Fury to Commence Drilling 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 to Commence Drilling at Éléonore South Gold Project
VANCOUVER, Canada – March 20, 2024 – Fury Gold Mines Limited (TSX and NYSE American:
FURY) (“Fury” or the “Company”) is pleased to announce its intention to commence diamond core
drilling operations at its 100% owned Éléonore South gold project located in the Eeyou Istchee
Territory in the James Bay region of Quebec . The diamond drilling program will commence in early
April 2024 comprising approximately 2,000 metres (m) focussed on the Moni showing trend where
previous drilling intercepted up to; 53.25 m of 4.22 g/t gold (Au); 6.0 m of 49.50 g/t Au including 1.0
m of 294 g/t Au and 23.8 m of 3.08 g/t Au including 1.5 m of 27.80 g/t Au , several of which remain
open (Figure 1 and Table 1).
“Fury is excited to get an early start to our year with a fully funded, targeted drill program in the
northeast region of the Éléonore South property,” commented Tim Clark, CEO of Fury. “This area, given
its strategic significance near the border to Sirios’ Cheechoo deposit , proximity to the operating
Éléonore Mine, and historical high-grade gold drill intercepts, represents a tremendous amount of
potential upside to investors. Going forward, we will also be exploring other priority targets across
the whole 100% owned Éléonore South property which will include a follow -up biogeochemical
survey of the Éléonore Mine style gold anomaly that we recently identified at the project.”
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 lower-grade
bulk tonnage Cheechoo deposit with potential for higher grades hosted in stockwork quartz veining
as observed at the JT and Moni showings.
Previous drilling at Éléonore South, 38,037 m in 164 drill holes, was largely focussed in the Moni area
and successfully defined a 2,000 m x 750 m zone of lower-grade intrusion related gold mineralization
similar to that of the Cheechoo gold deposit. Within the low er-grade gold halo, there are a series of
structurally controlled quartz vein stockworks which host significantly higher grades of gold. Fury’s
Spring 2024 drilling campaign will focus on these structural corridors following up on previous drill
intercepts of 53.25 m of 4.22 g/t Au; 6.0 m of 49.50 g/t Au and 23.8 m of 3.08 g/t Au.
Fury Gold Mines Limited
1630 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
TSX: FURY NYSE American: FURY
www.furygoldmines.com
In late spring Fury will complete the biogeoch emical grid where a robust geochemical gold anomaly
within the same sedimentary rock package that hosts Newmont’s Éléonore Mine has been identified
(see news release dated March 5, 2024).
Table 1: Éléonore South Previous Drill Highlights (2017-2019) from the Moni Showing (Cheechoo Style
Mineralization)
Hole ID From To Length (m) Au g/t
ES17-64
167.25 220.50 53.25 4.22
202.5 213.0 10.5 13.00
Incl. 204.0 207.0 3.0 37.90
ES18-098 8.1 16.5 8.4 8.56
Incl. 8.9 9.8 1.0 71.40
ES18-100 14.0 20.0 6.0 49.40
Incl. 17.0 18.0 1.0 294.00
ES18-133 164.8 171.0 6.2 14.70
Incl. 167.0 168.0 1.0 80.40
ES19-156 140.3 150.0 9.7 7.44
Incl. 144.7 145.5 0.8 63.20
ES19-157
169.4 193.2 23.8 3.08
Incl. 181.0 182.5 1.5 27.80
and 186.4 187.2 0.8 13.35
ES17-077 142.5 188.0 45.5 1.46
Incl. 186.5 188.0 1.5 23.10
*Cutoff 0.25 g/t Au, maximum internal dilution 4m
True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals.
Fury Gold Mines Limited
1630 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
TSX: FURY NYSE American: FURY
www.furygoldmines.com
Figure 1: Drilling around the Cheechoo Tonalite showing previous drill intercept highlights (2017-2019).
“We’ve been given an excellent opportunity to get drilling at Éléonore South several months ahead of
what we had initially envisioned. This will allow us the ability to confirm our recent targeting within
the Cheechoo tonalite and test our ideas on the controls of the high -grade quartz vein hosted gold
mineralization. Our teams wil l be mobilizing within the week ,” stated Bryan Atkinson, P.Geol., SVP
Exploration of Fury.
Historical JT and Moni Drilling
Analytical samples were taken by sawing BTW diameter core into equal halves on site and sent one
of the halves to ALS Lab in Rouyn -Noranda, Val d’Or, QC, and Sudbury, ON for preparation and
analysis. All samples are assayed using 50 g nominal weight fire assay with atomic absorption finish
(Au-AA24) and multi -element four acid digest ICP -AES/ICP-MS method (ME -MS61). Where Au -
AA24 results were greater than 3 ppm Au the assay were repeated 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 accuracy and precision in a large majority of standards
Fury Gold Mines Limited
1630 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
TSX: FURY NYSE American: FURY
www.furygoldmines.com
assayed. True widths of mineralization are unknown based on current geometric understanding of the
mineralized intervals.
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 Canada and holds a 5 4 million common share position in Dolly Varden
Silver Corp (19.99% 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 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 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 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, 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.