Fury Drills 13.5 Metres of 8.05 g/t Gold at Percival
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Fury Drills 13.5 Metres of 8.05 g/t Gold at Percival
Vancouver, Canada – December 21, 2022 – Fury Gold Mines Limited (TSX: FURY, NYSE
American: FURY) (“Fury” or the “Company”) is pleased to announce results for eight core drill holes
at the Percival Main and Percival East prospects, located 14 kilometres (km) east of the Eau Claire deposit
in the Eeyou Istchee James Bay Territory of Quebec (Figure 1). Five of the drill holes targeted the
westerly down plunge extension of the historical Percival mineralization (Figure 1). The results from the
2022 diamond drilling program confirm that the high-grade core of the Percival mineralization plunges
steeply to the west and remains open in all directions. Highlights included an 85 metre (m) step out from
historical high -grade mineralization which intercepted 13.5m of 8.05 g/t gold (Au), (including
3.00m of 25.8 g/t Au) in drill hole 22KP-008 and a 150m step out which intercepted 7.5m of 4.38
g/t Au, (including 3m of 8.7 g/t Au, and 3m of 5.5 g/t Au) in drill hole 22KP-005 (Figures 1, 2
and 3). Drilling results are presented below in Table 1.
“The Percival Prospect has been an important target for Fury as we believe it is considerably
underexplored and has a lot of room to expand. The recent drill results further support our goal of
identifying opportunities to advance our overall ounces at Eau Claire, ” commented Tim Clark, CEO of
Fury. “ The Hinge Target, Gap Zone, and now Percival Prospect targets have all demonstrated the
potential for considerable expansion and we are still looking forward to the remaining three holes from
the Hinge Target and eastern extension as well as the results from the Geochem survey completed at
our Lac Clarkie project which are expected in the coming weeks.”
Percival Prospect
The Percival Prospect is situated along the Cannard Deformation zone which is the primary control over
gold mineralization within the region hosting the Eau Claire deposit and numerous gold showings along
30km of strike length contained within the Company’s 100% owned land package. The Percival gold
mineralization is currently represented by a 500m by 100m surface footprint with high-grade gold being
defined to 300m below surface (Figures 1, 2 and 3). The Percival Prospect is hosted within folded
sulphidized and silicified breccia bodies (Figure 4) and represents one of 15 targets along the Percival
trend (Figure 5).
Fury recognized that the high -grade core of the Percival mineralization , represented by historical drill
intercepts of 9.0m of 6.26 g/t gold, 8.5m of 7.13 g/t gold, and 2.0m of 8.47 g/t gold (Figure 1) (see
news release dated February 10, 2021 ), was parallel and slightly offset to magnetic stratigraphic units
that define a steep westerly plunging fold hinge. Targeting of the fold hinge geometry has significantly
expanded the Percival mineralized footprint with intercepts of 13.5m of 8.05 g/t Au, including 3m of
25.8 g/t Au from drill hole 22KP-008; 7.5m of 4.38 g/t Au, including 3m of 8.7 g/t Au from drill hole
22KP-005 and; 9.5m of 2.73 g/t Au including 1.5m of 8.57 g/t Au from drill hole 22KP-006 (Figures 2
and 3). Based on these positive results, the Company is currently planning a second phase of drilling at
Percival with the objective of significantly expanding high-grade mineralization down plunge and to the
west (Figure 1).
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The Company tested the Percival East prospect representing a parallel fold hinge 500m to the east of
the Percival Main drilling. All three holes intercepted wide zones, up to 50m, of silicified breccia with
sulphide mineralization that looked very similar to the gold mineralization at Percival Main (Fig ure 6).
Broad low-grade zones of gold mineralization were encountered in two of the three drill holes, including
15.0m of 0.24 g/t Au from drill hole 22KP -001 and 7.0m of 0.25 g/t Au from drill 22KP -002. Fury’s
technical team believes the presence of extensive silicified breccia together with anomalous gold
demonstrates that the hydrothermal system persists to the east and that the remaining fourteen
biogeochemical targets (see news release dated January 26, 2022), represent excellent opportunities to
discover additional mineralized bodies.
Table 1: Percival Main Drill Results
Hole ID From To Length (m) Au (g/t)
22KP-004
331.5 336 4.5 1.60
378 381 3 2.32
397.5 399 1.5 3.19
429 430.5 1.5 2.86
441 442.5 1.5 3.14
22KP-005
358.5 366 7.5 4.38
Incl. 360 363 3 8.74
379.5 382.5 3 1.87
408 409.5 1.5 2.33
469.5 472.5 3 5.51
Incl. 469.5 471 1.5 9.23
22KP-006
223.5 226.5 3 2.85
328 337.5 9.5 2.73
Incl. 330 331.5 1.5 8.57
22KP-007 63 66 3 2.26
22KP-008
234 247.5 13.5 8.05
Incl. 237 240 3 25.80
258 259.5 1.5 3.33
382.5 385.5 3 2.72
393 394.5 1.5 3.34
Main intervals - Au grade*thickness no less than 2 g/t*m with grade is no less than 1 g/t, maximum consecutive dilution 2m.
Sub-intervals - Au grade*thickness no less than 7g/t*m with grade is no less than 3.5g/t, maximum consecutive dilution 2m. Lengths
for exploration drilling are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.
“We have confirmed the hypothesis of a steeply plunging fold hinge as a primary control on high-grade
at Percival with three out of the five drill holes intercepting significant gold grades across widths of up
to 13.5m within 300m of surface. We look forward to further exploration at Percival Main as well as at
the remaining 14 priority biogeochemical anomalies along the Percival trend , as our understanding of
the significance of the regional Cannard Deformation Zone increases ,” stated Bryan Atkinson, SVP,
Exploration of Fury.
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Figure 1: Percival long section depicting the locations of the recent drill holes in relation to the historical drilling
along a steeply west plunging fold.
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Figure 2: Percival cross section of drill hole 22KP-008, the westernmost drill hole targeting the down plunge
extension high-grade gold mineralization.
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Figure 3: Percival cross section of drill hole 22KP-005 and 22KP-007 depicting the 150m extension of high-grade
mineralization which remains open down plunge.
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Figure 4: Core photo from 22KP-008 depicting the strong silicification and abundant sulphides typical of the
Percival style of mineralization.
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Figure 5: Plan view of the Percival Trend depicting the 2022 and select historical drilling intercepts at Percival
Main along with the 14 untested geochemical anomalies.
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Figure 6: Comparison of gold bearing silicified breccias from Percival Main on the left and barren to weakly
anomalous silicified breccias from Percival East on the right.
Sampling and Assaying Disclosure
Analytical samples for the Drill Program were taken by sawing HQ diameter core into equal halves on
site with one half sent to ALS Chemex in Val D’or, Q uebec, Canada for preparation and analysis. All
samples were assayed using a 50 g nominal weight fire assay with inductively coupled plasma – atomic
emission spectrometry finish (Au -ICP22) and multi -element four acid digest ICP -AES/ICP-MS method
(ME-MS61). Where Au-ICP22 results were greater than 0.5 ppm Au the assay was repeated with a 50 g
nominal weight fire assay with atomic absorption finish (Au-AA24). Samples containing more than 5 ppm
by Au-AA24 were re-assayed with 50 g nominal weight fire assay with gravimetric finish (Au -GRA22).
QA/QC programs using internal standard samples, field and lab duplicate s and blanks indicate good
overall accuracy and precision.
David Rivard, P.Geo, Exploration Manager at Fury, is a "qualified person" within the meaning of Canadian
mineral projects disclosure standards instrument 43-101 and has reviewed and approved the te chnical
disclosures in this press release.
About Fury Gold Mines Limited
Fury Gold Mines Limited is a well-financed Canadian-focused exploration company positioned in two
prolific mining regions across the country and holds a 59.5 million common share position in Dolly Varden
Silver Corp (25.8%). Led by a management team and board of directors with proven success in financing
and advancing exploration assets, Fury intends to grow its multi -million-ounce gold platfo rm through
rigorous project evaluation and exploration excellence. Fury is committed to upholding the highest