Fury Samples High-Grade Lithium from Outcrop at Éléonore South

TORONTO, ON / ACCESSWIRE / October 7, 2024 / Fury Gold Mines Limited (TSX:FURY)(NYSE American:FURY) ("Fury" or the "Company") is pleased to announce results from multiple lepidolite and spodumene-bearing pegmatite outcrops within the western claim block at its 100% owned Éléonore South gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The outcrop sampling program targeted the historical Fliszar showing lepidolite bearing pegmatite as well as new rock exposures over an area of approximately 1000 x 500 metres (m) resulting in the collection of 34 samples (Figure 1). Seven samples returned high-grade values above 1.75% lithium oxide (Li2O) with a peak value of 4.67% Li2O (Figure 1; Table 1).

"Éléonore South continues to be a high-priority project in our portfolio, with its multiple avenues for new discovery on the property. Today we are excited to include discoveries of high-grade lithium at the project," commented Tim Clark, CEO of Fury. "These results add to our confidence that we can continue to find new ways to add value to investors. At the moment, we are eagerly awaiting the results from our summer biogeochemical sampling program targeting the highly prospective Éléonore style anomaly at Éléonore South and the surficial sampling program conducted at Committee Bay."

Éléonore South Project
The Éléonore South project is strategically located in an area of prolific gold mineralization with Newmont's Éléonore Mine to the north and Sirios' Cheechoo deposit to the east (Figure 1 inset). Two distinct styles of gold mineralization have been identified to date; structurally controlled quartz veins hosted within sedimentary rocks, similar to the high-grade mineralization observed at the Éléonore Mine; and intrusion-related disseminated gold mineralization, similar to that seen at the lower-grade bulk tonnage Cheechoo deposit with potential for higher grades hosted in stockwork quartz veining as observed at the JT and Moni showings.

The western claim block of the Éléonore South project has been relatively under-explored compared to the main claim block. Lepidolite-bearing pegmatite outcrops at the Fliszar showing were first discovered by Quebec Government geologists in 2006, and since that time, little to no exploration work to expand the occurrence has been completed. The 2023 forest fires in the area significantly increased outcrop exposure leading Fury's technical team to revisit the historical showing and explore the area in general. Lithium mineralization in both lepidolite and spodumene bearing pegmatites has now been defined over an approximate area of 1000 x 500 m. Further systematic exploration work will be carried out by Fury in order to define the overall Lithium potential of the western claim block.

"The potential for our Éléonore South project continues to expand with every work program completed. Not only do we have two styles of gold mineralization to explore for on the project, but with today's results, we can add high-grade lithium to our targeting matrix. Fury's focus remains on the gold potential of the Éléonore style target and we are awaiting the results from this summer's biogeochemical sampling program to finalize drill targets where we see the same geological and structural setting which hosts Newmont's Éléonore Mine 10 kilometres to the north," stated Bryan Atkinson, P.Geol., SVP Exploration of Fury.

Table 1: 2024 Rock Éléonore South West Block Rock Samples