fury's exploration drill programs
at its Eau Claire deposit, including with respect to the new zone
of mineralization between the Eau Claire and Snake Lake structures
and the potential for a new deposit; and the future growth and
development of Fury’s mineral properties.
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www.furygoldmines.com
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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 statements
reflect 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 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
statements involve 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, 2020
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, 2020 filed with the United States Securities and Exchange
Commission and available at www.sec.gov. Readers should not place
undue reliance on forward-looking statements, which speak only as
of the date made. The forward-looking 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 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
Definition Standards on Mineral Resources and Mineral Reserves. 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
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