Fury Identifies Éléonore Style Target at Éléonore South Gold Project
Fury Gold Mines Limited
1630 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
TSX: FURY NYSE American: FURY
www.furygoldmines.com
Fury Identifies Éléonore Style Target at Éléonore South Gold
Project
VANCOUVER, Canada – March 5, 2024 – Fury Gold Mines Limited (TSX and NYSE American: FURY)
(“Fury” or the “Company”) is pleased to announce that it has identified a robust geochemical gold
anomaly within the same sedimentary rock package that hosts Newmont’s Éléonore Mine at the
Éléonore South gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec.
The orientation level biogeochemical sampling survey was designed to target an interpreted fold nose
within the Low Formation sediments in an area where conventional soil or till sampling was not
possible due to the ground conditions. The targeted area exhibited similar geological, geophysical,
and structural characteristics to those present at the nearby Éléonore Mine. The identified anomaly is
up to 200x the background value in gold and outlines the folded sedimentary package (Figure 1). The
Company intends to complete the biogeochemical sampling program in early summer 2024 with the
goal of identifying drill targets for later in 2024.
“We recently acquired 100% ownership of Éléonore South because of the tremendous amount of
potential for new discovery at the project, as well as its strategic location close to a major mining
company,” commented Tim Clark, CEO of Fury. “These geochemical results out of Éléonore South
could be meaningful given the similar style of mineralization to Newmont’s Éléonore Mine, as such,
we are excited to follow up this coming year.”
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; 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 (Table 1).
A total of 641 biogeochemical samples were collected at 25 metre (m) intervals along four north -
south and two east-west oriented survey lines. The variable spacing of the lines, covering an area of
4.5 by 2.0 kilometers, was designed to better test the interpreted fold structure identified through
geophysics. The survey lines targeted the limbs and the nose of an interpreted fold within a
sedimentary rock package with coincident chargeability highs. The biogeochemical survey
Fury Gold Mines Limited
1630 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
TSX: FURY NYSE American: FURY
www.furygoldmines.com
successfully identified continuous robust gold and arsenic anomalies which followed closely with the
geology and geophysics (Figure 1).
In addition to the newly identified Éléonore style biogeochemical targets several gold in-till anomalies
remain undrilled throughout the project (Figure 1). These gold in-till anomalies have similar geological
and geochemical characteristics to the Cheechoo style of mineralization. Furthermore, the JT and Moni
prospects represent a potential higher -grade style of intrusion-related gold mineralization with
historical drilling intercepting 53.25m of 4.22 g/t gold (Au); 6.0m of 49.50 g/t Au and 23.8m of 3.08
g/t Au.
Table 1: Regional styles of gold mineralization
Category Éléonore Style Cheechoo Style
Mineralization
Quartz-diopside-tourmaline-sx veins
and stockwork. Silica-carbonate-
diopside-actinolite-phlogopite
alteration.
Quartz-feldspar-amphibole-sx veins
and stockworks. Strong strain zones.
Feldspar-sericite-carbonate alteration.
Geometry 5-6m, up to 20m wide 40-50m wide vein networks
Geology Massive to thinly bedded wacke,
pelite, conglomerate. Pegmatites.
Contacts of t onalite intrusions into
sediments, pegmatites
Structure Folded stratigraphy, strong strain
zones
Strong strain zones, rigid intrusive
contacts
Geochem Au-As Au-As-W-Bi
Geophysics Chargeability highs associated with
mineralization
Magnetic lows/highs associated with
intrusion margins
Analogues Éléonore
(32.6Mt @ 7.8g/t Au)
Cheechoo
(67.0Mt @ 0.87g/t Au)
Fury Gold Mines Limited
1630 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
TSX: FURY NYSE American: FURY
www.furygoldmines.com
Figure 1: Éléonore South Project Location.
“With samples returning results over 200x the background value in gold and nearly 20x background
in arsenic the results from this orientation biogeochemical survey indicate that there may be a large,
mineralized body nearby. Our technical team benefits from direct experience working at the Éléonore
mine and we plan to leverage that experience as we develop this target to the drilling stage through
2024,” stated 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.
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.
Fury Gold Mines Limited
1630 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
TSX: FURY NYSE American: FURY
www.furygoldmines.com
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 59.5 million common share position in Dolly Varden
Silver Corp ( 22% 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 standards for corporate governance, environmental stewardship,
community engagement and sustainable mining. For more information on Fury Gol d 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 th at 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 materially 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, 2022 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.