Committee Bay

Overview & Highlights

Project Location Map
Project Location Map

Fury Gold Mines owns a 100%* interest in the Committee Bay gold project located in Nunavut, Canada.

Committee Bay Gold Project Highlights

  • High-grade gold endowment and an established resource
  • Existing exploration infrastructure
  • Mining friendly jurisdiction
  • Over 270,000 hectares with district scale discovery opportunities
  • Major mine development underway in the area

*The Committee Bay project is held 100% by Fury subject to a 1% Net Smelter Royalty (“NSR”) on the entire project and an additional 1.5% NSR on a small portion of the project. The 1.5% NSR is payable on only 7,596 hectares and is buyable within two years of the commencement of commercial production for $2,000,000 for each one-third (0.5%) of the NSR

Use of Artificial Intelligence for Targeting - Video

Narrated by Fury’s SVP of Explortation, Michael Henrichsen.

Location & Infrastructure

Mining Jurisdiction
Mining Jurisdiction
Heavy Equipment
Heavy Equipment

The Committee Bay Gold Project is located in Nunavut, Canada. It includes over 270,000 hectares situated along the Committee Bay Greenstone Belt (CBGB).

The CBGB occurs approximately 180 km NE of Agnico Eagle Mines’ Meadowbank mine and extends more than 300 km northeast to the shores of Committee Bay, within Nunavut Territory of the Canadian mainland.

The project benefits from existing infrastructure, which includes:

  • Bulk storage fuel facilities
  • 5 high-efficiency drill rigs
  • Heated drill water system
  • Heavy equipment on site
  • 100-person camp at the Three Bluffs deposit area and two satellite camps in the SW of the belt

Project Geology

Committee Bay Project Geology

The Committee Bay gold project includes over 270,000 hectares situated along the Committee Bay Greenstone Belt (CBGB).

The CBGB comprises one of a number of Archean aged greenstone belts occurring within the larger Western Churchill province of north-eastern Canada. The character and history of rock packages, and the timing and nature of mineralization occurring within the CBGB is considered to be equivalent to that of other significant gold bearing Archean greenstones within the Western Churchill Province, which hosts deposits such as Meadowbank and Meliadine.

Reserves & Resources

High-grade gold occurrences are found throughout the 300 km strike length of the Committee Bay Gold Bet with the most significant being the Three Bluffs deposit that contains resources as listed in the table below: *(refer to NI43-101 report dated May 31, 2017 filed at www.sedar.com)

Table 1: Update Mineral Resources for the Three Bluffs Deposit as of May 31, 2017

Class Type Cut-Off
(g/t Au)
Tonnes
(000 t)
Gold Grade
(g/t Au)
Contained Gold
(oz Au)
Indicated Near Surface 3.0 1,760 7.72 437,000
  Underground 4.0 310 8.57 86,000
  Total   2,070 7.85 524,000
           
Inferred Near Surface 3.0 590 7.57 144,000
  Underground 4.0 2,340 7.65 576,000
  Total   2,930 7.64 720,000
Notes:
1. CIM definitions were followed for Mineral Resources.
2. Mineral Resources are estimated at cut-off grades of 3.0 g/t Au for open pit and 4.0 g/t Au for underground.
3. Mineral Resources are estimated using a long-term gold price of US$1,200 per ounce, and a US$/C$ exchange rate of 1:25.
4. Nominal minimum mining widths of five metres (near surface) and two metres (underground) were used.
5. Numbers may not add due to rounding.
6. Cautionary Note to U.S. Investors, please see the following link: 
SEC Cautionary Language Rider for Mining Disclosure

The Mineral Resource estimate was prepared by RPA for the Three Bluffs deposit as of May 12, 2017. The Mineral Resource is based on work by RPA in 2013 and new cut-off grades based on updated metal price, exchange rate, and operating costs.

Three Bluffs deposit remains open for expansion both along strike and at depth and is considered to have excellent exploration upside to significantly increase the resource base within 5km of the currently defined deposit trend.

Long Section of Three Bluffs Resource

Exploration

Communities and the Environment

Fury Gold Mines understands the shared value that mining can bring but also understands its risks and the importance of responsible and sustainable development. The company strives to maintain the highest standards of environmental protection and community engagement throughout all of its projects.

Fury is focused on bringing this shared value approach to the arctic.

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