Fury Gold Mines Limited reported a 11.74 g/t gold intercept over 6.63 m in infill drill hole 26EC‑099, located 40 m down‑plunge from the previous drilling at its Eau Claire project in Quebec. The high‑grade intercept confirms the continuity of mineralization within the deposit’s inferred zone.
The Phase 1 infill program comprised 21 holes totaling approximately 12,700 m, with assay results for 5,550 m. Seven holes produced significant results, underscoring the deposit’s robust geology and the effectiveness of the drilling strategy.
Phase 2, a fully financed program, will add 15,000–25,000 m of drilling and is expected to run through the spring and summer of 2026. The goal is to convert inferred resources to indicated and measured categories and to extend the deposit, moving the project closer to economic feasibility.
CEO Tim Clark said, "Drilling at Eau Claire continues to reinforce resource continuity, confirming mineralization remains well‑developed and predictable within the deposit. Importantly, the program shows the potential to grow the deposit between resource blocks (the Gap Zone) in shallow previously untested areas, and we look forward to continued drilling to further de‑risk and expand Eau Claire as we unlock additional value for shareholders."
The intercept supports the preliminary economic assessment released in September 2025, which projected an after‑tax NPV5 of $554 million, a 41% IRR, an 11‑year mine life, and an average annual production of about 76,000 oz. Fury’s strong liquidity position—more cash than debt—provides the financial flexibility needed to fund the Phase 2 expansion and to sustain exploration momentum. The company will report its next earnings on March 20, 2026, providing further insight into its financial health and exploration progress.
Investors have responded cautiously, focusing on the company’s ongoing losses and lack of revenue, which tempered enthusiasm for the drilling results. Nonetheless, the high‑grade intercept and the launch of a fully financed expansion program are viewed as positive steps toward de‑risking the project and enhancing its long‑term value.
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