Fury Finalizes Six Éléonore Style Drill Targets at the Éléonore South Gold Project
Fury Gold Mines Limited
Suite 601, 34 King St. East, Toronto, ON, Canada M5C 2X8
TSX: FURY NYSE American: FURY
www.furygoldmines.com
Fury Finalizes Six Éléonore Style Drill Targets at the Éléonore
South Gold Project
TORONTO, Canada – November 12, 2024 – Fury Gold Mines Limited (TSX and NYSE American:
FURY) (“Fury” or the “Company”) is pleased to announce that it has finalized drill targeting after
completing a surficial geochemical survey at the Éléonore South gold project located in the Eeyou
Istchee Territory in the James Bay region of Quebec . Drilling will target robust geochemical gold
anomalies within the same sedimentary rock package that hosts Newmont’s Éléonore Mine. The
completed biogeochemical sampling survey covered an interpreted fold nose within the Low
Formation sediments where an orientation level study identified a large-scale gold anomaly in a
similar geological, geophysical, and structural setting to that of the nearby Éléonore Mine (see news
release dated March 5, 2024 ). Six priority drill targets across over 3 kilomet res (km) of prospective
folded sedimentary stratigraphy have been identified (Figure 1). These six targets encompass multi
point gold anomalies above the 90 th percentile of the data and correlate with moderate pathfinder
elemental anomalies, most notably arsenic which is associated with gold mineralization at the
Éléonore Mine. The Company intends to mobilize crews in Q1 2025 for an initial fully funded 3,000 –
5,000 metre (m) diamond drilling program.
"Since acquiring 100% ownership of the Éléonore South joint venture earlier this year from Newmont,
the Éléonore style anomaly has been at the top of our prospective list," commented Tim Clark, CEO of
Fury. "Given the size, scale, and proximity to Newmont's Éléonore Mine, we believe any success could
create potential upside for investors and thus we are excited to commence drilling in Q1 of 2025."
Éléonore South Project
The Éléonore South project is strategically located in an area of prolific gold mineralization with
Newmont’s Éléonore Mine to the north and Sirios’ Cheechoo Deposit to the east (Figure 1 inset). Two
distinct styles of mineralization have been identified to date : structurally controlled quartz veins
hosted within sedimentary rocks similar to the high -grade mineralization observed at the Éléonore
Mine (Table 1); and intrusion-related disseminated gold mineralization similar to that seen at the low-
grade bulk tonnage Cheechoo Deposit with higher grade potential as seen at the JT and Moni
prospects on the project.
A total of 2,106 biogeochemical samples were collected at 50 m intervals along 100 m spaced north-
south oriented survey lines covering an area of 4.2 x 1.9 km. The survey was designed to infill on
anomalies identified in an orientation level survey announced earlier this year as well as to test the
core of the interpreted fold. The geophysical magnetic data paired with Fury’s updated geological
model show the six target areas lie within the core of an east plunging regional scale fold nose. The
Fury Gold Mines Limited
Suite 601, 34 King St. East, Toronto, ON, Canada M5C 2X8
TSX: FURY NYSE American: FURY
www.furygoldmines.com
target gold anomalies highlight discrete secondary fold structures identifiable a t the edges of
magnetic highs (Figure 1). Pristine gold grains, from historical work in the area, were identified down
ice from the targets. These gold grains were interpreted to be near to source with minimal transport
likely ruling out currently known bedrock gold source in the project area adding further weight to the
prospectivity of the biogeochemical gold targets (Figure 1).
Table 1: Regional styles of gold mineralization
Category Éléonore Style
Mineralization Quartz-diopside-tourmaline-sulphide veins and stockwork. Silica-carbonate-
diopside-actinolite-phlogopite alteration.
Geometry 5-6 m, up to 20 m wide
Geology Massive to thinly bedded wacke, pelite, conglomerate. Pegmatites.
Structure Folded stratigraphy, strong strain zones
Geochem Au-As
Geophysics Chargeability highs associated with mineralization
Analogues Éléonore
(32.6Mt @ 7.8g/t Au)
Fury Gold Mines Limited
Suite 601, 34 King St. East, Toronto, ON, Canada M5C 2X8
TSX: FURY NYSE American: FURY
www.furygoldmines.com
Figure 1: Location of the six Éléonore style drill targets on magnetic susceptibility background at the
Éléonore South Project.
“We have identified six robust drill-ready targets through the combination of geology, geophysics,
recent geochemistry as well as combing through historical geochemical survey data. Pairing our
targeting matrix with our team’s past experience working at the Éléonore Mine has given us a high
confidence level as we have moved this target from conceptual through the pipeline to being drill
ready,” commented Bryan Atkinson, P.Geol., SVP Exploration of Fury.
Biogeochemical Sampling
Biogeochemical samples were taken by collecting approximately 200 grams of black spruce twigs
and sent to ALS Lab in Vancouver, BC (ISO/IEC 17025:2017 and ISO 9001:2015 accredited facility)
for preparation and analysis. Preparation included drying, separation of needles from twigs and ashing
of needles only at 475°C for 24 hours (VEG -ASH01). Ashed samples are analyzed for 65 elements
using nitric/hydrochloric acid digestion with ICP-MS finish (ME-VEG41a). QA/QC programs using lab
duplicates, standards, and blanks indicate good accuracy.
Fury Gold Mines Limited
Suite 601, 34 King St. East, Toronto, ON, Canada M5C 2X8
TSX: FURY NYSE American: FURY
www.furygoldmines.com
*The Company notes that in the March 5, 2024 biogeochemical news release Figure 1, gold values
were inadvertently displayed as mixed ppb and ppt. They have been corrected above.
Valérie Doyon, P.Geo, Senior Project Geologist 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 Canada and holds a 5 1 million common share position in Dolly Varden
Silver Corp (16.25% of issued shares). 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 committ ed to
upholding the highest industry st andards 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, Manager Investor Relations
Tel: (844) 601-0841
Email: [email protected]
Website: www.furygoldmines.com
Forward-Looking Statements and Additional Cautionary Language
This release includes certain statements that may be deemed to be "forward -looking statements"
within the meaning of applicable securities laws, which statements relate to the future exploration
operations of the Company and may include other statements that are not historical facts. Forward -
looking statements contained in this release primarily relate to statements that suggest that the future
work at Éléonore South will potentially increase or upgrade the 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 certainty
that such assumptions and expectations will prove to be mater ially correct. Mineral 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, 202 3 and subsequent continuous disclosure filings with the Canadian
Securities Administrators available at www.sedarplus.ca and the Company's Annual Report available
at www.sec.gov. Readers should not place heavy reliance on forward -looking information, which is
inherently uncertain.