Fury Gold Mines Ltd (TSE:FURY) (NYSEAMERICAN:FURY) (FRA:AUN) has posted encouraging results from drilling at its Eau Claire deposit in Quebec, expanding the Snake Lake structure, which sits 1 kilometre (km) east of the known resource.
The results come from four of five holes at Snake Lake and one hit 94.1 grams per ton (g/t) gold over 0.5 metres (m), which extended high-grade mineralization 840m down dip.
READ: Fury Gold Mines outlines key achievements of last seven months, including Eau Claire drilling
Another hit 7.51 g/t of the yellow metal over 2m, which was a 150m step-out hole from historical high-grade holes.
"We are very impressed with our wide-spaced first pass drill program along the Snake Lake structural corridor. The fact that we were able to expand the high-grade mineralized footprint with 1,100m and 840m step-outs clearly speaks to the mineral endowment of this area," said Michael Henrichsen, the senior vice-president of exploration at Fury.
"The strength of the fluid pathways, in terms of alteration and vein intensity, and the consistently observed visible gold confirms our belief that significant ounces can be added to the project through continued exploration."
In addition, Fury said that a new mineralized horizon between the Eau Claire and Snake Lake structures had been identified in a volcanic package. Intervals of 19.6 g/t gold over 0.5m and 2.85 g/t gold over 5m in one hole were found here.
CEO Mike Timmins said that this third horizon of mineralization significantly "enhances this area's ounce profile".
"We believe we are still in the early stages of revealing significant discovery opportunities at Eau Claire, our high hit rate and the presence of visible gold in the Snake Lake holes and in the current western extension drilling demonstrate the robustness of the project and prospectivity of the targets on trend."
Fury Gold Mines is a Canadian-focused explorer, positioned in three prolific mining regions across the country.
Contact the author at giles@proactiveinvestors.com