Eau Claire

Overview and Highlights

Project Location Map
Project Location Map

Fury owns a 100% interest in the Eau Claire project, which hosts one of five known deposits in the Eeyou-Istchee/James Bay region of Quebec. The largest of these, the Newmont-owned Eleonore Mine, is located only 57 km north of the Eau Claire Project.

Eau Claire Project Highlights:

  • High-grade gold resource
  • Over 24,000 hectares 
  • Mining friendly jurisdiction

Location & Infrastructure

Infrastructure
Infrastructure

The Eau Claire project is located in the James Bay region of Quebec, approximately 800 km north of Montreal and 350 km north-west of Chibougamau. It is immediately north of the Eastmain 1 reservoir and about 10 km northeast of Hydro Quebec’s EM-1 hydroelectric power facility. The Eau Claire deposit is situated at the western end of the property, about 2.5 km from a Hydro Quebec service road. A road accessible exploration base camp is located 5 km from the permanent road network. Drill roads allow seasonal access to portions of the project.

The project benefits from existing infrastructure which includes:

  • Road access and nearby power
  • Camp near the Eau Claire deposit
  • Drill core storage

Project Geology

Regional Geology
Regional Geology

Gold mineralization at the Eau Claire deposit is hosted within broadly EW-trending structurally-controlled, high-grade en-echelon quartz-tourmaline (QT) veins and adjacent altered wall rocks, as well as variable width ESE trending gold-bearing amphibole – biotite - chlorite alteration zones.. The gold bearing vein sets may occur as narrow intervals with tourmaline and develop into thick quartz-tourmaline veins with zoned tourmaline+/-actinolite+/-biotite+/-carbonate alteration halos which can measure up to several metres in thickness. The deposit’s QT veins occur as two distinctly oriented vein sets known as the 450W and 850W zones which form a crescent-shaped body covering a footprint approximately 100 m wide, extending for approximately 1.8 km in lateral extent and to a vertical depth in excess of 900 m. The 450W and 850W zones outcrop on topographic highs and surface stripping has exposed several veins within the deposit. The 450W zone vein set is interpreted to be oriented at N 85°E / 45° to 60°S, plunging steeply to the southeast, sub-parallel to an F2 fold axis. The 850 West Zone vein set is oriented N 60° E, dipping sub-vertically and plunging gently to the southwest. 

Reserves & Resources

Eau Claire Deposit Long Section
Eau Claire Deposit Long Section

The Eau Claire deposit contains resources as listed in the table below: *(refer to NI43-101 report dated February 4, 2018 filed at www.sedar.com)

Table 1: Open Pit and Underground Mineral Resources as of February 4th, 2018(1-6)

 

Open Pit (surface to 150 m)

Underground (150 m – 860 m)

Category

Tonnes

(g/t Au)

Contained Au (oz)

Tonnes

(g/t Au)

Contained Au (oz)

Measured

574,000

6.66

123,000

332,000

6.56

70,000

Indicated

636,000

5.13

105,000

2,752,000

6.27

555,000

Measured & Indicated

1,210,000

5.86

228,000

3,084,000

6.30

625,000

Inferred

43,000

5.06

7,000

2,339,000

6.56

493,000

Eau Claire Deposit – COG Comparisons Underground Resource
Eau Claire Deposit –
COG Comparisons Underground Resource
Eau Claire Infill Drill Program
Eau Claire Infill Drill Program
Eau Claire Intersection Lineation – Down Plunge Extension Opportunity
Eau Claire Intersection Lineation –
Down Plunge Extension Opportunity

(1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimate. Composites have been capped where appropriate.

(2) Open pit Mineral Resources are reported at a cut-off grade of 0.5 g/t Au within a conceptual pit shell and underground Mineral Resources are reported at a cut-off grade of 2.5 g/t Au outside the conceptual pit shell. Cut-off grades are based on a gold price of US$1,250 per ounce, a foreign exchange rate of US$0.80, and a gold recovery of 95%.

(3) The results from the pit optimization are used solely for the purpose of testing the “reasonable prospects for economic extraction” by an open pit and do not represent an attempt to estimate Mineral Reserves. There are no Mineral Reserves on the Property. The results are used as a guide to assist in the preparation of a Mineral Resource Estimate and to select an appropriate resource reporting cut-off grade.

(4) The Inferred Mineral Resource in this estimate has a lower level of confidence that that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

(5) The mineral resources in this Technical Report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM.

 

The Mineral Resource estimate was prepared by P&E Mining Consultants Inc. for the Eau Claire deposit as of February 4, 2018. It is an update to a N1 43-101 Mineral Resource estimate completed for Eastmain and reported on September 11, 2017 (filed on SEDAR under Eastmain’s profile).

 

PEA Highlights:

 

2018 Eau Claire PEA Highlights1

Resource at 0.5 g/t COG OP and 2.5 g/t COG UG

M&I1: 853k oz @ 6.18 g/t Au

Inf1: 500k oz @ 6.53 g/t Au

Mill Au Recovery, %

95

LOM, Years

12 (OP:3; UG 10)

Diluted Grade

OP – 3.78 g/t Au 

UG – 5.24 g/t Au

Prod Rate, pa

79k oz Au 

LOM Production

951k oz Au

Total Capex, C$M

$283M 

($175M initial; $108M LOM sustaining)

After-tax NPV5%

(US$1,250 oz/Au)

C$260M

After-tax NPV5%

(US$1,500 oz/Au)

C$397M

  1. Study at US$1,250 gold and assumes an exchange rate of $0.80 (CAD:USD); Refer to NI43-101 report dated Feb 4, 2018 filed under Eastmain’s profile at www.sedar.com

Exploration

Eau Claire 7 km Deposit Trend
Eau Claire 7 km Deposit Trend

The regional Cannard Deformation Zone hosts or is proximal to several known showings including the Knight, Natel and Clovis; all showings with known gold-quartz-tourmaline mineralization.

The Spider, Eau Claire North and Beluga targets fall within a 6 km radius of the deposit and represent fold axis/fold limb-related gold tourmaline mineralization.

2020 and 2021 exploration work will focus on the Eau Claire deposit trend from Rosemary in the west out to Clovis to the east.  Additional work will look to develop additional drill targets throughout the Clearwater project.

Communities & 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.

News from Eau Claire

Jul 2, 2020

Jan 24, 2020

Oct 3, 2019

Sep 10, 2019

Sep 10, 2019

Aug 13, 2019

Jun 28, 2019

Jun 27, 2019

May 13, 2019

May 13, 2019

Mar 21, 2019

Mar 21, 2019

Feb 25, 2019

Feb 8, 2019

Jan 15, 2019

Dec 21, 2018

Dec 20, 2018

Nov 13, 2018

Sep 10, 2018

Jul 4, 2018

May 23, 2018

Nov 6, 2017

Oct 26, 2017

Sep 11, 2017

Aug 30, 2017

Jul 27, 2017

Jul 13, 2017

Jun 1, 2017

May 16, 2017

Apr 26, 2017

Mar 29, 2017

Mar 6, 2017

Feb 7, 2017

Jan 4, 2017

Dec 1, 2016

Oct 24, 2016

Aug 11, 2016

Jul 26, 2016

Subscribe for Updates