Fury Gold Mines Ltd (TSE:FURY) (NYSEAMERICAN:FURY) (FRA:AUN1) outlined key achievements over the last seven months since the gold exploration group was formed, which has included significant drilling at the Eau Claire project in Quebec and a tie-up with a UK-based environmental, social and corporate governance (ESG) platform to help communicate its sustainability activities.
"Over the past seven months, we have been busy at Fury putting the company in a strong position to leverage its growing, high-grade Canadian gold projects," said Mike Timmins, CEO of Fury.
READ: Fury Gold Mines sees strong potential to expand the current resource at Eau Claire with new drill results hitting high-grade gold
"We are excited about two new Eau Claire targets, the Snake Lake structure and the 850 Zone, which could add an entirely new dimension to the project.
"We believe the opportunity at Eau Claire is much bigger than simply expanding the deposit trend, as we are now seeing several regional and highly prospective discovery opportunities within the 54,000-hectare land package that we will be exploring this summer."
The company has now completed around 40% of the 50,000 metres (m) Eau Claire drill program, with 13 holes released, and 12 pending. Two new targets were identified on the western limit of the resource below the 850 Zone, the Fold Hinge and Limb targets, which have the potential to significantly expand the deposit.
Elsewhere, at the Homestake Ridge and Committee Bay projects, in British Columbia and Nunavut respectively, the company has outlined drill programs, with high-grade extension targets ready to be tested.
Fury also noted it had filed a base shelf prospectus, allowing it to offer up to C$200 million of shares, subscription receipts, warrants, and units during 25 months, providing additional flexibility and efficiency for future fundraisings.
The company said it had partnered with UK-based data, research and ESG-focused firm Digbee, which has developed a platform for the mining sector. Fury said it will use this disclosure tool to communicate its many ESG activities.
Other key ESG initiatives that are currently underway or recently completed at the company include the establishment of a board-level indigenous and community relations committee and ongoing site health and safety training.
Fury is focused on three prolific mining regions in Canada, which aims to advance its multi-million-ounce gold platform.
Contact the author at giles@proactiveinvestors.com