Fury Gold and Newmont Increase Joint Venture Interests at Éléonore South Gold Project to 100%

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[{"type":"text","content":"Fury Gold and Newmont Increase Joint Venture Interests at Éléonore South Gold Project to 100%VANCOUVER, BC / ACCESSWIRE / August 8, 2022 / Fury Gold Mines Limited (TSX:FURY), (NYSE American:FURY) (\"Fury\" or the \"Company\") is pleased to announce that Fury and Newmont Corporation (\"Newmont\") as purchasers have concurrently agreed, through their respective subsidiaries, to buy-out the remaining approximately 23.77% participating interest of Azimut Exploration Inc. on a pro-rata basis. The 100% Éléonore South Joint Venture (\"ESJV\") interests will then be 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 will be approximately C$1.2M. Completion of the purchase is subject to certain conditions precedent and is expected to close in the third quarter of 2022.\"The consolidation of the ESJV is a key transactional milestone for Fury and a positive outcome for all parties. We see a tremendous amount of exploration upside in the joint venture and are thrilled to have a great working relationship with Newmont,\" commented Tim Clark, CEO of Fury.Figure 1: Éléonore South Joint Venture Project Location and Infrastructure.Éléonore South Joint VentureThe Éléonore South Joint Venture is strategically located in an area of prolific gold mineralization within the James Bay Gold Camp locally defined by Newmont's Éléonore Mine (11km to the north) and Sirios Resources Inc.'s Cheechoo gold deposit (immediately to the east northeast) (Figure 1). The Éléonore mine geology has been interpreted to extend onto the Éléonore South property. Fury, working closely with Newmont, currently acts as manager and operator of the joint venture.Éléonore South JV Highlights:Exploration stagePotential to host similar styles of mineralization as present at the nearby Newmont Éléonore Mine and Sirios Resources Cheechoo DepositThe mineralized Cheechoo tonalite extends on to the property (host to Sirios Resources' Cheechoo Deposit)Over 14,700 hectares land position with Hydro powerlines and nearby road accessAbout Fury Gold Mines LimitedFury Gold Mines Limited is a well financed Canadian-focused exploration company pos...

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