14 July 2021
TORONTO, ON / ACCESSWIRE / July 14, 2021 / Fury Gold Mines Limited (TSX:FURY)(NYSE American:FURY) ("Fury" or the "Company") is pleased to announce that it has commenced drilling at its Committee Bay project in the Kitikmeot region of Nunavut. Fury controls a 270,000-hectare land position, which is situated across a 300-kilometre (km) greenstone belt, with multiple high-grade target centres. The Company's 5,000-metre (m) drill program is designed to expand the defined high-grade mineralization at the Raven prospect, which has historical drill intercepts of 2.8m of 31.1 g/t gold and 5.49m of 12.6 g/t gold [1], and test the potential below the current resource at the Three Bluffs deposit. Fury also plans to conduct surface exploration work at five targets located in the southern half of the belt to advance them to drill stage (Figure 1).
"Committee Bay represents a potential major gold exploration opportunity in Nunavut where some of the largest global gold discoveries have been made," commented Mike Timmins, President and CEO. "This year's high impact exploration plan has been designed to test significant extensions of high-grade mineralization at both Raven and Three Bluffs, as well as advance several high priority targets on the belt to drill stage. We are very excited about this year's program as Raven has some of the best historic drill results on the entire greenstone belt and sits on a mineralized 8km shear zone."
Raven Prospect Overview
The Raven prospect is located in the southwest third of the Committee Bay gold belt approximately 40km west of the Three Bluffs deposit (Figure 1). It is situated along an 8km long shear zone where defined gold mineralization occurs in quartz-arsenopyrite veins in highly sheared gabbros and mafic volcanic rocks over a strike length of approximately 1.2km (Figures 2 and 3). Raven has a total of nine historical drill holes totaling 1,670m over a drilled strike length of 400m. The drilling has defined a high-grade body of mineralization approximately 250m in length, with a 30-degree plunge to the east that is open along strike and down dip (Figure 3).
Fury plans to drill the Raven prospect through aggressive step outs up to 500m down plunge from historical drilling to demonstrate the scale of the system and to explore the entire length of the 8km shear zone to define new targets through systematic till sampling and geological mapping.
Three Bluffs Deposit Expansion Drilling
The Three Bluffs deposit is a high-grade resource defined by 524,000 oz. at 7.85 g/t gold in the indicated category and 720,000 oz. at 7.64 g/t gold in the inferred category[2]. High-grade mineralization at the deposit is associated with high conductivity responses due to the intense sulphidization of the banded iron formation. Fury's primary target at the deposit is a conductive body that measures 600m by 200m at a vertical depth of between 300m and 500m (Figure 4). The target is down dip from high-grade mineralization and offsets the following historical drill intersections: 5m of 40.6 g/t gold, 5.3m of 29.03 g/t gold, 11m of 16.23 g/t gold, 5m of 15.2 g/t gold, 2m of 21.81 g/t gold and 2m of 19.38 g/t gold[3]. The Company plans to drill across the entire conductivity body to demonstrate the potential for resource growth at the deposit.
"We are excited to drill for scale at the Raven prospect to demonstrate the true size potential of this early staged discovery within 50km of the Three Bluffs deposit. The technical team is also looking forward to advancing a number of regional targets to drill stage this summer in preparation for the 2022 exploration season," stated Michael Henrichsen, SVP, Exploration.