Fury Gold Mines Ltd 6-K, filed Aug 4, 2021
Fury Gold Mines Ltd (FURY)
6-K
2021-08-04
For: 2021-08-04
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April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on August 4, 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 August
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
Exhibit
99.1 Press Release dated
August 4, 2021
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: August 4, 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 at the Eau Claire Hinge Target;
Exploration Drilling Resumes at Snake Lake
Toronto, Canada – August 4, 2021 – Fury Gold Mines Limited (TSX: FURY, NYSE
American: FURY) (“Fury” or the
“Company”) is pleased to provide results for
eight core drill holes at the Eau Claire project located in the
Eeyou Istchee Territory in the James Bay region of Quebec,
including results from the Company’s deposit drilling and
initial results from the western extension targets. Three of the
drill holes focused on the previously untested Hinge target at the
western limit of the Eau Claire deposit. Significant intercepts
included 1.0 metre (m) of 12.81 g/t
gold and 8.0m of 1.18 g/t gold, demonstrating that the Hinge
target has both high-grade veins and broader zones of
mineralization. All three holes encountered stacked zones of quartz
tourmaline veining and associated amphibole-biotite alteration in
the same iron rich basalt that hosts the current Eau Claire
resource (Figure 1).
“We
strongly believe that Eau Claire has the potential to expand
considerably at the Hinge and Limb target areas, and through
drilling along the Snake Lake structure. We are also very excited
about our ongoing drill program at the 8km Raven shear zone at
Committee Bay, with results expected in September,” commented
Mike Timmins, President and CEO of Fury. “With four drill
rigs turning in Quebec and Nunavut, we are looking forward to a
robust second half of the year, with a lot more ounces to be
discovered through exploration.”
Exploration Program Update
The
first phase of the Eau Claire exploration program was primarily
focused on deposit drilling and testing areas of potential resource
expansion east and west of the deposit. This first phase of
drilling is now complete, whereupon as planned, we are continuing
drilling focused on areas with the highest growth potential. Fury
is currently drilling to explore and expand upon the Snake Lake
mineralized system, where the Company has been successful at
delineating high-grade mineralization on step outs of up to 850m
where 0.5m of 94.1 g/t gold was intersected (see Fury’s news
release dated May 18, 2021). The second drill is currently testing
the western Limb extension target where the Company is drilling
veining and alteration consistent with that found within the Eau
Claire resource. There is also the potential to add a third drill
rig later in the year to focus on the expansion of mineralization
at Percival and to test additional regional targets that are
currently being groomed for winter drilling.
Resource Expansion Drilling
Fury is
also pleased to report results from two resource expansion drill
holes on the western Limb target, where eight stacked zones of
mineralization were intersected in hole 21EC-026 and four stacked
zones were encountered in hole 21EC-028 (Figure 2). Drill results
from both holes meet the minimum mining width of 2m above the
resource cut-off grade of 2.5 g/t gold1. Results from the
western Limb resource expansion holes are presented below (Table
1). Mineralization in both drill holes is characterized by
quartz-tourmaline veins and associated amphibole-biotite alteration
that is spatially associated with quartz-feldspar porphyry dykes
over a 150m width. Fury is highly encouraged by the presence of
multiple stacked zones of mineralization and the potential to
expand the resource in this area. The Company is currently drilling
250m step-out holes from the known resource based on strong
geologic vectors encountered in drill holes 21EC-026 and 21EC-028
(Figure 2).
www.furygoldmines.com
In
addition, two resource expansion holes targeting the high-grade
eastern area of the deposit and outside of the current resource
blocks, have intersected 1.29m of
14.27 g/t gold from drill hole 21EC-030 and 1.33m of 9.37 g/t gold from drill
hole 21EC-025 (Figure
3). The Company’s resource expansion drill program has
consistently expanded the deposit footprint to the east where the
Company is currently focused on a 250m extension of the high-grade
204,000-ounce portion of the resource at 11.81 g/t gold (2.5 g/t
cut-off grade)1.
Currently,
there are four completed holes pending assay results from the
Western Limb extension target, one hole from the Snake Lake target,
and one 150-metre step out hole testing the eastern down plunge
extension from the Eau Claire project (Figure 4). The Company
anticipates results from these holes to be released during
September and October.
“The
initial drill holes targeting the western extensions of the deposit
are highly encouraging as both the Hinge and Limb targets have
yielded multiple stacked zones of gold mineralization within zones
of quartz-tourmaline veining that clearly demonstrate an expanding
deposit footprint. Fury’s technical team believes that
further drilling on the Hinge and Limb targets is fully warranted
to target the system where grade and width coalesce,” stated
Michael Henrichsen, SVP, Exploration of Fury.
www.furygoldmines.com
Table
1: Eau Claire Drill Results
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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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True Thickness
(m)
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Au
(g/t)
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Eastern
Resource Expansion1
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21EC-025
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165.5
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167
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1.5
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1.15
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1.95
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362.5
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364
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1.5
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1.33
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9.37
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21EC-030
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379.5
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381
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1.5
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1.29
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14.27
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21EC-027
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No
Significant Intersections
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21EC-034
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Results Pending
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Western
Limb Resource Expansion2
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21EC-026
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637.5
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640.5
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3
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2.98
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2.45
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655.5
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657
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1.5
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1.49
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2.54
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663
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668
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5
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4.96
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2.71
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698.5
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700
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1.5
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1.49
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4.63
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720
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721.5
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1.5
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1.49
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7.30
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747.5
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751
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3.5
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3.49
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3.21
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776.5
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777.5
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1.0
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1.00
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9.60
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995
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996
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1.0
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0.99
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4.70
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21EC-028
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379
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380
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1.0
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0.99
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3.31
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533
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533.5
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0.5
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0.5
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4.95
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572.5
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573.5
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1.0
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0.99
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3.54
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586
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591
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5.0
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4.97
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2.6
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637
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638.5
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1.5
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1.49
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7.77
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21EC-036
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Results Pending
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21EC-037
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Results Pending
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21EC-038
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Results Pending
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21EC-039
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Results Pending
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Hinge
Exploration
Target3
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21EC-031
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210
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211
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1.00
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NA
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3.47
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392
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393.5
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1.50
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NA
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2.77
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466
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467
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1.00
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NA
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2.38
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474
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482
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8.00
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NA
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1.18
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21EC-032
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9.5
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11
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1.50
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NA
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8.50
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18
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21
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3.00
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NA
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3.07
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25.5
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27
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1.50
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NA
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1.82
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474
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474.5
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0.50
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NA
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4.55
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608.5
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609.5
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1.00
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NA
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12.81
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21EC-035
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541.5
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543
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1.50
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NA
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1.57
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582
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583
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1.00
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NA
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2.02
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618
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619.5
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1.50
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NA
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1.56
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Snake
Lake Target
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21SL-003
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Results Pending
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Main intervals - Au grade*thickness no less than 2g/t*m with grade
is no less than 1g/t, maximum consecutive dilution
2m; Sub-intervals
- Au grade*thickness no less than 7g/t*m with grade is no less than
3.5g/t, maximum consecutive dilution 2m
1. True thickness
calculation based on dip of 55° and dip azimuth of
191.5°
2. True
thickness calculation based on dip of 43° and dip azimuth of
180°
3. Lengths are drill
indicated core length, as insufficient drilling has been undertaken
to determine true widths at this time.
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www.furygoldmines.com
Figure
1: Illustrates the Hinge target initial exploration drill holes
which targeted the contact between magnesium and iron rich basalts
that is the stratigraphic position hosting the bulk of the 450 zone
resource at the Eau Claire deposit. Multiple stacked zones of
quartz-tourmaline veining and broad zones of alteration were
encountered in all three drill holes.
www.furygoldmines.com
Figure 2: Illustrates the resource expansion intercepts at the
western Limb target at the Eau Claire deposit as highlighted by the
orange dashed ovals.
www.furygoldmines.com
Figure 3: Eau Claire Deposit long section depicting the resource
block model and location of recent resource expansion drill
holes
www.furygoldmines.com
Figure 4: Illustrates the long section of the Eau Claire deposit
and Snake Lake target with drill holes highlighted with assays
pending
www.furygoldmines.com
Technical Disclosure
Analytical samples for the Resource Expansion Drill Program were
taken by sawing NQ and HQ diameter core into equal halves on site
and sent one of the halves to Bureau Veritas (BV) lab in Timmins,
ON (ISO/IEC 17025 accredited facility) for preparation and
analysis. Preparation included crashing core sample to 90% < 2mm
and pulverizing 1000g of crushed material to better than 85% <
75 microns. All samples are assayed using 50 g nominal weight fire
assay with atomic absorption finish (BV code FA450) and
multi-element four acid digest ICP-AES/ICP-MS method (BV code
MA200). Where FA450 results are greater than 5 ppm Au the assay is
repeated with 50 g nominal weight fire assay with gravimetric
finish (FA550-Au). QA/QC programs using internal and lab standard
and blank samples, field and lab duplicates and re-assay indicate
good overall accuracy and precision.
2002-2015 historical drill samples were taken by sawing NQ or HQ
diameter core into equal halves on site with one half being sent to
ALS Chemex in Sudbury, ON for preparation and analysis. All samples
were assayed using a 50 g nominal weight fire assay with
inductively coupled plasma – atomic emission spectrometry
finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS
method (ME-MS61). Where Au-ICP22 results were greater than 0.5 ppm
Au the assay was repeated with a 50 g nominal weight fire assay
with atomic absorption finish (Au-AA24). Samples containing more
than 5 ppm by Au-AA24 were re-assayed 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.
2016-2019 historical drill samples were taken by sawing NQ or HQ
diameter core into equal halves on site with one half being sent to
ALS Chemex in Sudbury, ON 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.
1 See the technical report entitled “Technical Report,
Updated Mineral Resource Estimate and Preliminary Economic
Assessment on the Eau Claire Gold Deposit, Clearwater Property,
Quebec, Canada” (the “Eau Claire Report”) dated
effective February 4, 2018, prepared by Eugene Puritch, P.Eng.,
FEC, CET, Antoine Yassa, P.Geo., Andrew Bradfield, P.Eng., Allan
Armitage, Ph.D., P.Geo., which can be found on the Company’s
profile at www.sedar.com.
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.
www.furygoldmines.com
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: (437) 500-2529
Email: info@furygoldmines.com
Website: www.furygoldmines.com
Forward-Looking Information 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 securities laws, 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 information is information that
includes implied future performance and/or forecast information.
Forward-looking 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: the Eau Claire
deposit, including with respect to any potential resources, future
drilling plans and upcoming drilling results; Fury's growth plans;
and the future and 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 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, 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 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.
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.
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