• Fury Gold Mines Limited (FURY) hit high-grade gold in eight drill holes between the main and east areas of the Percival Prospect on the Eau Claire Project in Quebec
  • Five of the drill holes in the areas targeted a westerly down-plunge extension of the historical Percival Prospect mineralization
  • The high-grade gold values were found near historical high-grade mineralization
  • The company is planning a second phase of drilling at the prospect to expand high-grade mineralization down plunge and to the west
  • Fury Gold Mines Limited (FURY) is up 3.12 per cent, trading at $0.49 per share as of 3:16 p.m. EST

Fury Gold Mines Limited (FURY) has discovered high-grade gold in eight drill holes between the main and east areas of the Percival Prospect on the Eau Claire Project in Quebec.

According to the company, five of the drill holes in the areas targeted a westerly down plunge extension of the historical Percival Prospect mineralization.

The results from the company’s 2022 diamond drilling program confirmed that the high-grade core of the Percival mineralization plunges steeply to the west and remains open in all directions. The high-grade gold values were found in step-out holes 22KP-008 and 22KP-005, which were drilled near historical high-grade mineralization.

Percival’s long section depicting the locations of the recent drill holes in relation to the historical drilling along a steeply west plunging fold. (Source: Fury Gold Mines Limited)

Broad low-grade zones of gold mineralization were encountered in two of the three drill holes. Fury’s technical team believes the known presence of extensive silicified breccia, together with anomalous gold, suggests the hydrothermal system continues to the east.

The prospect’s gold mineralization is currently defined as a 500-metre by 100-metre surface footprint, with high-grade gold being shown at 300 metres below the surface.

The work done on the prospect expanded the footprint, which has caused the company to plan a second phase of drilling at the prospect to expand high-grade mineralization down plunge and to the west.

The Percival Prospect is one of 15 targets along the Percival trend.

Fury Gold Mines Limited (FURY) is up 3.12 per cent, trading at $0.49 per share as of 3:16 p.m. EST.

More From The Market Online

Four of the Magnificent Seven dropped today: Here’s why

The Magnificent Seven generated nearly two-thirds of the S&P 500's returns in 2023 and account for more than 25 per cent of the index.

Adyton to recommence work at its Feni Island Project

Adyton Resources (TSXV:ADY) gears up to restart work activities at its Feni Island Gold-Copper Project in Papua New Guinea.

Honda to build Canada’s first EV supply chain for C$15 billion

Honda Motor (NYSE:HMC) announces plans to build Canada's first comprehensive electric vehicle supply chain in Ontario for C$15 billion.