Feb 6, 2021
Big things are happening at Fury Gold Mines (sponsor) and the excitement of CEO Michael Timmins and SVP of Exploration Michael Henrichsen is contagious. At the Eau Claire project, Timmins said, “We are very pleased to have hit gold mineralization in our first significant step-out…” The hole was drilled down plunge at 660 meters and yielded 3m of 2.59 g/t, a significant extension. So significant were the results, the team has moved a second drill rig to the site to advance the discovery. Henrichsen is looking to double the project's scale. The next target is even further out and if they achieve similar or better results, we’ll know they’re on to something really major. It’s all part of the 50,000 meter drill program that’s yielding results.
Fury has three major projects underway, Eau Claire, Homestake Ridge and Committee Bay. Homestake currently has a 25,000 meter drill program underway and Henrichsen believes there's been a game changer there as well. Timmins emphasizes that this degree of optionality is going to pay off big for shareholders. It’s part of a deliberate strategy, which when combined with the world-class team should yield big finds in the not too distant future. When one of projects succeeds, the profit to shareholders will be substantial, if all three are winners, we can only imagine the pay-off.
Fury’s share price has responded accordingly. Now that the merger/spin-off from Auryn Resources is past and has been fully digested by the market, Timmins believes that the $3.50 share price target is well within reach. And with an exploration team, headed up by Henrichsen, former Newmont structural geologist with many successes under his belt, there’s little doubt that there's more to come. That’s why we own the shares.
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