Fury Gold Mines Ltd 6-K, filed Apr 12, 2021
Fury Gold Mines Ltd (FURY)
6-K
2021-04-12
For: 2021-04-12
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Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on April 12, 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 April
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 to Drill Western Extension Targets at Eau
Claire
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: April 12, 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 to Drill Western Extension Targets at Eau Claire
Toronto, Canada – April 12, 2021 – Fury Gold Mines Limited (TSX: FURY, NYSE
American: FURY) (“Fury” or the
“Company”) is pleased to provide an update on
its exploration plans at the high-grade Eau Claire project located
in the Eeyou Istchee Territory in the James Bay region of Quebec.
Fury has identified two target areas on the western limit of the
resource that have the potential to significantly expand the
deposit.
These
targets are located below an area called the 850 zone and were
developed through an increased understanding of the structural and
lithological controls on mineralization within the deposit (Figure
1). Primarily using lithogeochemistry data, Fury’s technical
team was able to define individual rock packages and their relative
position within the anticline, which is the main structural control
on the Eau Claire deposit.
“Over
the past five months, we have gained considerable insight into Eau
Claire through a systematic review of project data and results from
our initial exploration and deposit drilling. This has led to the
identification of several areas of potential expansion, recently
highlighted by the new Snake Lake horizon and Eau Claire’s
eastern down plunge extension,” commented Mike Timmins,
President and CEO of Fury. “We are excited to introduce the
next area of focus for our ongoing drill program, the potential
western expansion of the deposit, which remains within the current
project footprint, but has never been tested.”
Gold
mineralization at Eau Claire is hosted within a mafic volcanic
package that historically was considered a single homogeneous unit.
However, through the analysis of phosphorous/titanium ratios within
drill core and surface samples along the Eau Claire deposit trend,
Fury has been able to define two mappable basaltic units that
collectively define two distinct stratigraphic positions associated
within the 850 and 450 zones (Figure 2), which was previously
unrecognized. Fury’s technical team has determined that the
mineralized horizon of the 450 zone, which represents approximately
85% of the resource at Eau Claire, remains untested below the 850
zone and provides an excellent opportunity to expand the deposit
footprint on the western margin of the deposit.
“The
850 zone has two very compelling targets, which have been derived
from critical advancements in our understanding of the deposit. The
technical team has leveraged historical drill data to identify new
resource extension targets along the western region of the deposit.
We look forward to moving the exploration drill rig to these
targets as soon as the first three drill holes at the Snake Lake
target are completed,” stated Michael Henrichsen, SVP,
Exploration of Fury.
850 Zone Targets
Two
primary targets have been defined on the western margin of the
deposit below the 850 zone, which represents approximately 15% of
the current resource. This area has only been drilled to vertical
depths of approximately 150 metres (m). The mineralization in the
850 zone is hosted within a magnesium rich basaltic unit that is
situated stratigraphically above an iron-rich basaltic unit that
hosts mineralization within the 450 zone. Both targets are situated
at the contact between these distinct basaltic units.
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The
Fold Hinge target is located at shallow depths of approximately
200m to 400m where the iron-rich basalt that hosts the bulk of the
resource remains undrilled (Figure 3). The Limb target is located
at a depth of approximately 500m to 700m and is situated on the
southern limb of the Eau Claire anticline that hosts the deposit.
This target area is a direct extension of previously drilled
high-grade mineralization and is situated at the contact of the
magnesium and iron-rich basalts as well as within a zone of quartz
feldspar porphyry dikes that localize high-grade mineralization in
this region of the deposit (Figure 4). The Limb target area offsets
historical assays of 2.5m of 14.03 g/t gold, 3m of 12.57 g/t gold
and 1.5m of 18.03 g/t gold.
Figure
1: Illustrates the targets at the 850 zone in relation to the
resource at the Eau Claire deposit as highlighted by the orange
dashed ovals.
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Figure
2: Illustrates the Fold Hinge target at the 850 zone, where the
same iron-rich basalt unit that hosts the Eau Claire deposit is
present and remains untested.
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Figure
3: Illustrates the Limb target, which is a direct extension of
previously drilled high-grade mineralization and is situated at the
contact of the magnesium and iron-rich basalts as well as at a zone
of quartz feldspar porphyry dikes that localize high grade
mineralization in this region of the deposit.
Technical Disclosure
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.
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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
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 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 it’s the Eau
Claire deposit, including with respect to any potential resources,
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.
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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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