Fury Gold Mines Ltd 6-K, filed Mar 1, 2021
Fury Gold Mines Ltd (FURY)
6-K
2021-03-01
For: 2021-03-01
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Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on March 1, 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 March
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 Drills
6.04 Metres of 11.56 g/t Gold Outside of the Defined Resource 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: March 1, 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 Drills 6.04 Metres of 11.56 g/t Gold Outside of
the
Defined Resource at Eau Claire
Toronto, Canada – March 1, 2021 – Fury Gold Mines Limited (TSX: FURY, NYSE
American: FURY) (“Fury” or the
“Company”) is pleased to announce the first set
of results from its 25,000-metre (m) resource expansion and infill
drill program at the Eau Claire deposit located in the Eeyou
Istchee Territory in the James Bay region of Quebec. The drill
program was designed to expand the resource by testing between
defined resource blocks as well as confirm the quality and
continuity of mineralization within the inferred resource category
in the lower eastern region of the deposit. Highlights from drill
holes outside of the defined resource include 6.04m of 11.56 g/t
gold and 2.51m of 8.87 g/t gold and demonstrate the potential to
expand the deposit.
“Our
first set of drill results confirm the potential of this under
explored area of the deposit and supports our overall goal of
increasing scale and defining more gold at Eau Claire,”
commented Mike Timmins, President and CEO, Fury. “We are very
pleased with the productivity and pace of the program and are
excited to continue drilling out the lower areas of the deposit, as
well as the down-plunge extension. Assays are pending on several
holes and we look forward to delivering consistent drill results
over the coming months.”
This
program is specifically focused on expanding and upgrading the
highest grade portion of the resource at the lower eastern margin
of the deposit, which contains an inferred resource of 204,000
ounces grading 11.81 g/t gold at a 2.5 g/t cut-off
grade1
(Figure 1). The results of the first five holes are presented below
(Table 1).
Table
1: Resource Expansion and Infill Drill Program Results
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Hole
ID
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From
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To
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Length
(m)
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True
Thickness
(m)
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Au
(g/t)
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20EC-001
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No
significant intercepts
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20EC-002
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399.9
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403.7
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3.8
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2.94
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4.89
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Incl.
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399.9
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403.1
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3.2
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2.47
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5.40
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20EC-003
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148.6
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149.3
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0.7
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0.51
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17.05
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377.5
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384.0
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6.5
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5.43
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4.45
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Incl.
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381.0
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384.0
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3.0
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2.51
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8.87
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391.0
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392.0
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1.0
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0.84
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7.67
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20EC-004
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240.8
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241.3
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0.5
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0.38
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8.55
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275.0
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276.0
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1.0
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0.77
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4.24
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441.0
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443.0
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2.0
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1.69
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3.39
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451.0
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457.0
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6.0
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5.10
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3.06
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Incl.
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451.0
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455.0
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4.0
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3.40
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3.51
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20EC-005
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312.0
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319.0
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7.0
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6.04
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11.56
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Incl.
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313.0
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317.0
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4.0
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3.45
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18.49
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Main intervals - Au grade*thickness no less than 2g/t*m with grade
is no less than 1g/t, maximum consecutive dilution 2m;
Sub-intervals - Au grade*thickness no less than 7g/t*m with grade
is no less than 3.5g/t, maximum consecutive dilution
2m
True
thickness calculation based on dip of 55° and dip azimuth of
191.5°
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“The
results from the initial five drill holes at the Eau Claire deposit
have demonstrated the potential to meaningfully expand the
high-grade resource on the eastern margin of the deposit. In
addition, due to the fairly predictable nature of the deposit our
confidence in extending the deposit down plunge immediately to the
east has increased,” commented Michael Henrichsen, SVP,
Exploration of Fury.
Figure
1: Eau Claire Deposit long section depicting the resource block
model and location of resource expansion and infill drill
holes.
Eau Claire Deposit Drilling
Drill
holes 20EC-002, 20EC-003, and 20EC-005 intersected significant
mineralization outside of the defined resource area, 300 to 400
vertical metres from surface (Figures 2 - 4). Drill hole 20EC-004
was drilled within an inferred category resource block and returned
3.40m of 3.51 g/t gold demonstrating continuity of mineralization
(Figure 2). Drill hole 20EC-001 was drilled outside of the defined
resource and returned no significant intercept.
To
demonstrate the impact of the Company’s current resource
expansion and infill drill program it is necessary to compare the
current drill results to the overall statistics (i.e. historical
drill holes) of the Eau Claire deposit in terms of the percentage
of drill holes that intercept a minimum mining width of 2m both
above a cut-off grade2 of 2.5 g/t gold and
at an approximate average resource grade of 6.5 g/t gold as
reported in the 2018 resource1,2 (Figure 1). The
initial five holes of the program compare favourably to the overall
deposit statistics in that four of these holes returned intercepts
greater than 2m above a cut-off grade of 2.5 g/t gold and two of
the holes returned intercepts greater than 2m above 6.5 g/t gold,
which is the approximate average grade of the resource at the Eau
Claire deposit (Table 2).
Table
2: Results Comparison of Pre-2020 Drilling in the Resource Area to
2020-2021 Results to Date
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Deposit
Area Drill Intersections
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Pre-2020
Holes
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2020-2021
Holes
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No. of Holes
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% of Total
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No. of Holes
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% of Total
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Total
Holes
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900
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100%
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5
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100%
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Au
>= 2.5 g/t over greater than 2 metres
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553
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61%
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4
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80%
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Au
>= 6.5 g/t over greater than 2 metres
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318
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35%
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2
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40%
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Figure
2: Cross section depicting the location of the significant
intersections from drill holes 20EC-004 and 20EC-005. The
intersection in 20EC-005 is located between defined resource blocks
whereas the reported intersections in 20EC-004 confirm the
continuity of mineralization within a defined inferred resource
block.
Figure
3: Cross section depicting the location of the significant
intersections from drill hole 20EC-003. This intersection is
outside of the previously defined resource at Eau
Claire.
Figure 4: Cross section depicting the
location of the significant intersection from drill hole 20EC-002.
This intersection is outside of the previously defined resource at
Eau Claire.
Analytical
samples 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.
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.
Eau Claire Technical Disclosure
1.
See the technical
report entitled “Technical Report, Updated Mineral Resource
Estimate and Preliminary Economic Assessment on the Eau Claire Gold
Deposit, Clearwater Property, Quebec, Canada” (the
“Eau Claire
Report”) dated effective February 4, 2018, prepared by
Eugene Puritch, P.Eng., FEC, CET, Antoine Yassa, P.Geo., Andrew
Bradfield, P.Eng., Allan Armitage, Ph.D., P.Geo., which can be
found on Eastmain Resources Inc.’s profile at www.sedar.com.
2.
Eau Claire’s
underground cut-off grade of 2.5 g/t gold are based on a gold price
of US$1,250 per ounce as per the Eau Claire Report, which can be
found on Eastmain Resources Inc.’s profile at www.sedar.com.
3.
Linear grades
(g/t*m) were calculated by multiplying the assay gold grade by the
down hole interval length in metres.
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
intends to 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 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: the Eau Claire deposit, including the mineral resource
and the expansion and potential of thereof and Fury's exploration
programs and growth plans.
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
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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