Fury Gold Mines Ltd 6-K, filed May 25, 2021
Fury Gold Mines Ltd (FURY)
6-K
2021-05-25
For: 2021-05-25
View Original
Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on May 25, 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 May
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
Fury Drills Top Five Intercept To Date - 23.27 g/t Gold Over 7.09
Metres - 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: May 25, 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 Top Five Intercept To Date - 23.27 g/t Gold Over 7.09
Metres - Outside of the Defined Resource at Eau Claire
Toronto, Canada – May 25, 2021 – Fury Gold Mines Limited (TSX: FURY, NYSE
American: FURY) (“Fury” or the
“Company”) is pleased to announce results from
its ongoing resource expansion and exploration drill program at the
Eau Claire deposit located in the Eeyou Istchee Territory of the
James Bay region, Quebec. Drill hole 21EC-022 intersected
23.27 g/t gold (Au) over
7.09 metres (m) in the
southeast margin of the defined resource further demonstrating the
potential to significantly expand the resource down plunge to the
east (Figures 1 and 2). This intersection represents the fifth best
result drilled, in terms of grade and width, from over 900 holes
drilled at Eau Claire to date. Given this result, Fury’s
technical team plans to continue drilling east of the deposit
focusing on the 220-metre gap between the known resource and the
Target A panel (Figure 1).
Preliminary
results returned from Target A, located 200- to 350-metre down
plunge east of the deposit, highlighted high-grade gold intervals
of 7.1 g/t gold over 0.5m
and 4.05 g/t gold over 0.5m
that intersected a 5- to 20-metre wide zone of alteration with
stacked quartz-tourmaline veins and associated quartz feldspar
porphyry dykes along the Eau Claire deposit structure (Figure 2).
With only three drill holes drilled into a 200-metre by 250-metre
area, the Company believes additional drilling is required to
obtain a representative view of grade distribution within this area
of highly prospective geology. Drill results for the resource
expansion holes and the Target A panel are presented below (Table
1).
“It’s
exciting to drill an all-time top five drill hole at Eau Claire, a
high-quality project that has steadily improved since we started
drilling in late 2020,” commented Mike Timmins, President and
CEO of Fury. “We are eagerly awaiting several pending holes,
many of which contain coarse visible gold and we are looking
forward to starting our regional program, the planning of which is
near complete. Quebec is arguably one of the best mining
jurisdictions in the world and we are fortunate to be developing
this high-grade district opportunity.”
Table
1: Resource Expansion and Exploration Drill 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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21EC-020
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No
Significant Intersections
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21EC-022
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319
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327.5
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8.5
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7.09
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23.27
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21EC-015
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721
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722
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1
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Not
Applicable
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1.25
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730
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731
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1
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Not
Applicable
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2.06
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738.5
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739
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0.5
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Not
Applicable
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4.05
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21EC-017
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95.5
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97
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1.5
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Not
Applicable
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1.28
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314
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317.5
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3.5
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Not
Applicable
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2.41
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Incl.
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314
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315
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1
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Not
Applicable
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4.86
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780
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781.5
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1.5
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Not
Applicable
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2.96
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Incl.
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781
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781.5
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0.5
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Not
Applicable
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7.10
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818
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819.5
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1.5
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Not
Applicable
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1.05
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894
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895.5
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1.5
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Not
Applicable
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1.35
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21EC-019
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650
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651
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1
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Not
Applicable
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1.24
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True thickness calculations for resource expansion drilling is
based on a dip of 55o
and dip azimuth of
191.5o.
Lengths for exploration drilling are drill indicated core length,
as insufficient drilling has been undertaken to determine true
widths at this time. Main intervals - Au grade*thickness no less
than 2 g/t*m with grade is no less than 1 g/t, maximum consecutive
dilution 2m
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“The
exploration program is tracking well with our first 12 drill holes
east of the deposit demonstrating the expansion potential 700
metres down plunge. The drilling at Snake Lake suggests a size
potential to rival the Eau Claire deposit and includes the
discovery of a new mineralized structure between Snake Lake and Eau
Claire. We believe that these initial holes highlight the
prospectivity of the 5km deposit trend and the likelihood of
offering a significant resource expansion potential,” stated
Michael Henrichsen, SVP, Exploration of Fury.
Figure 1: Eau Claire Deposit long section depicting the resource
block model and location of recent resource expansion as well as
the down plunge extension drill holes in Targets A and
B.
Eastern Expansion and Target A Results
To date
Fury has drilled four holes targeting the eastern extension of the
lower eastern margin of the resource that is currently defined as
204,000 ounces at 11.81 g/t gold (2.5 g/t cut-off
grade)1.
The Company is impressed with the continuity of high-grade
mineralization with all three holes returning high-grade results as
follows: 23.27 g/t gold over 7.09m,
11.56 g/t gold over 6.04m, 59.3 g/t gold over 1m, 8.87 g/t gold
over 3m and 4.89 g/t gold over 2.94m (refer to news releases
dated April 30, 2021 and March 1, 2021). These results confirm
Fury’s belief of the potential to expand the deposit to the
east.
The
results from the three drill holes into the Target A panel and the
previously reported four drill holes into the Target B panel of
2.59 g/t gold over 3m, 15.3 g/t gold over 1m and 8.89 g/t gold over
1.5m (refer to news releases dated March 30, 2021 and January
25th,
2021) over an area of 600m by 400m on the Eau Claire deposit
structure show the potential to expand the deposit 700m down plunge
to the east. In particular, the presence of multiple stacked
quartz-tourmaline veins and alteration over widths up to 20m in the
Target A panel demonstrate a strong fluid pathway that requires
additional drilling to fully understand the distribution gold
grades within this portion of the Eau Claire deposit
structure.
Figure 2: Target A Drill Hole Quartz Tourmaline Vein
Density
Eau Claire Technical Disclosure
Analytical samples for the Resource Expansion Drill Program were
taken by sawing NQ diameter core into equal halves on site and sent
one of the halves to Bureau Veritas (BV) lab in Timmins, ON
(ISO/IEC 17025 accredited facility) for preparation and analysis.
Preparation included crashing core sample to 90% < 2mm and
pulverizing 1000g of crushed material to better than 85% < 75
microns. All samples are assayed using 50 g nominal weight fire
assay with atomic absorption finish (BV code FA450) and
multi-element four acid digest ICP-AES/ICP-MS method (BV code
MA200). Where FA450 results are greater than 5 ppm Au the assay is
repeated with 50 g nominal weight fire assay with gravimetric
finish (FA550-Au). QA/QC programs using internal and lab standard
and blank samples, field and lab duplicates and re-assay indicate
good overall accuracy and precision.
Analytical
samples from the 2020 and 2021 Exploration Drill program were taken
by sawing NQ diameter core into equal halves on site with one half
being sent to Actlabs in Val d’Or, QC for preparation and
then to Actlabs in Thunder Bay, ON for analysis. All samples are
assayed using 50 g nominal weight fire assay with atomic absorption
finish (1A2B-50) and multi-element four acid digest ICP-AES/ICP-MS
method (1F2). Where 1A2B-50 results were greater than 5 ppm Au the
assay were repeated with 50 g nominal weight fire assay with
gravimetric finish (1A3-50). QA/QC programs using internal standard
samples, field and lab duplicates and blanks indicate good overall
accuracy and precision.
Historical
drill samples were taken by sawing NQ diameter core into equal
halves on site with one half being sent to ALS Chemex in Val
D’or, QC for preparation and analysis. All samples were
assayed using a 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 5 ppm Au the assay was 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 overall accuracy and precision.
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.
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.
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,
visit www.furygoldmines.com.
For further information on Fury Gold Mines Limited, please
contact:
Salisha
Ilyas, Vice President, Investor Relations
Tel:
(844) 601-0841
Email:
info@furygoldmines.com
Website:
www.furygoldmines.com
Forward-Looking Statements 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 Canada and United States
securities laws ("forward-looking statements"), 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 statements are statements that
include implied future performance and/or forecast information.
Forward-looking statements in this release reflect management's
current estimates, predictions, expectations or beliefs regarding
future events. Specific forward-looking statements contained in
this release include information relating to: Fury's exploration
drill programs at its Eau Claire deposit, including with respect to
pending deposit drill hole results and the prospectivity of the Eau
Claire deposit; 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 statements
reflect 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 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
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, 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 statements, which speak only as
of the date made. The forward-looking 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 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
Definition Standards on Mineral Resources and Mineral Reserves. 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.