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).
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.