Fury Gold Mines Ltd 6-K, filed Jul 14, 2021
Fury Gold Mines Ltd (FURY)
6-K
2021-07-14
For: 2021-07-14
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Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on July 14, 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 July
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
July 14, 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: July 14, 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 Commences Drilling at the Committee Bay Project in
Nunavut
Toronto, Canada – July 14, 2021 – Fury Gold Mines Limited (TSX: FURY, NYSE
American: FURY) (“Fury” or the
“Company”) is pleased to announce that it has
commenced drilling at its Committee Bay project in the Kitikmeot
region of Nunavut. Fury controls a 270,000-hectare land position,
which is situated across a 300-kilometre (km) greenstone belt, with
multiple high-grade target centres. The Company’s 5,000-metre
(m) drill program is designed to expand the defined high-grade
mineralization at the Raven prospect, which has historical drill
intercepts of 2.8m of 31.1 g/t gold and 5.49m of 12.6 g/t
gold1, and
test the potential below the current resource at the Three Bluffs
deposit. Fury also plans to conduct surface exploration work at
five targets located in the southern half of the belt to advance
them to drill stage (Figure 1).
“Committee
Bay represents a potential major gold exploration opportunity in
Nunavut where some of the largest global gold discoveries have been
made,” commented Mike Timmins, President and CEO. “This
year’s high impact exploration plan has been designed to test
significant extensions of high-grade mineralization at both Raven
and Three Bluffs, as well as advance several high priority targets
on the belt to drill stage. We are very excited about this
year’s program as Raven has some of the best historic drill
results on the entire greenstone belt and sits on a mineralized 8km
shear zone.”
Raven Prospect Overview
The
Raven prospect is located in the southwest third of the Committee
Bay gold belt approximately 40km west of the Three Bluffs deposit
(Figure 1). It is situated along an 8km long shear zone where
defined gold mineralization occurs in quartz-arsenopyrite veins in
highly sheared gabbros and mafic volcanic rocks over a strike
length of approximately 1.2km (Figures 2 and 3). Raven has a total
of nine historical drill holes totaling 1,670m over a drilled
strike length of 400m. The drilling has defined a high-grade body
of mineralization approximately 250m in length, with a 30-degree
plunge to the east that is open along strike and down dip (Figure
3).
Fury
plans to drill the Raven prospect through aggressive step outs up
to 500m down plunge from historical drilling to demonstrate the
scale of the system and to explore the entire length of the 8km
shear zone to define new targets through systematic till sampling
and geological mapping.
Three Bluffs Deposit Expansion Drilling
The
Three Bluffs deposit is a high-grade resource defined by 524,000
oz. at 7.85 g/t gold in the indicated category and 720,000 oz. at
7.64 g/t gold in the inferred category2. High-grade
mineralization at the deposit is associated with high conductivity
responses due to the intense sulphidization of the banded iron
formation. Fury’s primary target at the deposit is a
conductive body that measures 600m by 200m at a vertical depth of
between 300m and 500m (Figure 4). The target is down dip from
high-grade mineralization and offsets the following historical
drill intersections: 5m of 40.6 g/t gold, 5.3m of 29.03 g/t gold,
11m of 16.23 g/t gold, 5m of 15.2 g/t gold, 2m of 21.81 g/t gold
and 2m of 19.38 g/t gold3. The Company plans
to drill across the entire conductivity body to demonstrate the
potential for resource growth at the deposit.
“We
are excited to drill for scale at the Raven prospect to demonstrate
the true size potential of this early staged discovery within 50km
of the Three Bluffs deposit. The technical team is also looking
forward to advancing a number of regional targets to drill stage
this summer in preparation for the 2022 exploration season,”
stated Michael Henrichsen, SVP, Exploration.
Figure
1: Illustrates the Raven prospect and Three Bluffs deposit that
will be drilled during the summer program as well as the targets
that will see surficial exploration work of geologic mapping and
till sampling in the southern half of the Committee Bay gold
belt.
Figure
2: Illustrates the 1.2km mineralized footprint at the Raven
prospect within the larger 8km long Raven shear zone.
Figure
3: Illustrates both long sections and cross sections of the
mineralized zone defined by historical drilling at the Raven
Prospect. Exploration drill holes are depicted by green circles on
the long section.
Figure
4: Illustrates the 600m by 200m conductor that Fury plans to drill
test during the summer of 2021 with the aim of expanding the
resource at the Three Bluffs deposit.
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.
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.
RAB Drilling
Analytical
samples were taken using 1/8 of each 5ft (1.52m) interval material
(chips) and sent to ALS Lab in Yellowknife, NWT, Thunder Bay, ON,
and Vancouver, BC for preparation and then to ALS Lab in Vancouver,
BC for analysis. All samples are assayed using 30g nominal weight
fire assay with atomic absorption finish (Au-AA25) in 2017 and part
of 2018 or 50g nominal weight fire assay with atomic absorption
finish (Au-AA26) in 2015, 2016, part of 2018, and 2019 and
multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61).
QA/QC programs using internal standard samples, field and lab
duplicates and blanks indicate good accuracy and precision in a
large majority of standards assayed.
Core (Diamond) Drilling
Analytical
samples were taken by sawing NQ diameter core into equal halves on
site and sent one of the halves to ALS Lab in Vancouver, BC for
preparation and analysis. All samples are assayed using 50g nominal
weight fire assay with gravimetrical finish (Au-GRA22) in year 2016
and with atomic absorption finish (Au-AA26) in 2018 and
multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61).
QA/QC programs using internal standard samples, field and lab
duplicates and blanks indicate good accuracy and precision in a
large majority of standards assayed.
Based
on the estimated geometry of the mineralized zones, the true widths
of the intervals drilled at the Three Bluff deposit are believed to
be at approximately 40-75% of the drilled widths. True widths of
mineralization outside of the Three Bluff deposit are unknown based
on current geometric understanding of the mineralized
intervals.
Committee Bay Grabs
Approximately
1-2kg of material was collected for analysis and sent to ALS Lab in
Vancouver, BC for preparation and analysis. All samples are assayed
using 50g nominal weight fire assay with atomic absorption finish
(Au-AA26) and multi-element four acid digest ICP-AES/ICP-MS method
(ME-MS61). QA/QC programs for rock grab samples using internal
standard samples, lab duplicates, standards and blanks indicate
good accuracy and precision in a large majority of standards
assayed. Grab samples are selective in nature and cannot be
consider as representative of the underlying
mineralization.
2017 pXRF tills
Samples
(~250g) of unweathered till were collected from 20-30cm depth in
frost boils at 100m sample spacing. Pebbles (>1cm) were removed
in the field. Samples were not collected in areas of glaciofluvial
or fluvial reworking. Collected samples were returned to camp to be
analyzed in the field. Samples were air-dried, then 50g of sediment
was spread over a clean creased paper. Samples were gently shaken
to separate and discard coarse sand/pebbles, leaving a fine
sand/silt. ~10-20g of this material was transferred to a
2”x3” plastic zip bag, labelled, and analyzed with a
benchtop mounted pXRF in Soil Mode for 90 seconds. QA/QC included
regular standard samples and field duplicates.
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 contains
"forward-looking information" or "forward-looking statements"
within the meaning of applicable securities laws and 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 and statements 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: Fury's drilling and exploration programs at its
Committee Bay property, specifically at the Raven prospect and the
Three Bluffs deposit, and the results of such programs; Fury's
growth plans; and the future 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 Company's assumptions
around 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 speaks only as of the date made. The
forward-looking information contained in this news release is
expressly qualified by this cautionary statement. 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
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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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.
2 Refer
to NI43-101 technical report dated May 31, 2017, as amended October
23, 2017 titled “Technical Report on the Committee Bay
Project, Nunavut Territory, Canada” filed under the
Company’s profile at www.sedar.com.
Resources are estimated at cut-off grades of 3.0 g/t gold for open
pit and 4.0 g/t gold for underground.
3 Historical
intercepts at Three Bluffs were calculated using a minimum of a 2.0
g/t gold cut off at the beginning and end of the intercept and
allowing for no more than 2.5 consecutive metres of less than 2.0
g/t gold. Minimum length of the composite allowed was one
metre.
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www.furygoldmines.com
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