Fury Gold drills 10 metres of 13.93 g/t gold at Committee Bay, Nunavut
Fury Gold Mines Ltd. [FURY-TSX, NYSE American] reported results from the Three Bluffs deposit expansion drilling at its 100%-owned Committee Bay project 300 km northeast of Baker Lake in the Kitikmeot region of Nunavut.
Drill hole 21TB-152 was drilled 120 metres downdip from the currently defined resource at Three Bluffs targeting a prominent geophysical conductor. The hole intersected three discrete zones of high-grade gold mineralization over a 30 metres drill width, including 10.0 metres of 13.93 g/t gold, 3.0 metres of 18.67 g/t gold and 1.0 metre of 23.2 g/t gold.
Importantly, these intercepts are associated with a deformation zone within a metasediment unit that was not expected to be encountered in this location. These intercepts likely significantly increase the resource expansion potential in the western region of the deposit. The balance of the company’s 2,600 metres summer drill program also included four holes at the Raven target where results are still pending.
“These are the best drill results the project has seen in five years and they represent a very exciting achievement for the Committee Bay project. Importantly, the high-grade hole opens up considerable expansion opportunities and confirms that Committee Bay represents a major gold exploration opportunity. We look forward to continuing exploration and pursuing the significant expansion opportunities identified by hole 21TB-152 at Three Bluffs,” commented Tim Clark, CEO.
Michael Henrichsen, senior vice-president, exploration, said, “We are very pleased to have encountered these somewhat unanticipated high-grade intercepts from the metasediments in this area of the deposit in contrast to the more typical sulphide banded iron mineralization that makes up the bulk of the current resource. We plan to aggressively pursue this emerging style of mineralization given that it has been underexplored to date and could quickly change the growth trajectory of this gold resource.”
The Three Bluffs deposit is a high-grade resource defined by 524,000 ounces at 7.85 g/t gold in the Indicated category and 720,000 oz at 7.64 g/t gold Inferred. High-grade mineralization at the deposit is associated with two distinct styles of mineralization; intense sulphidization and silicification of banded iron formation as well as within sericite-altered highly sheared metasediments.