Fury Gold Mines Ltd 6-K, filed Dec 17, 2020
Fury Gold Mines Ltd (FURY)
6-K
2020-12-17
For: 2020-12-16
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April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on December 17, 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 December 2020
Commission File No.
001-38145
Fury Gold Mines
Limited
(Translation of registrant's name into English)
(Translation of registrant's name into English)
34
King Street East Suite 601, Toronto, M5C 2X8
Canada
(Address of principal executive office)
(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 Press Release
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: December 17,
2020
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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 Identifies Large Scale Gold-In-Till Targets on the
Éléonore South Joint Venture
TORONTO, Canada – December 17, 2020 –
Fury Gold Mines Limited (TSX: FURY,
NYSE American: FURY) (“Fury” or the
“Company”) is pleased to announce the
identification of additional targets on the Éléonore
South Joint Venture (“ESJV”) located in the Eeyou
Istchee Territory in the James Bay region of Quebec. The ESJV land
package comprises 282 claims across 14,700 hectares located 12
kilometers (km) to the south of Newmont Corp.’s
(“Newmont”) Éléonore Mine and to the west and
south of Sirios Resources Inc.’s Cheechoo gold deposit
(Figure 1). The Company has identified two significant and
undrilled target areas that are characterized by large scale
gold-in-till anomalies, which it is proposing to advance to drill
stage in the summer of 2021.
A Message from Mike Timmins, President & CEO:
“As
operator of the ESJV we are very keen to advance the project on
behalf of the joint venture. This exceptional growth opportunity
fits well into our aggressive plan to drive value for shareholders
as we continue to pursue the untapped potential of the James Bay
Gold Camp in Quebec.
“We
are looking forward to a very busy 2021 with drill results from Eau
Claire expected to be released throughout the year, starting early
in the first quarter. In addition to advancing these new targets on
the ESJV, we will begin programs at Homestake Ridge in British
Columbia and Committee Bay in Nunavut, which will offer more
opportunities for resource growth and potential new
discoveries.”
A Message from Michael Henrichsen, SVP, Exploration:
“The
ESJV land package represents an excellent discovery opportunity for
Fury and our joint venture partners. Our technical team appreciates
the high-quality historical data sets that exist, which we will use
to plan and to advance targets to drill stage. The known gold
mineralization at the Moni and JT zones demonstrates bulk tonnage
potential, which we feel underpins the value of the property;
however, the opportunity to explore for undiscovered high-grade
mineralization, similar to that found at the Éléonore
mine, excites our technical group.”
ESJV Overview
As at
December 31, 2015, the ESJV is held by Fury (36.72%), Azimut
Exploration Inc. (“Azimut”) (26.57%), and Les Mines
Opinaca Ltée, a wholly-owned subsidiary of Newmont (36.71%).
The ESJV was formed in 2008 and Fury, through its Eastmain
subsidiary, currently acts as manager and operator of the joint
venture on behalf of the partners.
The
Éléonore South property is strategically located in an
area of prolific gold mineralization within the James Bay Gold Camp
and is locally defined by the Éléonore mine and the
Cheechoo deposit. The property has been explored over the last 12
years by the joint venture with the majority of exploration focused
on the extension of the Cheechoo deposit through approximately
27,000 metres (m) of drilling in 172 drill holes, covering only a
small fraction of the property at the Moni and JT zones (Figure 1).
Notable drill intercepts include 6.0 metres of 49.50 g/t gold (Au),
which included 1.0 metre of 294 g/t Au. Highlights of the
historical drilling are summarized below in Table 1.
Table
1: ESJV Historical Drill Highlights from the Moni and JT
Zones1
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Hole
ID
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From
(m)
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To
(m)
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Interval
(m)
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Au
g/t
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ES17-64
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167.25
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220.50
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53.25
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4.22
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and
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202.5
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213.0
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10.5
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13.00
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incl.
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204.0
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207.0
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3.0
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37.90
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ES18-098
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8.1
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16.5
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8.4
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8.56
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incl.
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8.9
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9.8
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1.0
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71.40
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ES18-100
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14.0
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20.0
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6.0
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49.40
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incl.
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17.0
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18.0
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1.0
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294.00
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ES18-133
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164.8
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171.0
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6.2
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14.70
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167.0
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168.0
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1.0
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80.40
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ES19-156
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140.3
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150.0
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9.7
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7.44
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incl.
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144.7
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145.5
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0.8
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63.20
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ES19-157
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169.4
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193.2
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23.8
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3.08
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incl.
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181.0
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182.5
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1.5
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27.80
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incl.
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186.4
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187.2
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0.8
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13.35
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ES17-077
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142.5
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188.0
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45.5
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1.46
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incl.
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186.5
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188.0
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1.5
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23.10
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*
Cutoff 0.25 g/t Au, max internal dilution 4m
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1.
Analytical samples
were taken by sawing BTW diameter core into equal halves on site
and sent one of the halves to ALS Lab in Rouyn-Noranda, Val
d’Or, QC, and Sudbury, ON for preparation and analysis. 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 were
greater than 3 ppm Au the assay were 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 accuracy and precision in a large majority
of standards assayed. True widths of mineralization are unknown
based on current geometric understanding of the mineralized
intervals.
In
addition, the property is covered by 1,836 line kilometres of
combined magnetic and electro-magnetic surveys as well as 1,700
line kilometres of high resolution, 25-metre spacing, airborne
magnetics over the Moni and JT zonesand 267 line kilometres of
ground-based induced polarization surveys, with approximately
two-thirds of the property covered by geochemical surveys. These
robust datasets will allow Fury to further evaluate the property
and rapidly advance targets to drill stage.
Geochemical Targets
There
are two large scale gold-in-till geochemical anomalies defined to
date that have not been drill tested (Figure 2). Target 1, located
in the central portion of the property, is defined by high tenor
values of +50 ppb gold along a 5.5 kilometre trend. This anomaly is
centered on a clear east-west structural corridor that separates
intrusives to the south and sediments to the north and is partially
covered by a ground-based induced polarization survey. Due to the
limited glacial dispersion of gold-in-tills observed at the Moni
and JT zones, Fury’s technical team believes that the source
area of the geochemical anomaly is locally derived. Target 2,
located in the western portion of the land package, is defined by
+25 ppb gold values along a 2.5 kilometre trend that separates
mafic volcanics from an intrusive complex.
Proposed Programs in 2021
Fury is
working with its partners on the ESJV to finalize a 2021
exploration program. Initial discussions have focussed around
advancing existing target areas as well as deriving new target
areas by integrating all datasets across the project area along
with the collection of new data during the 2021 exploration season.
The proposed program may include:
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Reprocessing and
interpreting the existing airborne magnetic and electro-magnetic
datasets to advance the structural and geologic
framework;
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Geochemical till
surveying across the southern third of the property to complete
property wide coverage;
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Acquiring
additional IP data over defined geochemical anomalies to aid in
drill targeting; and
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Drill testing
between 3,000m and 5,000m at Targets 1 and 2 during Q4
2021.
Figure 1: Presents the 14,700 hectare land position of the
Éléonore South Joint Venture in relation to
Newmont’s Éléonore mine and Sirios Resources’
Cheechoo deposit and illustrates the previous drilling at the
project.
Figure 2: Illustrates the two large-scale geochemical anomalies
that represent the two target areas that Fury plans to advance to
drill stage in the summer of 2021 and the location of the expanded
geochemical survey in the southern third of the
property.
David Rivard, P.Geo, Exploration Manager at Fury, is the Qualified
Person who assumes responsibility for the technical disclosures in
this press release.
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.
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. For more information on Fury
Gold Mines, visit www.furygoldmines.com
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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 drill programs at Eau Claire, the ESJV and Fury’s other
properties. 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 the
Annual Information Form of Eastmain Resources Inc. (“Eastmain
Resources”) and the Company’s and Eastmain
Resource’s respective 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.
LEGAL*51274512.3
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www.furygoldmines.com
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