Fury Gold Mines identifies 'numerous high quality' exploration targets at Eau Claire project, Quebec

Fury Gold Mines Ltd (TSE:FURY) (NYSEAMERICAN:FURY) (FRA:AUN) said it had re-interpreted a host of exploration data at its Eau Claire project in Quebec, including at the Percival prospect, ahead of potentially drilling the best targets later this year. 

“During the summer, Fury plans to advance the newly identified targets through multi-element geochemical surveys, geological mapping, and potentially ground-based induced polarization geophysical surveys with the aim of drilling the most robust targets during Q4 2021,” the company told investors. 

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

The targets have been refined through reinterpreting airborne magnetic and electromagnetic surveys and associated 3D inversions.

“In reviewing 25 years of historical data, we have realized a number of opportunities to improve the exploration vectors,” said Michael Henrichsen, the senior vice-president (SVP) of exploration.

“We believe that a more detailed geological framework in conjunction with robust geochemical surveys will lead to high-quality drill targets for the winter drill season.”

Notably, Fury said it will conduct new geochemistry surveys over each of the target area because historical data had “inconsistencies in sample collection procedures, material sampled and analytical techniques”.

At the Percival prospect, which was discovered in 2018, an updated interpretation shows that high-grade mineralization is parallel to highly magnetic bodies representing a steeply plunging fold, added the firm.

“Based on recently completed 3D inversions of airborne magnetic data, there is the potential to extend high-grade mineralization up to 500 metres (m) down plunge from historical intercepts of 8.5m of 7.13 g/t gold, 9m of 6.26 g/t gold, and 2m of 8.47 g/t gold.

“In addition, the company has identified a new parallel steeply plunging fold approximately 500m to the east of the known mineralization that has not been drill tested.”

Fury said it planned to conducted ground-based geophysical induced polarization (IP) surveys to further refine the targeting at Percival.

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

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