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Fury Gold Mines hits fifth best drill intercept to date at Eau Claire, showing potential to expand resource to east

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Fury Gold Mines Ltd (TSE:FURY) (NYSEAMERICAN:FURY) (FRA:AUN) has reported more encouraging drill results from its Eau Claire deposit in Quebec, including the fifth-best hole so far from 900 holes sunk at the asset. 

One hole hit 23.27 grams per ton (g/t) of gold over a width of 7.09 metres (m) from a depth of 319m in the southeast margin of the defined resource. 

READ: Fury Gold Mines encouraged by drilling at Snake Lake at Eau Claire project, Quebec

This result showed the potential to significantly expand the resource down plunge to the east, where drilling will now continue, said the company.

“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,” said Mike Timmins, CEO of Fury in a statement.

“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.”

So far, Fury has sunk four holes targeting the eastern extension of the lower eastern margin of the resource at Eau Claire, which currently stands at 204,000 ounces at 11.81 g/t gold, with a 2.5 g/t cut-off grade.

Three of the holes hit high-grade results, including 11.56 g/t gold over an intercept of 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.

Michael Henrichsen, senior vice-president of exploration at Fury, added: “The exploration program is tracking well with our first 12 drill holes east of the deposit demonstrating the expansion potential 700 metres down plunge.”

Earlier in May 2021, the company posted encouraging results from Eau Claire, which expanded the Snake Lake structure, which sits 1 kilometre (km) east of the known resource. One hole hit 94.1 g/t gold over 0.5m, which extended high-grade mineralization 840m down dip.

“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,” added Henrichsen.

Fury Gold Mines is a Canadian-focused explorer, positioned in three prolific mining regions across the country.

Contact the author at [email protected]

Story by ProactiveInvestors


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