Fury Gold Mines Ltd 6-K, filed Feb 2, 2021
Fury Gold Mines Ltd (FURY)
6-K
2021-02-02
For: 2021-02-02
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Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on February 2, 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 February
2021
Commission
File No. 001-38145
Fury Gold Mines Limited
(Translation
of registrant’s name into English)
34 King Street East Suite 601, 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 Outlines 2021 Exploration Program at
Homestake Gold-Silver Project; 25,000 Metres Focused on Resource
Expansion
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: February 2, 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 Outlines 2021 Exploration Program at Homestake Gold-Silver
Project; 25,000
Metres Focused on Resource Expansion
Toronto, Canada – February 2, 2021 –
Fury Gold Mines Limited (TSX: FURY,
NYSE American: FURY) (“Fury” or the
“Company”) is pleased to provide an update on
exploration plans for the high-grade Homestake Ridge gold-silver
project located in the Nisga’a Nation Territory within
British Columbia’s Golden Triangle. The Company plans to
drill 25,000 metres (m) at the project in the summer of 2021 with
the primary goal of expanding the resource and testing high quality
gold-silver targets along the deposit trend. In addition, an infill
drill program will be conducted with the goal of converting a large
portion of the resource at the Homestake Silver deposit from
inferred to indicated category.
“The
Company has refined the geological model at Homestake Ridge and
outlined the largest and most intensive drill campaign at the
project to date,” commented Mike Timmins, President and CEO
of Fury. “We have identified multiple high priority
opportunities to expand the resource and discover additional
high-grade gold and silver mineralization at the project.
Increasing the ounce profile at Homestake is a key component of our
growth strategy and supports the continuous growth we offer to our
shareholders.”
Homestake Ridge Deposit Overview
The
Homestake Ridge project is comprised of numerous precious metal
epithermal occurrences and has a significant resource (Tables 1 and
2). The 7,500-hectare property is located in the
Iskut-Stewart-Kitsault belt, approximately 30 kilometres (km) north
of the town of Kitsault, with good infrastructure and proximity to
high-tension power lines and the deep-water port of Alice Arm
(Figure 1). In addition, a serviceable forestry road is located
within 6km of the deposit.
Table 1
Homestake Ridge Deposit Mineral Resource (At a 2.0 g/t Au Eq
– cut-off grade)
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Average
Grade
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Metal
Content
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Classification
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Tonnage
Mt
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Gold
g/t
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Silver
g/t
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Copper
%
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Lead
%
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Gold
oz
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Silver
Moz
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Copper
Mlb
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Lead
Mlb
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Total
Indicated
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0.7368
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7.02
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74.8
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0.18
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0.077
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165,993
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1.8
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2.87
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1.25
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Total
Inferred
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5.445
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4.58
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100.0
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0.13
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0.142
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816,719
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17.8
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15.87
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17.34
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Notes:
1.
Based on the
technical report with an effective date of May 29, 2020, as amended
and restated June 24, 2020 and titled, “Technical Report,
Updated Mineral Resource Estimate and Preliminary Economic
Assessment on the Homestake Ridge Gold Project, Skeena Mining
Division, British Columbia,” which was filed and is available
on the Company’s SEDAR profile at www.sedar.com.
2.
Canadian Institute
of Mining, Metallurgy and Petroleum (CIM) Definition Standards for
Mineral Resources and Mineral Reserves dated May 10, 2014 (CIM
(2014) definitions), as incorporated by reference in NI 43-101,
were followed for Mineral Resource estimation.
3.
AuEq values were
calculated using a long-term gold price of US$1,300 per ounce,
silver price at US$20 per ounce and copper price at US$2.50 per
pound and an exchange rate of US$1.00=C$1.20. The AuEq calculation
included provisions for metallurgical recoveries, treatment
charges, refining costs and transportation.
4.
Bulk density ranges
from 2.69 t/m3 to 3.03 t/m3, depending on the
domain.
Table 2
Homestake Ridge Deposit Mineral Resource (At a 3.0 g/t Au Eq
– cut-off grade)
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Average
Grade
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Metal
Content
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Classification
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Tonnage
Mt
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Gold
g/t
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Silver
g/t
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Copper
%
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Lead
%
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Gold
oz
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Silver
Moz
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Copper
Mlb
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Lead
Mlb
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Total
Indicated
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0.592
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8.18
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90.5
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0.19
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0.090
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155,730
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1.7
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2.5
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1.18
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Total
Inferred
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4.136
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5.52
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118.6
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0.15
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0.163
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734,275
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15.8
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14.0
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14.84
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Notes:
1.
Based on the
technical report with an effective date of May 29, 2020, as amended
and restated June 24, 2020 and titled, “Technical Report,
Updated Mineral Resource Estimate and Preliminary Economic
Assessment on the Homestake Ridge Gold Project, Skeena Mining
Division, British Columbia,” which was filed and is available
on the Company’s SEDAR profile at www.sedar.com.
2.
Canadian Institute
of Mining, Metallurgy and Petroleum (CIM) Definition Standards for
Mineral Resources and Mineral Reserves dated May 10, 2014 (CIM
(2014) definitions), as incorporated by reference in NI 43-101,
were followed for Mineral Resource estimation.
3.
AuEq values were
calculated using a long-term gold price of US$1,300 per ounce,
silver price at US$20 per ounce and copper price at US$2.50 per
pound and an exchange rate of US$1.00=C$1.20. The AuEq calculation
included provisions for metallurgical recoveries, treatment
charges, refining costs and transportation.
4.
Bulk density ranges
from 2.69 t/m3 to 3.03 t/m3, depending on the
domain.
Figure 1: Illustrates the location of the Homestake Ridge project
within the southern region of British Columbia’s Golden
Triangle as well as the infrastructure and project access
associated with the deposit.
2021 Drill Program
Fury
plans to conduct approximately 15,000m of exploration drilling to
extend the deposit to depth and along strike. Drilling is expected
to begin in the summer of 2021. The deposit extension targets are
based upon expanding zones of high-grade mineralization, which are
defined by intense silicification, continuous breccia bodies and
vein sets that are based on a relog and the recently completed
geological model of the deposit (Figure 2). Planned step-outs from
these high-grade breccia bodies and vein sets range from 100m to
350m and have the potential to significantly expand the resource
(Figures 3 and 4).
“The
technical team sees a great deal of potential to expand the
resource at Homestake Ridge based on the revised geological model
of the deposit,” commented Michael Henrichsen, SVP,
Exploration of Fury. “The technical team strongly believes in
the discovery potential of new mineralized bodies along the deposit
trend, that if successful, could considerably change the size of
the project.”
The
Company also plans to conduct approximately 10,000m of infill
drilling at Homestake Silver. The goal of this program is to
upgrade a portion of the resource from inferred to indicated
category and to demonstrate the geologic continuity of
mineralization based on all recently completed geological data sets
and models to-date (Figure 5).
Figure 2 – Breccias and veining of Homestake Main and
Homestake Silver deposits.
Figure 3: Illustrates the resource expansion and exploration drill
plan for the Homestake Ridge high-grade
gold-silver project. Step-out drill holes are planned to offset the
resource between 100m and 350m.
Figure 4: Illustrates cross sections of the Homestake Silver and
Homestake Main deposits and the planned
offsets of high-grade mineralization.
Figure 5: Illustrates the planned infill drill program at Homestake
Silver and representative sample of
high-grade intercepts within the Homestake Silver
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.
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 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 exploration
drill programs at its Homestake Ridge deposit, including with
respect to goals thereof and the potential resource upgrades;
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, 2019 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, 2019 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
Mineral Resources
This
release uses the term “mineral resources”, which is
defined with reference to 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 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.