Fury Mobilizes Second Drill to the Percival Prospect
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Fury Mobilizes Second Drill to the Percival Prospect
VANCOUVER, Canada – June 22, 202 2 – Fury Gold Mines Limited (TSX: FURY, NYSE
American: FURY) (“Fury” or the “Company”) announces that a second drill has been mobilized to
its wholly-owned Eau Claire project in the Eeyou Istchee Territory in the James Bay region of Quebec.
The second drill will test the refined targeting at the Percival Prospect . Drilling will consist of
approximately 6,500 metres ( m) seeking to extend the higher-grade core of the Percival gold
mineralization down plunge, as well as testing a highly prospective parallel fold hinge 500m to the east.
“Percival is one of our most exciting prospects because we are seeing strong indicators in an area that
has had historical success but remains relatively unexplored,” said Tim Clark, CEO of Fury. “At the
same time, given the proximity of this prospect to the Eau Claire deposit, there is an opportunity to
significantly advance our overall ounces at the Eau Claire project. We are excited about our pending
drill results which are expected to start being released in July, as well as the significant opportunities
for new discoveries from the hinge at Eau Claire and Percival which we are now drilling."
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Figure 1: Percival Long Section showing the steep westerly plunge of the folded stratigraphy as indicated by the 3D magnetic inversion with
selected drill highlights as well as the pierce points for proposed 2022 drilling.
Percival Prospect
The Percival prospect, located 14 kilometres (km) 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 by a
previous operator during 2018 to 2019 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 (Figure 1) (see news release dated February 10,
2021).
Targeting at Percival has significantly advanced recently with the completion of a 29 line -kilometre
Induced Polarization ground geophysical survey as well as a biogeoch emical survey covering 6.5km of
the Percival trend. The higher-grade Percival mineralization is parallel and slightly offset to magnetic
stratigraphic units that define a steeply plunging fold geometry. Targeting indicates there is the potential
to extend higher-grade mineralization down plunge from historical intercepts (Figure 1) and in the newly
identified parallel fold hinge 500m to the east of the known mineralizat ion. A single historical drill hole
intersected this parallel fold hinge and ended in 12m of alteration and mineralization similar to the halo
observed around the Percival gold mineralization (Figure 1).
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“We have looked forward to drilling at Percival and the recently completed surveys have added a high
degree of confidence to our targeting through an improved understanding of the controls on
mineralization. Our onsite team has reviewed the historical drill core and outcrop exposure to develop a
robust targeting matrix using real time observation that we will be able to implement to further refine
our targeting as we drill this exciting prospect,” commented Bryan Atkinson, P.Geol., SVP, Exploration of
Fury.
Technical Disclosure
The above figures reference highlights only, see the Company’s periodic filings for full details of the work
being conducted and its results. In particular the Company’s 2021 Annual Information Form filed at
www.sedar.com on March 23, 2022 , contains information about the sampling methodology which
supports the above 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 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 sustai nable 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. Specific 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.
There can be no assurance that such statements will prove to be accurate, and actual results and future
events could differ materially. 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 be meaningful as of the date made.