Fury Drills Multiple Zones of High-Grade Gold at the Hinge Target including 22.77 g/t Gold over 1.5 Metres
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Fury Drills Multiple Zones of High-Grade Gold at the Hinge Target including
22.77 g/t Gold over 1.5 Metres
Vancouver, Canada – January 23, 2023 – Fury Gold Mines Limited (TSX: FURY, NYSE American: FURY) (“Fury” or
the “Company”) is pleased to provide results for the final three 2022 c ore drill holes at the Eau Claire project
located in the Eeyou Istchee Territory in the James Bay region of Quebec . The 2022 d rill program successfully
expanded the high-grade gold mineralized footprint at the Hinge Target, Gap Zone, and eastern expansion target
areas. To date, the eleven holes drilled into the Hinge Target have had a hit rat e of nearly 55% above the Eau
Claire underground measured and indicated resource grade of 6.3 g/t gold and over 80% above the underground
cut-off grade of 2.5 g/t gold. Collectively, these results have provided a clear focus for deposit expansion moving
forward into 2023.
Drill hole 22EC-059 was drilled oblique to all other drilling at the Hinge Target (at an angle of 150 degrees) and
provides confirmation of the current geological interpretation. The hole intercepted eight zones of gold
mineralization across 350 metres (m) drilled width including 1.50m of 22.77 g/t gold, 1.50m of 15.30 g/t gold and
1.50m of 6.46 g/t gold (Table 1). The reported intercepts extend the gold mineralization and represent a 100m
offset to the west and 150m vertical offset of the defined shallow 850 Zone within the Hinge Target. Notably, the
reported intercept of 1.50m of 22.77 g/t gold at a downhole depth of 181.5m, approximately 155m below surface,
is one of the shallowest high-grade intercepts to date within the Hinge Target zone.
“Fury is pleased to announce the final drill results from our 2022 drill program at Eau Claire, as these results
further confirm our thesis that the Eau Claire resource is open for significant expansion. Importantly, we have
extended the mineralized footprint of t he resource at the Hinge Target, Gap Zone, and eastern expansion, and
have intercepted substantial gold grades at the Percival Main zone, located 14 km from Eau Claire, which warrant
follow-up work,” commented Tim Clark, CEO of Fury. “The results of our pr ogram at Eau Claire are extremely
encouraging and our 2023 plans are being reviewed and will be announced in the coming weeks.”
Western Hinge Target
Fury’s updated geological interpretation of the controls on mineralization within the Eau Claire resource has led
to a focus on the fold geometry at the Hinge Target resulting in an overall increase of approximately 25% to the
mineralized footprint (Figure 1). Drill holes 22EC-059 were designed to drill perpendicular to the apex of the fold
hinge to test a series of vertically oriented veins , related to folding, as well as to expand upon shallow 850 Zone
mineralization within 150 meters of surface. The Hinge target remains open to the west as well as up dip and
down dip.
Table 1: Eau Claire Drill Results
Location Hole ID From To Length (m) Au g/t
Hinge Target 22EC-059
123 124 1.00 9.36
181.5 183 1.50 22.77
258 259.5 1.50 6.46
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311 312.5 1.50 1.97
371 372.5 1.50 1.91
380 381.5 1.50 15.30
463 465 2.00 2.96
468.5 471.5 3.00 1.64
East Expansion
22EC-060
97.5 99 1.50 1.81
637 639.5 2.50 3.91
649.5 650.5 1.00 3.66
22EC-061
194 195 1.00 2.07
501 502.5 1.50 3.65
581 582.5 1.50 3.06
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. Lengths for exploration
drilling are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.
Resource Expansion Drilling to the East
The 2022 eastern expansion drill program was designed to test for continuity between defined resource blocks
along the southeastern margin of the Eau Claire deposit where the Company intercepted significant high-grade
gold results from limited 2021 drilling of 23.27 g/t gold over 7.09m, 11.56 g/t gold over 6.04m (see news releases
dated May 25, 2021 and March 1, 2021). All six drill holes completed in 2022 intercepted quartz tourmaline veining
with associated alteration and include the following intercepts: 2.50m of 3.91 g/t gold from 22EC-060 and 1.50m
of 3.65 g/t gold from 22EC -061 (Table 1 and Figure 1). The intercepts extend mineralization 65m and 75m
respectively confirming the dip continuity of the defined mineralization along the southeast margin of the Eau
Claire deposit.
“With every drill hole completed into the Hinge Target, we are increasing our understanding both of the controls
on mineralization as well as the potential scale. The 55% hit rate in the Hinge Target above resource grade exceeds
the hit rate within the Eau Claire deposit of 35% and gives us confidence that the deposit can be expanded to the
west,” stated Bryan Atkinson, SVP, Exploration of Fury.
Additionally, the Company is announcing that it has engaged with Native Ads Inc. (“Native Ads”), a firm of digital
media experts, to execute a comprehensive digital media marketing campaign supporting Fury’s ongoing eff orts
to increase awareness. This comprehensive advertising program is designed to build brand familiarity, general
recognition and raise awareness within online investor content platforms. Native Ads will employ state-of-the-art
advertising, paid distribut ion, media buying and content creation to execute this important initiative. Financial
terms of the agreement were not released but are customary and non-material.
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Figure 1: Eau Claire Deposit long section area illustrating the resource block model and locations of the recent Hinge Target
drill holes, towards the west.
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Figure 2: Illustrates the intercepts at the western Fold Hinge Target at the Eau Claire deposit.
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Figure 3: Illustrates the intercepts at the eastern expansion Target at the Eau Claire deposit.
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, Quebec, 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 w eight 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
duplicates 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 technical 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
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(23.5%). 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 platform through rigorous project evaluation
and exploration excellence. Fury is committed to upholding the highest industry standards for corporate
governance, environmental stewardship, community engagement and sustainable mining. For more information
on Fury Gold Mines, visit www.furygoldmines.com.
For further information on Fury Gold Mines Limited, please contact:
Margaux Villalpando, Investor Relations
Tel: (844) 601-0841
Email: [email protected]
Website: www.furygoldmines.com
Forward-Looking Information and Additional Cautionary Language
This release includes certain statements that may be deemed to be "forward -looking information" or "forward-
looking statements" within the meaning of applicable securities laws, which relate to the future operations of the
Company and other statements that are not historical facts. Forward-looking information contained in this release
primarily relates to statements that suggest that future work at Eau Claire will potentially increase or upgrade the
estimated gold resources.
Although the Company believes that the assumptions and expectations reflected in those forward -looking
statements were reasonable at the time such statements were made, there can be no assurance that such
assumptions and expectations will prove to be correct. Exploration is a high-risk enterprise.
Readers should refer to the risks discussed in the Company's Annual Information Form and MD&A for the year
ended December 31, 2021 and subsequent continuous disclosure filings with the Canadian Securities
Administrators available at www.sedar.com and the Company's Annual Report including the Base Shelf Prospectus
available at www.sec.gov. Readers should not place heavy reliance on forward -looking information, which
inherently can only as of the date made.
Cautionary Note to United States Investors Concerning Estimates of Mineral Disclosure
The mining and technical disclosure throughout this release is made in accordance with applicable Canadian law
and the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM"). The Company's
descriptions of its projects using applicable CIM terminology, which includes defined terms such as inferred,
measured or indicated resources, may not be comparable to similar information about resource grades that would
be made public by U.S. companies which are subject to the reporting and disclosure requirements under the
United States federal securities laws.