Fury Gold drills 5.75 g/t gold over 4 metres at Eau Claire, Quebec

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Fury Gold Mines Ltd. [FURY-TSX, NYSE American] reported results for six core drill holes at the 100%-owned Eau Claire project located in the Eeyou Istchee Territory in the James Bay region approximately 800 km north of Montreal and 350 km northwest of Chibougamau, Quebec. Drilling to date has tested five target areas at the Eau Claire deposit, significantly expanding the mineralized footprint.

Drill holes 22EC-049 and 22EC-055 currently represent the western most drill holes and have extended gold mineralization a further 125 metres from the multiple high-grade zones of gold mineralization from drill hole 22EC-048 within the Hinge Target.

Drill hole 22EC-055 intercepted eight zones of mineralization across a drilled width of 290 metres, including 4.0 metres of 5.75 g/t gold, 1.0 metre of 9.81 g/t gold and 3.0 metres of 1.93 g/t gold and drill hole 22EC-049 intercepted six zones of gold mineralization across 350 metres drilled width including 1.0 metres of 21.40 g/t gold and 4.50 metres of 1.09 g/t gold. The multiple stacked zones of gold mineralization encountered at the Hinge Target clearly demonstrate that the Eau Claire gold resource remains open to the west and has the potential to be expanded significantly with approximately a 25% increase to the mineralized footprint realized to date.

“The Hinge Target continues to expand gold mineralization at the Eau Claire deposit which remains open for considerable expansion,” commented Tim Clark, CEO. “We are looking forward to the remaining 14 holes from the Percival Target, the North Limb, the eastern extension, the Gap Zone, and the Hinge Target, which are pending assay and expected prior to year-end. Although assay times have been slow across the industry, the Company is in a strong financial position with over C$12.5m in our treasury, 50% of drill results pending from this summer’s drill program, and extensive surface exploration results from across the Eau Claire land position.”

Western Hinge Target: Fury’s recognition of the importance of the fold geometry at the Hinge Target paired with the newly recognized stratigraphic control to the Eau Claire gold mineralization has led to an overall increase of 455 metres or approximately 25% to the overall mineralized footprint of the deposit.

Drill holes 22EC-054 and 22EC-055 were designed to further target the apex of the fold that was first identified in drill hole 22EC-048, where four zones of high grade and multiple zones of broad widths at moderate grade were intercepted, including 3.50 metres of 4.79 g/t gold, 1.00 metre of 14.19 g/t gold, 3.50 metres of 5.86 g/t gold, 1.00 metre of 20.6 g/t gold and 17.50 metres of 1.29 g/t gold.

Both holes intercepted multiple zones of gold mineralization with drill hole 22EC-055 successfully targeting the apex of the fold, where the strong alteration and higher vein density are closely associated with the highest fluid flow, concentrated by the Hinge Target geometry. These results have further extended the shallow 850 zone and the deeper 450 zone of mineralization by 450 metres with both zones remaining open to the west.

North Limb Target: The entire Eau Claire gold deposit is currently known to be hosted in the southern limb of an anticline where east-west oriented shearing intercepts favourable stratigraphy. The north limb of the anticline, where parallel shear zones crosscut the same favorable volcanic stratigraphy hosting the Eau Claire deposit, remained mostly unexplored.

Gap Zone 1: The recognition of the stratigraphic controls on the Eau Claire resource has opened up the westerly continuation of the 450 zone, historically referred to as the Gap Zone, as a highly prospective target. Historical drilling outside of the defined resource intercepted gold mineralization hosted in quartz tourmaline veining (preferred horizon) including 0.5 metres of 14.23 g/t gold, and 0.5 metres of 9.99 g/t gold. Fury completed three drill holes targeting the Gap Zone, all of which have intercepted zones of alteration and/or quartz tourmaline veining. Results are pending.

“We have now stepped out over 450 metres from the defined Eau Claire resource and have yet to find the limits of the mineralized system. The similarities of the Hinge Target and the defined Eau Claire resource are encouraging and indicate that further drilling may potentially lead to a substantial increase in defined gold ounce resources. The current 450-metre extension of the mineralized footprint to the west, which remains open, has validated our interpretation and targeting at Eau Claire, as we analyze and target potential additional drilling along this compelling target,” stated Bryan Atkinson, SVP, Exploration.

Currently, there is one completed hole pending assay results from the Hinge Target, three pending from the Gap Zone, two from the eastern extension and eight from Percival.


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