Fury Gold Mines Limited announced that it has identified a robust geochemical gold anomaly within the same sedimentary rock package that hosts Newmont's Éléonore Mine at the Éléonore South gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The orientation level biogeochemical sampling survey was designed to target an interpreted fold nose within the Low Formation sediments in an area where conventional soil or till sampling was not possible due to the ground conditions. The targeted area exhibited similar geological, geophysical, and structural characteristics to those present at the nearby Éléonore Mine.

The identified anomaly is up to 200x the background value in gold and outlines the folded sedimentary package. The Company intends to complete the biogeochemical sampling program in early summer 2024 with the goal of identifying drill targets for later in 2024. 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.

Two distinct styles of 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 low-grade bulk tonnage Cheechoo deposit with higher grade potential as seen at the JT and Moni prospects on the project. A total of 641 biogeochemical samples were collected at 25 metre (m) intervals along four north-south and two east-west oriented survey lines. The variable spacing of the lines, covering an area of 4.5 by 2.0 kilometers, was designed to better test the interpreted fold structure identified through geophysics.

The survey lines targeted the limbs and the nose of an interpreted fold within a sedimentary rock package with coincident chargeability highs. The biogeochemical survey successfully identified continuous robust gold and arsenic anomalies which followed closely with the geology and geophysics. In addition to the newly identified Éléonore style biogeochemical targets several gold in-till anomalies remain undrilled throughout the project (Figure 1).

These gold in-till anomalies have similar geological and geochemical characteristics to the Cheechoo style of mineralization. Furthermore, the JT and Moni prospects represent a potential higher-grade style of intrusion-related gold mineralization with historical drilling intercepting 53.25m of 4.22 g/t gold (Au); 6.0m of 49.50 g/t Au and 23.8m of 3.08 g/t Au.