Fury to explore Committee Bay this year
Drills will target Three Bluffs expansion, Raven gold target North of 60 Mining News – February 19, 2021
Last updated 2/25/2021 at 3:13pm
Fury Gold Mines Ltd. Feb. 17 announced plans to complete 5,000 to 10,000 meters of resource expansion and exploration drilling this year at Committee Bay, a 270,000-hectare (667,000 acres) property that covers a gold enriched greenstone belt that extends for roughly 300 kilometers (180 miles) across Nunavut's Kitikmeot region.
Three Bluffs, the most advanced target at Committee Bay, lies at the center of this massive greenstone belt.
According to the most recent calculation, this deposit hosts 2.1 million metric tons of indicated resource averaging 7.85 grams per metric ton (525,000 ounces) gold; and 2.9 million metric tons of inferred resource averaging 7.64 g/t (720,000 oz) gold.
"Shareholders are uniquely positioned in Nunavut with the Committee Bay project, which is considered to be one of the largest unexplored greenstone belts remaining in North America," said Fury Gold Mines President and CEO Mike Timmins. "We will be initiating Fury's first drill program at the project with a robust initial resource, several mature high-grade exploration targets and an experienced team with the skill sets to deliver on our growth plans."
The 2020 Committee Bay exploration program has three primary objectives:
• Expand the Three Bluffs deposit through the drilling of a major conductor down-dip from a high-grade portion of the resource.
• Drill the underexplored Raven high-grade vein target, which sits along an eight-kilometer (five miles) shear zone about 80 kilometers (50 miles) west of Three Bluffs.
• Advance previous geological work to refine drill targets along the Aiviq-Kalulik corridor, which extends for roughly 20 kilometers (12.5 miles) north of Three Bluffs.
The exact scope of this program is largely dependent on limitations posed by COVID-19 restrictions during the summer exploration season.
Fury says the high-grade gold at Three Bluffs is associated with high conductivity geophysical responses due to the intense sulfidation associated with the mineralization.
Fury's primary target at the deposit is a 600- by 200-meter conductive body that starts at a depth of 300 meters and extends to about 500 meters. This target is down-dip from high-grade mineralization previously encountered, including: five meters averaging 40.6 g/t gold, 5.3 meters of 29.03 g/t gold, 11 meters of 16.23 g/t gold, five meters of 15.2 g/t gold, two meters of 21.81 g/t gold, and two meters of 19.38 g/t gold.
Fury plans to drill across the entire conductivity body to demonstrate the potential for resource growth at Three Bluffs.
Drilling at Raven will focus on demonstrating the expansion potential of this early staged prospect.
So far, systematic exploration has been carried out over 1,200 meters of the 8,000-meter shear zone identified at Raven. This work includes the collection of 207 rock samples with values greater than 5 g/t gold, including one rock with 143 g/t gold.
Highlights from nine historic holes drilled over a 400-meter area at Raven include: 5.49 meters averaging 12.6 g/t gold, 2.84 meters of 31.1 g/t gold, and 5.38 meters of 2.99 g/t gold.
Fury plans to drill the Raven prospect through aggressive step outs to demonstrate the scale of the system and to explore the entire length of the 8,000-meter-long shear zone to define new targets through systematic till sampling and geological mapping.
"Our technical team views the high-grade veins at the Raven prospect as the highest probability for a major discovery on the belt this year as the historical drilling positions us for the ability to rapidly expand the body through aggressive step outs," said Fury Gold Mines Senior Vice President of Exploration Michael Henrichsen. "In addition, we will continue to advance our high-priority geophysical targets through the critical step of mapping to define geometry as we advance these targets to drill stage."