Éléonore South JV

Overview

Fury owns a 36.7% interest in the Éléonore South JV project, Newmont owns 36.7% and Azimut Exploration owns the remaining 26.6%. It is located in the Eeyou-Istchee/James Bay region of Quebec approximately five kilometres south of Newmont’s Éléonore mine property, which hosts the +5 million-ounce Roberto gold deposit. The Éléonore mine geology has been interpreted to extend onto the Éléonore South property. Fury currently acts as manager and operator of the joint venture on behalf of the partners.

Éléonore South JV Highlights:

  • Exploration stage
  • Interpreted geological extension from the adjacent Newmont's Éléonore mine
  • Host to the same mineralized tonalite body as Sirios Resources' Cheechoo Deposit
  • Over 14,700 hectares

Location & Infrastructure

Éléonore South JV Location
Éléonore South JV Location

The Éléonore South JV project is located in the James Bay region of Quebec. It is accessible by helicopter and float-equipped fixed wing.

The project benefits from existing infrastructure which includes:

  • Exploration camp
  • Core storage
  • Proximity to all-weather road
  • Winter trail into camp

Project Geology

The late (2.61 billion-year-old) Cheechoo tonalite is interpreted to be a mushroom shaped intrusion with a 450 to 500 m thick, roughly tabular top having a shallow to moderate dip to the south along its southern contact and a moderate dip to the west along its western contact (JT Prospect area). The Contact Trend is interpreted to represent a decompression stockwork zone close to the top of the intrusion. This mineralized zone may extend downwards, parallel to, and below, the contact with the overlying metasedimentary country rocks.

Numerous indicators suggest this tonalite-hosted corridor corresponds to a large-scale late-magmatic hydrothermal system. These include the presence of local hydrothermal breccia, sheeted veins, extensive and significant intervals of pervasive silicification and albite alteration. Variable amounts of biotite, albite and actinolite alteration along with low levels of disseminated pyrite (py), pyrrhotite (po) and arsenopyrite (aspy) are also present. This type of alteration and sulphide mineralization correlate to results reported by Sirios nearby in the Cheechoo tonalite. Gold commonly occurs as small discrete visible gold grains.

Exploration

ESJV Historical Drill Highlights from the Moni and JT Zones
ESJV Historical Drill Highlights from the Moni and JT Zones
2021 Targeting and Work Plan
2021 Targeting and Work Plan

The focus for exploration has been on the east sector of the property in the metasediment and tonalite contact, at the Moni and Contact showings. 

Highlights to-date from drilling at Éléonore South include:  4.88 g/t Au over 45.0 m (Moni); 1.02 g/t Au over 92.0 m (Contact trend), including 7.36 g/t Au over 8.2 m (ES19-157) and 7.44 g/t Au over 9.7 m (Contact trend), including 63.2 g/t Au over 0.8 m, at 111 m vertical depth (ES19-156). 

Highlights from surface channel sampling include 79.6 g/t Au over 4.25 m and 79.5 g/t Au over 5.87 m.  Boulder samples have returned assays up to 1,500 g/t Au. 

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.

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