Fury Gold and Newmont Complete Consolidation of Joint Venture Interests and Define Nine Targets at Éléonore South Gold Project

About this update from Fury Gold Mines Limited

[{"type":"text","content":"Fury Gold and Newmont Complete Consolidation of Joint Venture Interests and Define Nine Targets at Éléonore South Gold ProjectVANCOUVER, BC / ACCESSWIRE / September 12, 2022 / Fury Gold Mines Limited (TSX:FURY)(NYSE American:FURY) (\"Fury\" or the \"Company\") is pleased to announce that the Company and Newmont Corporation (NYSE: NEM, TSX: NGT) (\"Newmont\"), through their respective subsidiaries, have completed the previously announced buy-out of the remaining approximately 23.77% participating interest of Azimut Exploration Inc. in the Éléonore South Joint Venture (\"ESJV\"), on a pro-rata basis. As a result of the transaction, the 100% ESJV participating interests are Fury 50.022% and Newmont 49.978% with Fury remaining operator under an amended and restated joint venture agreement. The cost to Fury of the 11.902% additional participating interest in the joint venture is C$1,202,663.\"We are excited to be moving forward with our valued partner and industry leader, Newmont, with an updated ESJV agreement. One of our favourite targets has been the five and a half kilometer anomaly that is hosted on the ESJV property, and we are eager to more readily advance this to drill stage next year,\" said Tim Clark, CEO of Fury. \"The potential for a larger scale discovery within the land package, coupled with the excellent access to roads and hydro power in the James Bay region could represent significant value and upside for shareholders.\"Targeting UpdateThe Company is also pleased to provide an update on targeting at the Éléonore South Joint Venture project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The Company has defined nine gold targets through the completion of an infill till sampling program within a five and a half kilometer long undrilled historical gold-in-till anomaly (Figure 1). Fury and its joint venture partner are currently following up on these targets to advance them to the drill stage and exploring to develop additional targets.There are two distinct styles of mineralization that are being targeted on the project, structurally controlled high-grade gold veins similar to the Éléonore deposit as well as bulk tonnage disseminated gold mineralization as defined at Sirios's Cheechoo deposit and within the JT and Moni zones within the ESJV. Tab...

More updates from Fury Gold Mines Limited