The Company has staked claims along the Gibson MacQuoid greenstone belt, located in Nunavut, Canada. The belt lies approximately 125 km from Baker Lake and 136 km from Rankin Inlet. Fury’s 66 claims are located between the Meliadine deposit and Meadowbank mine and encompass approximately 52 km of strike length on the prospective greenstone belt, collectively totalling 51,622 hectares.
The Gibson MacQuoid Greenstone belt is one of a number of Archean aged greenstone belts located in the Western Churchill province of north-eastern Canada. The character and history of the rock packages as well as the nature and timing of deformation in the GMB is considered to be equivalent to other significant belts within the Western Churchill province. These gold bearing Archean greenstone belts host deposits such as the Meadowbank, Amaruq and Meliadine deposits. In particular, the highly magnetic signature of the GMB is consistent with the other productive greenstone belts in the eastern Arctic that host large-scale gold deposits.
The Company has conducted the first systematic gold exploration on the belt with a regional till survey that has identified a number of gold in till anomalies. Previous work was limited to short reconnaissance rock sampling programs conducted by Comaplex Minerals during 1989 and 1993. Up to 12 g/t gold was found in quartz veins, as a result of these programs, in an area that is within Fury’s claims.