Fury Gold drills 1.29 g/t gold over 17.50 metres at Eau Claire, Quebec

Fury Gold drills 1.29 g/t gold over 17.50 metres at Eau Claire, Quebec

Fury Gold Mines Ltd. [FURY-TSX; NYSE American] provided results for seven core drill holes at the 100%-owned Eau Claire project located in the Eeyou Istchee Territory in the James Bay region of northern Quebec. The 2022 exploration drilling program continues to demonstrate potential to significantly expand the deposit to the west at the Hinge Target.

Drill holes 22EC-046, 22EC-047 and 22EC-048 targeted a 150 to 200-metre extension of the intercept of 3.0 metres of 9.36 g/t gold from drill hole 21EC-041. All three drill holes intercepted multiple zones of gold mineralization, with hole 22EC-048 exhibiting four zones of high grade and broad widths of more moderate grade, including 3.50 metres of 4.79 g/t gold, 1.00 metres of 14.19 g/t gold, 3.50 metres of 5.86 g/t gold, 1.00 metre of 20.6 g/t gold and 17.50 metres of 1.29 g/t gold.

Fury believes these intercepts represent the apex of the targeted fold hinge and reflects the deposit geometry that the technical team believes could deliver significant resource growth. The Hinge Zone drilling to date demonstrates a potential 20%, or 330-metre, increase to the mineralized strike length of the Eau Claire Deposit with results pending from additional drill holes located 100 metres further west of the reported intercepts.

“The recent holes represent Fury’s best exploration drilling result to date at Eau Claire and are exactly what we were hoping to see at the Hinge Target. The drill results confirm our belief that the Hinge is open for considerable growth which could impact our ounces significantly,” commented Tim Clark, CEO. “We are halfway through our 2022 drilling program and are very excited about the pending assay results still to come. In the following weeks and months, Fury will have a steady news flow with additional drill results from the Hinge, North Limb, and Percival Prospect.”

Mineralization associated with the 850 zone has been extended with seven zones of gold mineralization intercepted in two of the drill holes including 1.00 metre of 14.19 g/t gold, 3.50 metres of 4.79 g/t gold from 22EC-048 and 8.00 metres of 1.81 g/t gold from 22EC-047. At the 450 zone position, which has historically been untested at the Hinge Target, drill hole 22EC-048 intercepted six zones of gold mineralization over approximately 100 metres, including 1.00 metre at 20.60 g/t gold, 3.50 metres of 5.86 g/t gold, 3.50 metres of 3.73 g/t gold and 17.50 metres of 1.29 g/t gold.

Collectively these results represent high-grade mineralization, widths above resource cut-off grade and zones of strong alteration and mineralization (above 1 g/t gold) demonstrating the potential for the Hinge target to significantly expand the Eau Claire deposit.

Resource Eastern Expansion Drilling: The initial 2022 eastern expansion drill program was designed to test for shallow mineralization up plunge of the significant high-grade gold results from limited 2021 drilling of 23.27 g/t gold over 7.09 metres, 11.56 g/t gold over 6.04 metres. Each drill hole completed in 2022 intercepted quartz tourmaline veining with associated alteration and include 1.43 metres of 4.43 g/t gold from 22EC-042 and 1.25 metres of 4.6 g/t gold from 22EC-045.

Fury’s technical team remains confident that the Eau Claire resource can be significantly expanded to the east with drilling planned for H2 2022.

Additional Targets: North Limb – The entire Eau Claire resource is currently situated on the south limb of an anticline. With continued success at the Hinge Target, Fury is testing the potential of the North Limb of the anticline where the favourable Eau Claire host stratigraphy and correct structural setting were recognized.

A single hole drilled into the North Limb from the south in 2012 intercepted a 40m wide zone of alteration and associated quartz tourmaline veining which yielded 2 metres of 8.45 g/t gold. Fury completed three drill holes targeting the North Limb, all of which have intercepted zones of alteration and/or quartz tourmaline veining. Results are pending.

Gap Zone – The recognition of the stratigraphic controls on the Eau Claire resource has opened up the westerly continuation of the 450 zone historically referred to as the “Gap” Zone as a highly prospective target. Historical drilling outside of the defined resource intercepted gold mineralization hosted in quartz tourmaline veining including 0.5 metres of 14.23 g/t gold, and 0.5 metres of 9.99 g/t gold (preferred horizon). Based on the historical intercepts and limited drilling on the western edge of the 450 zone, Fury plans to drill the Gap Zone in the coming months.

“The Hinge Target is taking shape with an over 20% plus increase to the mineralized footprint of the Eau Claire deposit to the west with a lot of open space yet to explore both to the west and to the east. As we have started to gain a better understanding of the geometry of the Hinge Target and narrow in on the sweet spot of gold mineralization, we are planning continued aggressive drilling,” stated Bryan Atkinson, SVP, Exploration of Fury.

Currently, there is one completed hole pending assay results from the Hinge, three pending from the North Limb and two pending from the parallel fold hinge 500 metres to the east of the Percival Prospect.