Fury Gold Mines Ltd 6-K, filed Feb 10, 2021
Fury Gold Mines Ltd (FURY)
6-K
2021-02-10
For: 2021-02-10
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Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on February 10, 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 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
99.1 Fury Outlines First Regional Exploration Target
at Eau Claire; Summer Plans to Explore the Percival
Trend
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 10, 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 First Regional Exploration Target at Eau
Claire;
Summer Plans to Explore the Percival Trend
Toronto, Canada – February 10, 2021 –
Fury Gold Mines Limited (TSX: FURY,
NYSE American: FURY) (“Fury” or the
“Company”) is pleased to provide an update on
its regional exploration plans at the Eau Claire project located in
the Eeyou Istchee Territory in the James Bay region of Quebec. This
summer the Company plans to explore the Percival trend, which is
located 14 kilometres (km) east of the Eau Claire deposit. Percival
was the site of a 2018 discovery that included drill intercepts of
78.5 metres (m) of 1.46 g/t gold (Hole ER18-822) and 87m of 2.35
g/t gold (ER18-823)1 from surface (Figure 1). The mineralized
footprint at Percival is 400m by 100m and is hosted within
sulphidized and silicified breccias in a sedimentary sequence in
multiple parallel stacked lenses (Figure 2). This represents a
second style of mineralization at the Eau Claire project that
Fury’s technical team believes is largely
underexplored.
“Over
the past six months our technical team has identified considerable
opportunities to increase ounces at Eau Claire and expand upon past
discoveries throughout the land position. At Percival we have
significantly advanced the detection of surface mineralization
under till cover using biogeochemistry. This opens up the entire
property for new target development as we plan to explore the
Percival, Serendipity and North Structure trends this
summer,” stated Michael Henrichsen, SVP, Exploration of
Fury.
Geochemistry Advancement at Percival
The
Percival prospect did not provide a gold response from the
historical till sampling data that covered the mineralization,
leading the Company to conduct various orientation geochemical
surveys over the zone in an attempt to obtain a direct high
contrast gold response from the mineralized bedrock overlain by
shallow tills. Fury was successful in detecting the gold
mineralization at Percival through biogeochemistry sampling where
spruce branches are collected, ashed and then assayed. Samples were
collected every 50m on two lines spaced 100m apart and gold results
showed a cluster of elevated values over the area of mineralization
(Figure 3). These elevated results demonstrate the effectiveness of
the technique and the Company plans to utilize it in select
structural corridors across the Eau Claire property package to aid
in the development of new drill targets (Figure 1).
1 Intervals are presented in core length; holes are
generally planned to intersect mineralization as close to
perpendicular to strike as possible with true widths are estimated
to be 75% to 85% of downhole length when hole and dips of the
mineralized horizons are considered. Assay presented is not capped.
Intercept occurs within geological confines of major zones but have
not been correlated to individual structures/horizons within these
zones at this time. Vertical depths are 35m and 65m for ER18-822
and ER18-823, respectively, and they are measured from the surface
to the mid-point of the reported interval. Refer to Eastmain
Resources news release dated November 13, 2018 on
www.sedar.com
for more
information.
2021 Regional Exploration Plans
Fury
plans to conduct an extensive biogeochemistry program across the
Eau Claire property with the goal of developing new drill targets
in 2021. In conjunction with the geochemical surveys, ground-based
induced polarization geophysical surveys are planned along the
Percival trend to fingerprint the geophysical signature of the
mineralization. The Company believes that the sulphide-rich silica
breccia bodies at Percival will image well based on the high
resistivity and chargeability responses and that there will be a
high potential for similar responses along trend from the observed
mineralization.
Figure
1: Eau Claire prospect map and 2021 biogeochemical sampling plan on
reduced to pole magnetics.
Figure
2: Percival Prospect >0.5 g/t gold interpolant with historic
drilling highlights.
Figure
3: Comparison of historic till geochemistry and 2020 biogeochemical
sampling.
David
Rivard, P.Geo, Exploration Manager at Fury, is the Qualified Person
who assumes responsibility for the technical disclosures in this
press release.
Biogeochemical Samples
Biogeochemical
samples were taken by collecting of approximately 200 grams of
black spruce twigs and sent to ALS Lab in Vancouver, BC (ISO/IEC
17025:2017 and ISO 9001:2015 accredited facility) for preparation
and analysis. Preparation included drying, separation needles from
twigs and ashing of needles only at 475°C for 24 hours
(VEG-ASH01). Ashed samples are analyzed for 65 elements using
nitric/hydrochloric acid digestion with ICP-MS finish (ME-VEG41a).
QA/QC programs using lab duplicates, standards and blanks indicate
good accuracy.
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 programs at its Eau Claire property
and specifically, along the Percival trend; 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
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.