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Fury Commences 2025 Drill Program at Committee Bay
Globenewswire· 2025-07-14 11:00
Core Viewpoint - Fury Gold Mines Limited has commenced its 2025 exploration drilling program at the Committee Bay project in Nunavut, Canada, focusing on expanding known gold resources and testing new targets [1][2]. Group 1: Exploration Program Details - The 2025 drilling program will consist of 7 to 10 diamond drill holes totaling approximately 5,000 meters, targeting the Three Bluffs Shear Zone, regional shear zones along the Raven shear zone, and Burro West [1]. - Initial results from the drilling program are anticipated in September 2025 [2]. Group 2: Three Bluffs Shear Zone - The Three Bluffs Gold deposit contains an estimated 524,000 ounces of gold in 2.1 million tonnes at a grade of 7.85 g/t in the indicated resource category and 720,000 ounces in 2.9 million tonnes at 7.64 g/t in the inferred resource category [2]. - Previous drilling in 2021 at Three Bluffs intercepted high-grade mineralization, including 13.93 g/t gold over 10 meters, 18.67 g/t gold over 3 meters, and 23.2 g/t gold over 1 meter [2]. Group 3: Raven Prospect - The Raven prospect, located approximately 50 km west of the Three Bluffs deposit, will be targeted with 2 to 3 drill holes for about 1,000 meters, focusing on a previously undrilled gold-bearing outcrop with an average grade of 16.12 g/t gold from seven samples [4]. Group 4: Burro West - The Burro West target has identified a significant gold in till anomaly of approximately 300 x 300 meters, associated with a sheared contact between mafic volcanics and ultramafic lithologies [7]. - The 2025 drilling at Burro West will consist of 1 to 2 drill holes totaling approximately 500 meters [7]. Group 5: Company Overview - Fury Gold Mines Limited is a Canadian-focused exploration company with a well-financed position and a management team experienced in advancing exploration assets [11]. - The company holds an 11.8 million common share position in Dolly Varden Silver Corp, representing approximately 13.5% of issued shares [11].
Fury Intercepts 32.35m of 1.16% Li2O at the Ninaaskumuwin Discovery
Globenewswire· 2025-07-09 11:00
Core Viewpoint - Fury Gold Mines Limited announced positive drill results from its maiden drill program at the Ninaaskumuwin lithium discovery, indicating significant lithium mineralization and potential for further exploration [1][2]. Group 1: Drill Results - The maiden drill program totaled 825 meters in 5 holes, targeting a spodumene-bearing pegmatite outcrop with surface samples showing up to 3.92% Li2O [1]. - Highlights include 32.35 meters of 1.16% Li2O from hole EE24-003 and 22.48 meters of 1.19% Li2O from hole EE24-002 [1][3]. - The lithium mineralized spodumene-bearing pegmatite remains open at depth and along strike, suggesting the need for additional drilling [1][4]. Group 2: Project Location and Infrastructure - The Ninaaskumuwin lithium discovery is located on Fury's 100% owned Elmer East project, covering approximately 45,735 hectares [2]. - The project is easily accessible from the paved Billy Diamond highway, about 60 kilometers north of a rest stop with necessary amenities [2]. - It is situated approximately 50 kilometers north of Rio Tinto's Galaxy Lithium project, which is currently under construction [2]. Group 3: Geological Characteristics - Thick spodumene-bearing pegmatite was intersected in three holes, confirming vertical continuity of lithium mineralization to 150 meters below the surface [4]. - The pegmatite is composed of quartz, plagioclase, potassic feldspar, and spodumene, with spodumene observed as large elongated crystals [6]. - Geophysical and geological mapping indicates a potential strike length of up to 3.8 kilometers for the spodumene-bearing pegmatite [5]. Group 4: Management Commentary - The CEO of Fury expressed satisfaction with the drill results, highlighting the value created through the acquisition of Quebec Precious Metals and the potential for further exploration in the James Bay region [2]. - The Senior Vice President of Exploration noted the encouraging initial results and the strategic location of the discovery near established infrastructure [10].
Fury Announces Results of Annual General Meeting of Shareholders
Globenewswire· 2025-06-27 11:00
Core Points - Fury Gold Mines Limited held its Annual General Meeting on June 26, 2025, where all director nominees were elected to serve until the next annual general meeting [1] - A total of 61,696,271 common shares were represented at the meeting, accounting for 38.48% of the outstanding shares [2] Group 1: Election of Directors - All nominees for election as directors were successfully elected, with the following vote results: - Forrester A. Clark received 37,627,890 votes (82.34% for, 17.66% withheld) - Brian Christie received 36,303,467 votes (79.34% for, 20.66% withheld) - Steve Cook received 44,548,623 votes (97.45% for, 2.55% withheld) - Michael Hoffman received 36,343,467 votes (79.50% for, 20.50% withheld) - Alison Sagateh (Saga) Williams received 36,292,404 votes (79.39% for, 20.61% withheld) [3] Group 2: Appointment of Auditor - Deloitte LLP was appointed as the Company's auditor, with 58,860,985 votes in favor (95.40% for, 4.60% withheld) [4] Group 3: Company Overview - Fury Gold Mines Limited is a Canadian-focused exploration company with a strong financial position, operating in two prolific mining regions and holding an 11.8 million common share position in Dolly Varden Silver Corp, representing approximately 13.9% of issued shares [5] - The company aims to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence, while maintaining high standards in corporate governance, environmental stewardship, community engagement, and sustainable mining [5]
Fury Announces Closing of Financing
Globenewswire· 2025-06-20 11:00
Core Viewpoint - Fury Gold Mines Limited has successfully closed a private placement and offering, raising a total of C$3,374,600 to advance its exploration programs in Quebec and Nunavut [1][2][3] Group 1: Offering Details - The company closed a private placement of 3,999,701 flow-through shares at C$0.77 per share, generating gross proceeds of C$3,079,800 [1] - Agnico Eagle Mines Limited acquired 440,000 common shares at C$0.67 per share, contributing an additional C$294,800 to the total proceeds [2] - The combined gross proceeds from both the offering and private placement amount to C$3,374,600 [2] Group 2: Use of Proceeds - Proceeds from the financing will be utilized to advance the Committee Bay exploration program and other exploration opportunities [2][3] - The company aims to drive potential discoveries across its mineral exploration portfolio with the raised funds [3] Group 3: Company Overview - Fury Gold Mines Limited is a Canadian-focused exploration company with a significant position in Dolly Varden Silver Corp, holding approximately 14.5% of issued shares [5] - The company is led by a management team with a proven track record in financing and advancing exploration assets [5] - Fury is committed to high standards in corporate governance, environmental stewardship, community engagement, and sustainable mining practices [5]
Fury Finalizes Drill Targeting at its Newly Acquired Sakami Gold Project
Globenewswire· 2025-06-16 11:00
Core Insights - Fury Gold Mines Limited has finalized drill targets at the Sakami gold project in Northern Quebec, with a drilling campaign set to begin in late June 2025, targeting approximately 3,000 to 5,000 meters [1][2][6] - The Sakami project has historical drilling results showing significant gold intercepts, including 7.79 g/t Au over 3.0 m and 8.70 g/t Au over 7.0 m, indicating strong mineralization potential [1][4][6] Sakami Project Overview - The Sakami project spans approximately 14,250 hectares and is located 30 km east of the Billy Diamond Highway, situated within a structural corridor where gold mineralization has been identified over 23 km [4][6] - Gold mineralization is associated with a sulphide-rich horizon along the contact between the Opinaca and La Grande geological subprovinces [4][6] Drilling Campaign Priorities - The first phase of drilling will focus on three main priorities: 1. Discovering new mineralization at the Juliette target along a 23 km gold-bearing corridor 2. Confirming historical mineralized intercepts at La Pointe and La Pointe Extension 3. Extending high-grade mineralization to depth beneath historical drilling [6][7] Historical Drilling Insights - Historical drilling at Sakami has shown gold mineralization remains open to depth and along strike, with the undrilled Juliette target presenting a promising opportunity for additional discoveries [5][6] - The targeting matrix for the drilling campaign is robust, incorporating all available data to enhance the understanding of the project's prospectivity [3][6] Éléonore South Project Overview - The Éléonore South project is strategically located near significant gold deposits, with two distinct styles of mineralization identified: structurally controlled quartz veins and intrusion-related disseminated gold [11][12] - The first phase of drilling at Éléonore South comprised 12 diamond drill holes totaling approximately 4,930 m, with some holes intercepting low-grade gold mineralization [12][18] Future Exploration Plans - The company plans to follow up on numerous untested targets within the six square kilometer area of the Éléonore South project, indicating potential for further exploration and discovery [18]
Fury Upsizes Financing to C$3.08 Million
Globenewswire· 2025-06-06 11:00
Group 1 - Fury Gold Mines Limited has increased its proposed private placement offering from C$2,500,000 to C$3,080,000, intending to place 4,000,000 flow-through common shares at a price of C$0.77 per share [1] - The offering is expected to close on or about June 19, 2025, subject to customary closing conditions and necessary approvals from the Toronto Stock Exchange and NYSE American [2] - The offering may increase by approximately 15.4% if a strategic investor exercises its pre-emptive participation rights [1] Group 2 - Fury Gold Mines Limited is a Canadian-focused exploration company with a significant position in Dolly Varden Silver Corp, holding approximately 14.5% of issued shares [4] - The company aims to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence, led by a management team with proven success [4] - Fury is committed to high standards in corporate governance, environmental stewardship, community engagement, and sustainable mining practices [4]
Fury Announces C$2.5 Million Financing
GlobeNewswire News Room· 2025-06-05 15:40
Core Viewpoint - Fury Gold Mines Limited is initiating a private placement of up to 3,246,753 common shares at a price of C$0.77 per share, aiming to raise total gross proceeds of C$2,500,000 to fund eligible Canadian exploration expenses [1][2]. Group 1: Offering Details - The shares will qualify as "flow-through shares" under Canadian tax law, allowing the company to incur eligible exploration expenses in Québec and Nunavut [2]. - The offering is expected to close around June 19, 2025, pending necessary approvals and subscription agreements [3]. - The company may pay finder's fees of up to 6% from its working capital for assistance with the financing [3]. Group 2: Company Overview - Fury Gold Mines Limited is a Canadian-focused exploration company with a significant position in Dolly Varden Silver Corp, holding approximately 14.5% of issued shares [5]. - The company aims to grow its gold platform through rigorous project evaluation and exploration excellence, adhering to high standards of corporate governance and sustainable mining practices [5].
Fury Announces Filing and Mailing of the Management Information Circular in Connection with its Annual Meeting of Shareholders
Globenewswire· 2025-06-05 11:00
Core Points - Fury Gold Mines Limited has made its management information circular available for the upcoming annual meeting of shareholders [1] - The annual meeting is scheduled for June 26, 2025, at 11:00 a.m. in a virtual-only format [2] - The Board of Directors recommends that shareholders vote in favor of all resolutions [3] Meeting Details - The meeting will provide information on the election of directors and appointment of auditors, along with voting instructions [2] - Shareholders are encouraged to review the meeting materials before casting their votes [2] Proxy Materials - In case of a Canada Post strike, traditional mail services for distributing proxy materials may be disrupted, but materials can be accessed electronically [4] Shareholder Assistance - Shareholders needing assistance with voting can contact Laurel Hill Advisory Group for support [5][7] Company Overview - Fury Gold Mines Limited is a Canadian-focused exploration company with a significant position in Dolly Varden Silver Corp, holding approximately 14.5% of issued shares [5] - The company aims to grow its gold platform through rigorous project evaluation and exploration excellence [5]
Fury Announces 2025 Exploration Plans at Committee Bay
GlobeNewswire News Room· 2025-06-03 11:00
2025 Exploration Program The Committee Bay project spans the entire 300 km long Committee Bay Greenstone belt in the eastern Kitikmeot region of Nunavut. The land package comprises a series of mineral claims and leases covering approximately 250,000 hectares, encompassing the Three Bluffs Gold deposit, more than five advanced gold targets, and several significant gold anomalies. The high-grade Three Bluffs Gold deposit is located centrally within the project and is estimated to contain 524,000 oz. of gold a ...
Fury Announces C$4.3M Strategic Investment
Globenewswire· 2025-05-27 11:00
Core Viewpoint - Fury Gold Mines Limited has entered into a subscription agreement with Agnico Eagle Mines Limited, resulting in Agnico acquiring 6,728,000 units at C$0.64 per unit, totaling gross proceeds of C$4,305,920 [1][2] Investment Details - Each unit consists of one common share and one common share purchase warrant, with the warrant exercisable at C$0.80 for 36 months, subject to accelerated expiry conditions [1] - Agnico's investment increases its ownership in Fury to 6.3% of issued shares and 9.9% on a partially diluted basis [2] Use of Proceeds - Proceeds from the private placement will be allocated as follows: C$3.9 million for exploration at the Committee Bay project, with the remainder for other projects and general corporate purposes [3] Management Commentary - The CEO of Fury expressed satisfaction with Agnico's investment, highlighting the potential of the Committee Bay project and the importance of the Arctic for future mineral exploration [4] Investor Rights Agreement - An investor rights agreement was established, granting Agnico the right to nominate a board member and participate in future equity offerings to maintain its ownership interest [5] Company Overview - Fury Gold Mines Limited is a Canadian-focused exploration company with a significant shareholding in Dolly Varden Silver Corp and aims to grow its gold platform through rigorous project evaluation and exploration [6]