Fury Gold Mines Limited (TSE:FURY) (NYSEAMERICAN:FURY) (FRA:AUN1) outlined this summer's exploration plans for its Committee Bay gold project in the Kitikmeot region of Nunavut - one of the largest unexplored greenstone belts left in North America.
Planned are between 5,000 metres (m) and 10,000m of drilling with three goals, one of which is to expand the existing resource at the Three Bluffs deposit, which already boasts 525,000 ounces (oz) at 7.85 grams per ton (g/t) gold in the indicated category and 720,000 oz at 7.64 g/t gold in inferred.
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The main target at Three Bluffs is a body that measures 600m by 200m at a depth of between 300m and 500m, which lies down dip from high-grade mineralization, offsetting such previous drill intercepts of 5m at 40.6 g/t gold and 5.3m of 29.03 g/t of the yellow metal.
The company also aims to drill the underexplored Raven high-grade vein target, which sits around 80 kilometers (km) west of the Three Bluffs deposit, it said.
Here, 207 rock samples have been taken in the defined area of mineralization, with 30 returning values greater than 5 g/t gold with a peak value of 143 g/t gold.
Fury reckons the Raven target has the highest probability of becoming a major discovery and plans aggressive step-out holes to demonstrate the scale of the system and to explore, via mapping and sampling, the entire length of the 8km shear zone to define new targets.
It is worth noting that only 1.2km of the 8km shear zone has been systematically explored to date.
Finally, Fury said it aims to progress previous geological work on targets along the Aiviq - Kalulik corridor to advance them to drill stage.
"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. 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," said Mike Timmins, the CEO of Fury.
Fury is focused on three prolific mining regions in Canada and aims to advance its multi-million-ounce gold platform.
Contact the author at giles@proactiveinvestors.com