Fury Enhances Drill Targeting at the Percival Prospect with Completion of Ground Geophysical Survey
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Fury Enhances Drill Targeting at the Percival Prospect with Completion of
Ground Geophysical Survey
VANCOUVER, Canada – May 16, 2022 – Fury Gold Mines Limited (TSX: FURY, NYSE American:
FURY) (“Fury” or the “Company”) is pleased to announce the completion of a 29 line-kilometre (km)
Induced Polarization (IP) ground geophysical survey at the high-grade Percival prospect within the Eau
Claire project located in the Eeyou Istchee Territory in the James Bay region of Quebec . The
mineralization at Percival has a clear resistivity signature and the survey has identified a number of
similar resistivity anomalies that coincide with biogeochemistry gold and trace element anomalies over a
6.5-kilometre strike length (Figure 1). The survey covered eight of the fifteen previously announced
biogeochemical targets along the Percival trend. This newly acquired data is being incorporated into the
final drill targeting for the upcoming summer 2022 drill program at Percival.
The survey identified discrete coincident resistivity and conductivity anomalies which correspond with
the sulphide-rich silica breccia gold-bearing bodies at Percival.
“Percival is one of our larger targets that has had great historic success , however, it is highly
underexplored,” said Tim Clark, CEO of Fury. “It was extremely encouraging to receive the following IP
geophysical survey results ahead of our planned drilling commencing in early June. We are excited to be
drilling again and look forward to the continuous results from both our Eau Claire and Percival targets
throughout this summer and fall.”
“We are excited to have been able to better fingerprint the Percival mineralization through IP geophysics
and to be able to refine our targeting ahead of the upcoming drilling campaign. Additionally, new target
styles are becoming apparent outside of the Percival stratigraphy where we have IP conductivity and
resistivity anomalies paired with biogeochemical anomalies along a previously unrecognized structural
trend,” stated Bryan Atkinson, SVP Exploration of Fury.
IP Survey Details
The Percival prospect, located 14km east of the Eau Claire deposit, is currently represented by a 400
metre (m) by 100m mineralized footprint hosted within folded sulphidized and silicified breccias in an
interbedded volcanic and sedimentary sequence represented by historical drill intercepts of 93.1m
of 2.22 g/t gold, 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.
The IP survey methodology is useful for fingerprinting the sulphide rich silica dominant Percival style of
mineralization (Figure 3), by identifying the resistive silicified units coinciding with a highly conductive,
response due to the high sulphides content. In the western portion of the survey iron formation in close
proximity to highly conductive graphitic shales obscure the condu ctivity signature associated with the
sulphide mineralization at Percival prospect, however, the mineralization is imaged as relative conductive
lows adjacent to the graphitic shales (Figure 2). In the eastern portion of the grid, these graphitic shales
are less prevalent, and the IP survey has defined a number of coincident resistivity and conductivity
highs that the Company plans on evaluating and advancing to drill stage.
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The IP survey also confirmed the presence of NW / SE structures that appear to be an important control
on mineralization observed at the Percival prospect. This structural trend coincides with a number of
biogeochemistry anomalies and the technical team interprets these structures as a key component to
concentrating gold mineralization along the Percival trend. This vector was previously derived from the
interpretation of the biogeochemical and magnetics data. This structural trend is parallel to the regional
fold axis that links the Percival and Serendipity prospects (Figure 1).
The IP survey consisted of a total of 28.89 line -km across three distinct areas of the Percival trend
covering eight of the fifteen previously announced biogeochemical targets ( see news release dated
January 26, 2022). Lines ranged from 0.975 to 2.025 km with spacing of 125 to 250 metres (m). The
survey was carried out using a pole-dipole electrode array with a nominal station spacing of 37.5m and
readings ranging from n = 1 to n=20 allowing for a depth of survey of up to 325m.
Figure 1: Plan view of the Percival trend illustrating the IP survey lines resistivity and conductivity anomalies in
relation to the 15 biogeochemical gold anomalies on regional first vertical derivative magnetics.
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Figure 2: Cross Section view of Percival illustrating a resistivity anomaly at the edge of a large conductive body in
a relative low coincident with the 0.25 g/t Au interpolant.
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Figure 3: Characteristics of Percival mineralization.
Technical Disclosure
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 Canadian -focused exploration company positioned in two prolific mining
regions across the country. Led by a management team and board of directors with proven success in
financing and advancing exploration assets, Fury intends to g row 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 sustainabl e mining. For more information on Fury Gold Mines, visit
www.furygoldmines.com.
For further information on Fury Gold Mines Limited, please contact:
Margaux Villalpando
Tel: (778) 729-0600
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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 the IP Survey will
produce drill targets that will potentially increase or upgrade the estimated gold resources at Eau Claire.
There can be no assurance that such statements will prove to be accurate, and actual results and future
events could differ ma terially. 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 fo rward-
looking information, which inherently can only as of the date made.