Fury Gold Mines Ltd 6-K, filed Sep 7, 2021
Fury Gold Mines Ltd (FURY)
6-K
2021-09-07
For: 2021-09-07
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Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on September 7, 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 September
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
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Press
Release
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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: September 7 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 Corporate and Exploration Update
Toronto, Canada – September 7, 2021 –
Fury Gold Mines Limited (TSX:
FURY)(NYSE American: FURY) (“Fury” or the
“Company”) is pleased to provide a corporate and
exploration update.
Corporate Highlights
●
Mr. Clark is
leading a change in strategy that focuses on exploration and
discovery across the Company’s core assets;
●
Adjust primary
exploration activities to focus on Fury’s core assets Eau
Claire and Committee Bay, while concurrently conducting a strategic
review of non-core assets;
●
Readjust capital
spend with the goal of spending at least 70% of funds on
exploration and drilling activities; and
●
Reduce corporate
cash expenditures through certain strategic initiatives, including
transitioning the Toronto office to a virtual work environment with
a head office in Vancouver and leveraging several cost sharing
benefits with sister companies.
“The
Company’s focus and re-commitment to discovery and
exploration are a reflection of the evidence and our continued
confidence that Fury Gold’s high-grade resource base will
continue to grow significantly larger. The Company is extremely
well positioned for shareholders to benefit from improved capital
allocation efficiency, pending near-term exploration results and
the potential positive move in the gold market,” commented
Tim Clark, CEO of Fury.
Exploration Highlights
Eau Claire:
●
Completed
approximately 32,000 metres (m) of drilling at Eau Claire with 28
holes released and 10 drill holes from Snake Lake and the Western
Limb Extension target areas currently pending
(Figure
1);
●
Drilling is
underway at Snake Lake where three sub-parallel high-grade gold
bearing structures are being explored, the Eau Claire structure,
the Snake Lake structure as well as a newly identified gold bearing
structure situated between the Eau Claire and Snake Lake
structures. To date, the Company has extended mineralization at
Snake Lake 840m down dip of historical drilling with an intercept
of 94.1 g/t gold over 0.5m (see Fury news release dated May 18,
2021) (Figure 2);
●
Advancing four of
nine regional targets to drill stage through
geochemical and geophysical surveys with a focus on the
6.5-kilometre (km) Percival trend (Figure 3);
●
Planning to drill
the high-grade Percival target area during the first half of 2022
(Figure 4); and
●
Commenced surface
exploration program at the Eleonore South Joint Venture to advance
large scale 5.5 km long geochemical anomaly to drill stage (Figure
5).
www.furygoldmines.com
Committee Bay:
●
Completed summer
drill program of 2,587m across 5 holes at Committee Bay focused on
the 8km shear zone hosting the Raven prospect where alteration and
veining consistent with gold mineralization were intersected
(Figure 6). Historical drill results from Raven include 31.1 g/t
gold over 2.8m and 9.49 g/t gold over 7.57m1. Results from this
summer’s drill program are expected in mid October;
and
●
Completed
geochemical sampling across six regional target areas in the
southwestern region of the project to advance the most robust gold
anomalies to drill stage.
In
total, there are 17 holes pending at the Eau Claire and Committee
Bay gold projects, which are expected to be released over the next
couple of months.
Figure 1: Eau
Claire deposit trend long section including Snake Lake depicting
recent drill intercept highlights and drill holes with results
pending.
www.furygoldmines.com
Figure 2: Snake
Lake long section depicting recent drill highlights and drill holes
with pending results.
www.furygoldmines.com
Figure 3: Regional
geology map showing the outlines of the completed geochemical grids
at four of the nine identified regional
targets.
www.furygoldmines.com
Figure 4: New
interpretation of the Percival prospect showing the steep west fold
plunge as indicated by the 3D magnetic
inversion.
www.furygoldmines.com
Figure 5:
Historical high-grade 5.5 km long +50 ppb gold in till anomaly at
the Eleonore South Joint Venture will be followed up on as part of
the 2021 exploration program.
www.furygoldmines.com
Figure
6: 2021 drilling at the Raven Prospect successfully intersected the
gold bearing structure within a 20-30m wide alteration zone in all
holes.
Technical Disclosure
The
above figures reference only highlights, see the Company’s
periodic filings for full details of the work being conducted and
its results.
Analytical
samples from exploration drill holes completed by Fury at Eau
Claire between October 2020 and May 2021 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.
www.furygoldmines.com
Analytical
samples from resource expansion drill holes completed by Fury at
Eau Claire between October 2020 and April 2021 were taken by sawing
NQ diameter core into equal halves on site and sending one of the
halves to ALS Lab in Val d'Or, QC (ISO/IEC 17025:2017 and ISO
9001:2015 accredited facility) for preparation and analysis.
Preparation included crushing core samples to 90% < 2mm and
pulverizing 1000g of the crushed material to better than 85% <
75 microns. All samples are assayed using 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 are greater than 5 ppm Au the assay are repeated with 50 g
nominal weight fire assay with gravimetric finish (Au-GRA22). QA/QC
programs using internal and lab standard and blank samples, field
and lab duplicates and re-assay indicate good overall accuracy and
precision.
Analytical
samples for the Resource Expansion Drill Program completed by Fury
at Eau Claire between April 2021 and June 2021 and Exploration
drill holes completed by Fury between May 2021 and June 2021 were
taken by sawing NQ 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.
Analytical
samples from all drill holes completed by Fury at Eau Claire after
June 2021 were taken by sawing HQ diameter core into equal halves
on site and sending one of the halves to ALS Lab in Val d'Or, QC
(ISO/IEC 17025:2017 and ISO 9001:2015 accredited facility) for
preparation and analysis. Preparation included crushing core
samples to 90% < 2mm and pulverizing 1000g of the crushed
material to better than 85% < 75 microns. All samples are
assayed using 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 are greater than 5 ppm Au
the assay is repeated with 50 g nominal weight fire assay with
gravimetric finish (Au-GRA22). QA/QC programs using internal and
lab standard and blank samples, field and lab duplicates and
re-assay indicate good overall accuracy and precision.
Historical
drill samples at Eau Claire 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.
1.
Intercepts were calculated using a minimum of a 0.25 g/t gold
cut-off at beginning and end of the intercept and allowing for no
more than six consecutive metres of less than 0.25 g/t gold.
Minimum length of the composite intercept allowed was one metre.
The 2005 Raven drilling completed by Committee Bay Resources Ltd.
is historical in nature, however, the Company has reviewed the
associated QA/QC data and original analytical certificates and is
in the opinion the drilling and sampling were carried out following
industry best practices for disclosure.
www.furygoldmines.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 in
relation to all Quebec projects.
Michael
Henrichsen, P.Geo., SVP Exploration at Fury, is a “qualified
person” within the meaning of National Instrument 43-101 and
has reviewed and approved the technical disclosure in this press
release in relation to Committee Bay.
Committee Bay Drilling QA/QC Disclosure
Intercepts
were calculated using a minimum of a 0.25 g/t gold (Au) cut off at
beginning and end of the intercept and allowing for no more than
six consecutive metres of less than 0.25 g/t Au.
About Fury Gold Mines Limited
Fury
Gold Mines Limited is a Canadian-focused gold exploration 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 exploring mining assets, Fury intends to grow and
advance its multi-million-ounce gold platform through 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 Limited, 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
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 information that includes 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: current and planned cost reductions,
future exploration plans and the review of non-core
assets.
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 outlook for minerals; 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.
www.furygoldmines.com
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 Base
Shelf Prospectus, 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 heavy reliance on forward-looking
statements, which can speak only as of the date made. The
forward-looking statements contained in this news release is
expressly qualified by this cautionary statement. The Company will
only update disclosure including forward oriented information as
required under applicable securities law.
- End
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