Fury Gold Mines just announced that it has appointed Tim Clark, a current director of the Company who also serves on the Audit committee, to the position of Chief Executive Officer and Director replacing Michael Timmins. Mr. Clark brings 23 years of global capital markets experience with numerous major US, European and Canadian banks. Over the years, he has developed strong working relationships with Tier 1 institutional investors throughout the United States providing corporate strategy, and peer and financial analysis and insights on corporates within the materials, commodities and mining sectors.
Fury Gold Mines' CEO Michael Timmins and SVP Exploration Michael Henrichsen outline the prospectivity of the recently-announced drill program at its Committee Bay project in Nunavut. The company has commenced drilling at its Committee Bay project in the Kitikmeot region of Nunavut. Fury controls a 270,000-hectare land position, which is situated across a 300-kilometre (km) greenstone belt, with multiple high-grade target centres. The Company's 5,000-metre (m) drill program is designed to expand the defined high-grade mineralization at the Raven prospect, which has historical drill intercepts of 2.8m of 31.1 g/t gold and 5.49m of 12.6 g/t gold, and test the potential below the current resource at the Three Bluffs deposit. Fury also plans to conduct surface exploration work at five targets located in the southern half of the belt to advance them to drill stage.
CEO Michael Timmins chats with Kitco News' Michael McCrae about the company's Eau Claire project, which is located just 57-kilometres south of Newmont-owned Éléonore mine. Powerlines run on either side. "We're about halfway into the first 50,000-metre [drill program]. The opportunities that we're seeing at the deposit on the mining trend [are] turning out to be way better than we anticipated," said Timmins. In late May the company announced drill hole 21EC-022 intersected 23.27 g/t gold (Au) over 7.09 metres (m) in the southeast margin of the defined resource demonstrating the potential to significantly expand the resource down plunge to the east.
Mike Timmins, President and CEO of Fury Gold Mines, and Cory Fleck discuss recent news highlighting high-grade gold results at the Eau Claire Property, in Quebec announced on May 25th that yielded 23.27 g/t gold over 7.09 metres. Other key targets and regional exploration that will be tested this year at Eau Claire are also reviewed.
Michael commented on the advancement at Fury’s flagship project: “Eau Claire continues to impress us. And I think it’s the sheer scale of the mineral endowment that has surprised us the most. This is the type of project that I was searching for back when I was at Agnico Eagle. Significant growth, high-grade gold, easy access, gold at all project scales and in different geologies and the suite of regional targets, that’s going to offer that long-term growth.”
Mike Timmins, President and CEO of Fury, and Cory Fleck of The Korelin Economics Report, discuss the recent Eau Claire drill results and the exciting Snake Lake and western extension targets.
Mike Timmins, President and CEO of Fury Gold Mines joins Cory Fleck to provide more information on initial Eau Claire drill results. Mike and Cory also discuss how these results play into the ongoing exploration program at the project and the exploration potential regionally.
Fury Gold Mines CEO Michael Timmins and SVP of Exploration Mike Henrichsen explain the significance of the recently announced 6.04m hit of 11.56 g/t gold step-out hole at the Eau Claire deposit located in the Eeyou Istchee Territory in the James Bay region of Quebec. CEO Mike Timmins stated “Our first set of drill results confirm the potential of this underexplored area of the deposit and supports our overall goal of increasing scale and defining more gold at Eau Claire”…“We are very pleased with the productivity and pace of the program and are excited to continue drilling out the lower areas of the deposit, as well as the down-plunge extension.”
Peartree Perspective
Two significant target areas characterized by large-scale, gold-in-till geochemical anomalies have been identified on the Éléonore South Joint Venture (ESJV). The ESJV is located in the Eeyou Istchee Territory in the James Bay region of Quebec. Fury owns a 36.72% interest and is operator of the joint venture, while Newmont (NGT-TSX) owns 36.71% and Azimut Exploration Ltd. (AZM-TSX.V) owns the remaining 26.57%. The 147km2 ESJV Property is located only 12km to the south of Newmont’s Éléonore Mine and to the west and south of Sirios Resources Inc.’s (SOI-TSX.V) Cheechoo Gold Deposit (Exhibit 1).
Peartree Perspective
Fury Gold Mines (Fury) is a newly-formed, Canadian-asset focussed, exploration and development company cooking with three flagship Projects. The meat is the flagship Eau Claire Project located in the Eeyou Istchee Territory in the James Bay region of Quebec with an established Resource and massive land package. The Spice is the return to exploration on the Homestake Ridge Gold Project. To-date, a high-grade polymetallic (gold-silver-copper) Resource has been defined at Homestake Ridge and a Preliminary Economic Assessment (PEA) was completed this year. The sizzle is served up with the earliest-stage exploration Project of the three flagships, the Committee Bay Project in Nunavut, where Fury controls a 300km-long prospective belt hosting the high-grade Three Bluffs Deposit.
Fury Gold Mines plans to commence by early November over 80,000 metres of drilling at its three high-grade gold projects. Fury will be fully-funded with over C$20M in the treasury and trade under the ticker FURY on the NYSE and TSX. Fury Gold Mines will be the resultant company of Auryn Resources’ acquisition of Eastmain Resources and will hold three Canadian gold projects: Eau Claire, Committee Bay and Homestake Ridge. The scheduled close for the transaction and launching of Fury is October 9th. Auryn and Eastmain shareholders can vote by proxy by October 1st and the virtual arrangement vote is October 5th. In this interview, Auryn Executive Chairman Ivan Bebek, Fury CEO Mike Timmins and Eastmain CEO Blair Schultz discuss the closing of this transaction as well as the vision and growth plans for Fury Gold Mines.
Fury Gold Mines (Ticker: FURY) CEO Michael Timmins explains how the company plans to double its share price by the end of Q1 2021. Michael stated, “So I think you’re going to see a correction, so that we’d go up and start trading in line with our peer group. So in my view, that’s C$2.25-$2.50. Maybe even up into C$3 is really where we should be trading from a NAV and certainly from market-price perspective on a Canadian basis. And then, as we get active and everything else, we get drill results coming in mid-January, February, our goal exiting Q1 is to have that superior performance per share 3.00, 3.50, $4.00.”
Interview with President & CEO Michael Timmins. Fury Gold Mines is a Canadian-focused exploration and development company strategically positioned in three prolific gold mining regions. Led by management with proven success in financing and developing mining assets, Fury will advance its multi-million-ounce gold platform through potential discovery and acquisition.
Ivan Bebek found time to speak with us and provide an update, on the completed Auryn Resources deal (sponsor). Here’s how it transpired. Auryn acquired Eastmain Resources and became Fury Gold Mines. At the same it spun off its Peruvian assets into two new companies, Sombrero Resources and Tier One Metals.
Fury Gold Mines (TSX: FURY- NYSE AMERICAN: FURY) CEO Mike Timmins joined Steve Darling from Proactive to discuss Fury’s first week of trading after the Auryn/Eastmain transaction closed. Timmins discusses the company’s current valuation and also shared some insight on the two spin out companies, Sombrero Resources and Tier One Metals, which hold the Peruvian assets.
Interview with the new President & CEO of Fury Gold Mines Mike Timmins and Chairman Ivan Bebek. Auryn and Eastmain securityholders overwhelmingly approve the Auryn reorganization and Eastmain Acquisition. New CEO Mike Timmins gives an insight into the next steps at Fury Gold Mines and Ivan Bebek explains the overall strategy of the new created companies.