The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Taps 10 meters of 13.93 g/t gold 120 meters below resource North of 60 Mining News – December 3, 2021
One hole drilled this year cut 10 meters averaging 13.93 g/t gold about 120 meters below the current Three Bluffs resource on Fury Gold's Committee Bay project in Nunavut.
Fury Gold Mines Ltd. Dec. 1 reported that 2021 drilling has tapped a wide section of high-grade gold about 120 meters below the Three Bluffs deposit on its Committee Bay property in Nunavut's Kitikmeot region.
According to the most recent calculation, Three Bluffs hosts 2.1 million metric tons of indicated resource averaging 7.85 grams per metric ton (524,000 ounces) gold; and 2.9 million metric tons of inferred resource averaging 7.64 g/t (720,000 oz) gold.
Targeting a prominent geophysical conductor zone, hole 21TB-152 cut three zones of high-grade gold mineralization about 120 meters below this resource: 10 meters averaging 13.93 g/t gold from a depth of 370.5 meters; three meters averaging 18.67 g/t gold from 385.5 meters; and one meter of 23.2 g/t gold from 398.5 meters.
"These are the best drill results the project has seen in five years, and they represent a very exciting achievement for the Committee Bay project," said Fury Gold Mines CEO Tim Clark. "Importantly, the high-grade hole opens up considerable expansion opportunities and confirms that Committee Bay represents a major gold exploration opportunity."
The company says the gold mineralization encountered in hole 21TB-152 is associated with a deformation zone within a meta-sediment unit that was not expected to be found in this location.
"We are very pleased to have encountered these somewhat unanticipated high-grade intercepts from the meta-sediments in this area of the deposit in contrast to the more typical sulfide banded iron mineralization that makes up the bulk of the current resource," said Fury Gold Mines Senior Vice President of Exploration Michael Henrichsen.
This discovery likely increases the resource expansion potential in the western region of the deposit.
"We plan to aggressively pursue this emerging style of mineralization given that it has been underexplored to date and could quickly change the growth trajectory of this gold resource," Henrichsen added.
The balance of Fury's 2,600-meters summer drill program at Committee Bay involved four holes at Raven, a prospect about 40 kilometers (25 miles) west of Three Bluffs that lies along an 8,000-meter-long shear zone where gold mineralization occurs in quartz-arsenopyrite veins.
Assays are pending from the Raven drilling.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
Reader Comments(0)