Fifteen robust gold anomalies have been identified along a previously unidentified structural orientation through the recently completed biogeochemical sampling program, which covered six and a half kilometres of prospective folded stratigraphy. These 15 targets will be the focus of further exploration as the Company prepares to complete a ground based induced polarization geophysical survey to image the sulphide-rich silica breccia gold-bearing bodies at Percival.
'Percival has been a priority target for Fury since the acquisition of
Percival Prospect
The Percival prospect, located 14km east of the
One of the newly identified gold occurrences is located approximately 500 m east of the Percival showing and is associated with a parallel steeply dipping fold hinge where a single 2019 drill hole ended in 12m of sulphidized and silicified breccia typical of the alteration and mineralization envelope associated with the gold mineralization at Percival. The silicified and sulphidized gold-bearing breccia found at Percival is surrounded by a visually similar looking barren silicified and sulphidized envelope. The 2019 exploration drill hole, ending in the silicified and mineralized breccia, needs to be extended to verify if, like at Percival, the gold-bearing 'core' is present.
Previous surface exploration in the Percival and Caradoc area was focused on a highly magnetic folded iron formation identified from an airborne magnetics survey. An updated interpretation and geologic model of the 2018-2019 drilling data from the Percival prospect shows that gold mineralization is peripheral to the magnetic iron formation and not hosted in it.
Through the interpretation of the magnetics data and results from the biogeochemical survey Fury's technical team identified a previously unrecognized structural control to the gold mineralization along the Percival trend. This structural trend is parallel to the regional fold hinge that links the Percival and Serendipity prospects. Gold mineralization appears to be concentrated along these newly identified structures where they intersect folded mafic volcanic stratigraphy along the east west limb of the regional fold proximal to the Cannard deformation zone.
'We are excited to have made several significant advances in our ability to target the style of mineralization present at Percival, which has resulted in 15 discrete targets for further follow up. The geophysical surveys we are currently completing will provide key information that will fingerprint the known Percival mineralization throughout the 15 targets prior to drilling,' stated
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Forward-Looking Information and Additional Cautionary Language
This release includes certain statements that may be deemed to be 'forward-looking information' or 'forward-looking statements' within the meaning of applicable securities laws, which relate to the future operations of the Company and other statements that are not historical facts. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes'. Specific forward-looking information contained in this release primarily relates to statements that suggest that future work at
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Readers should refer to the risks discussed in the Company's Annual Information Form and MD&A for the year ended
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