Fury Gold Mines Ltd 6-K, filed Oct 29, 2020
Fury Gold Mines Ltd (FURY)
6-K
2020-10-29
For: 2020-10-29
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Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on October 29, 2020.
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 October 2020
Commission File No.
001-38145
Fury Gold Mines
Limited
(Translation of registrant's name into English)
(Translation of registrant's name into English)
Suite 600, 1199 West Hastings
Street
Vancouver, British Columbia, V6E 3T5 Canada
(Address of principal executive office)
Vancouver, British Columbia, V6E 3T5 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
Press Release dated
October 29, 2020
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: October 29,
2020
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By:
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/s/ Elizabeth
Senez
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Elizabeth
Senez
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Interim Chief
Financial Officer
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Fury Provides Drill Targeting ahead of Upcoming 50,000 Meter
Exploration Program at Eau Claire
Vancouver & Toronto, Canada – October 29, 2020
– Fury Gold Mines
Limited (TSX: FURY, NYSE American: FURY) (“Fury” or the
“Company”) is pleased to provide a targeting
update on the 50,000-meter drill program at the Eau Claire project
in Quebec, scheduled to commence in the first week of November.
Exploration drill targets that are focused on expanding the deposit
will test a one-kilometer down plunge extension. The program will
also focus on several highly prospective, untested gold targets
within the 7-kilometer deposit trend. The first drill rig is on
schedule to start next week and will concentrate near the existing
deposit and a second rig will be added two weeks later and will
commence the large step-out exploration.
A Message from Mike Timmins, President & CEO:
“Our
first look at targeting supports our thesis that the Eau Claire project presents a much better
opportunity than previously identified. The high-quality resource
is open in all directions and benefits from increasing grade at
depth. Our targeting continues to evolve and has already identified
significant areas for resource expansion around the deposit and
along the multi-kilometer, underexplored trend of gold-bearing
structures, where we are identifying repeating target patterns.
“We are excited for the commencement of this substantial
program, as we believe our comprehensive geological approach will
demonstrate the considerable growth potential at Eau
Claire.”
Eau Claire Deposit Extension Exploration Drilling:
Fury’s
goal at Eau Claire is to significantly expand the deposit with a
focused 10,000 – 12,000-meter drill program that targets a
one-kilometer down plunge extension (Figure 1). The potential for
high-grade gold mineralization to continue down plunge is strongly
supported by newly acquired gradient array IP chargeability data
where the intersection of primary and secondary shear zones has
been imaged approximately 600 – 800 meters to the east of
limits of drilling at the Eau Claire deposit (Figure 2). This newly
imaged structural pattern is defined by the intersection of the
mineralized Snake Lake structure and the projected continuation of
the Eau Claire deposit structure. This structural geometry is
consistent with that observed at the Eau Claire deposit and in part
forms the basis of the down plunge targets (Figure 2).
Summary of Targets:
Target
A is situated 100 – 300 meters down plunge from the limit of
the current resource. The planned drill array represents a 200
– 500 meter down dip extension from the target area where
historical drilling above the target area hosts intercepts of 1.0
meters of 12.6 g/t gold, 2.5 meters of 4.4 g/t gold and 2.0 meters
of 4.8 g/t gold (Figure 1). Collectively, these historical results
are associated with both quartz – tourmaline veins and
secondary shear zone alteration and are interpreted to be
vertically situated above the projected down plunge extension of
the deposit but demonstrate the continuity of mineralized system to
the east of the current resource (Figure 1).
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Target
B is situated 500 - 700 meters down plunge from the limit of the
current resource. The planned drill array represents a 400 - 700
meter down dip extension from historical drilling above the target
area where there is a 20-meter-wide zone of alteration that is
similar to that observed with secondary shear zones at the Eau
Claire deposit (Figure 3). Importantly, newly acquired gradient
array IP chargeability data images the intersection of the primary
shear zone and secondary shear zones that are associated with the
extension of the Eau Claire deposit structure and the mineralized
Snake Lake structure, respectively. Similar structural
intersections at the Eau Claire deposit are associated with
high-grade gold mineralization. Fury is planning on drilling Target
B first within this drill program within drill holes B1 and B2,
respectively (Figure 3).
Target
C is situated 800 – 1000 meters down plunge from the limit of
the current resource. The planned drill array represents a 700
– 900 meter down dip extension from the historical drilling
above the target area. This target is also situated along the same
structural intersection of the Snake Lake and Eau Claire structures
that in part defines Target B (Figure 2).
A Message from Michael Henrichsen, SVP of Exploration:
"Our
technical team is very pleased with the results of our ongoing
gradient array IP survey. The chargeability data is providing us
with clear targets to significantly expand the deposit as we
prepare to embark on an aggressive exploration drill program. We
are also excited to complete this IP program and continue to
develop high quality targets across the 7-kilometer deposit trend
that have similar structural geometries as the Eau Claire
deposit.”
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Figure 1: Illustrates targets that will test a one-kilometer down
plunge extension of the Eau Claire deposit. These target areas were
derived from structural geometries associated with newly acquired
gradient array IP data as well geological and geochemical
information obtained up-dip from the target zones.
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Figure 2: Depicts similar
structural geometries at the outcropping portion of the Eau Claire
deposit and the planned drill arrays at Targets B and C. The
intersection of the primary and secondary shear zones at the
resource at the Eau Claire deposit are the focus for high-grade
mineralization. At Targets B & C, a similar structural geometry
is observed where the mineralized Snake Lake structure intersects
the continuation of the Eau Claire deposit
structure.
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Figure 3: Depicts a cross-section of the planned drill holes at
Target B where hole B1 will be the first to be drilled,
representing a 600-meter down plunge extension away from the known
resource as well as a 400-meter down dip extension from the nearest
drill hole that was characterized by a 20-meter-wide alteration
zone similar to that observed at the Eau Claire
deposit.
Michael Henrichsen, P.Geo, SVP of Exploration at Fury, is the
Qualified Person who assumes responsibility for the technical
disclosures in this press release.
ON
BEHALF OF THE BOARD OF DIRECTORS OF FURY GOLD MINES
LIMITED
Mike Timmins
President,
CEO & Director
For further information on Fury Gold Mines Limited, please contact
Natasha Frakes, Manager of Corporate Communications at (778)
729-0600, info@furygoldmines.com or
visit www.furygoldmines.com.
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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.
Forward Looking Information and Additional Cautionary
Language
This
release includes certain statements that may be deemed
“forward-looking statements”. Forward looking
information is information that includes implied future performance
and/or forecast information including information relating to the
growth plans and future results of Fury, and the timing and results
of the drill program at Eau Claire. These 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. 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.
The
Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this
release.
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