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Fury Gold Dramatically Increases Gold Deposit Size with CEO Tim Clark · Financial Survival Network

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  I think we've basically accomplished everything we said we would do two years ago,
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  including acquisitions, divestments, raising capital, of bringing in new investors. We
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  have a new resource update that shows that, you know, we're close to
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  two million ounces. We could make it there if we want to, and
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  we've got lots of new discovery. Plus we've got this new strategic property with
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  the joint venture. I mean it's it's the Eleanor is going to be sold
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  over the summer by Newmont and a new player is going to come in and
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  there's going to be a lot more attention activity in that in that part of
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  the world. The Financial Survival Network now more than ever, the Financial Survival
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  Network. Welcome. This is Financial Survival Network. I'm your host, Carrie
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  Letz. We are sitting down with Fury Gold mind CEO Tim Clark and chief
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  geologist Brian Atkinson, and I've been looking forward to this. Fury just released
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  your updated resource estimate for oak Clare and your made an estimate for perse of
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  All. So Tim, could you start by explaining the significance of the increased
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  resource estimates at Oaklaire And I would also like to point out your conservative methodology
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  behind these numbers, well, I mean, I'll start it out by I
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  let with Brian run with it, since he was the one who really accomplished
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  this goal and his team effectively. Though, we added five hundred and thirty
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  thousand ounces to the resource that brings us from one point three up to one
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  point eight eight million ounces that show us a pathway to two million ounces,
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  which is sort of really the target that a lot of these companies are looking
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  for. Theoretically, you don't have to get to two million, you just
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  got to show that you've got a real resource that they're interested in buying.
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  And I think what our goal here was to spend a couple of years getting
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  this set up so that it's like fixing your house up ready to be sold.
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  And the idea now is to really go out on the rest of the
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  property and look for some new discovery on top of what we have at perceval.
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  Perceval was two hundred and twenty five or so a thousand ounces, and
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  no one really sort of saw it that much, and it's a real ad
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  If we can find a couple more of those, it would be great.
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  And there's fifteen anomalies out in the property that looked just like it. So
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  just to pass it off to Brian, Brian, why didn't you sort of
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  elaborate a little bit more on the resource itself. Yeah, definitely, carry
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  Yeah, we're pretty excited about it. You know, the numbers came out,
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  you know, at the upper end of the threshold of where we're thinking,
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  and you know, we managed to put a lot of those ounces into
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  the measured indicated category, which you know is the higher confidence sort of level.
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  You know, big increases there of you know, thirty six percent,
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  and then you know the bulk of the added the forty five percent increase in
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  the inferred ounces on the project came from from Percy Bell, which is sort
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  of you know, like Tim just alluded to, the first time that's been
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  put together into to resource. And you know, there's not that much drilling.
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  You know, at the hinge we did just over twenty thousand meters.
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  Throughout the rest of the top deposit we did another twenty thousand meters, and
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  then you know the seventy eight hundred meters that we did at at Percyval.
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  To add these these ounces that we've added, you know, we've also improved
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  the geometry of the veining on the east end of the deposit, the old
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  player deposit, where where we had additional data through the main part of the
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  deposit. We haven't we haven't put any drill balls in there, so we
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  didn't adjust the veins that were previously modeled. But we went from you know,
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  thirty five forty degree dip on the veins to a fifty to sixty five
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  degree dip on the veins. So you're much better geometry for any sort of
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  eventual you know, economic study that goes forward on this, all right,
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  and your methodology you're talking pre call said, you're beyond conservative in many respects.
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  If you were really looking to push this thing, you could have gotten
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  a lot higher. We're looking at nineteen hundred dollars gold, but it seems
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  like where many others are over promising and we'll eventually under deliver, you're the
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  opposite. Yeah. Look, you know, there was there was a historic
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  resource done on this that you know, was you know, was unrealistic,
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  and I think since then, you know, the it's it's battled a bit
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  of that stigma, and now we're back up to that same resource number,
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  and this is a very defensible resource number with you know, half gram open
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  pick cutoffs. We use zero point five to two revenue factor pit edeu Claire,
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  so there's lots of lots of room there. And like I said,
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  all these these ounces, you know, went into the measion indicated category.
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  So nice systematic drilling and doing that, so you know, there's not a
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  big bunch of inferred where we're looking at white spacings on these these high gride
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  veins and you know, like you said, nineteen hundred dollars gold. Nice
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  reasonable cutoff levels and great grades still coming out of it. Right, Like
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  the grades dipped a little bit, but that's largely because of the increase in
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  the open pit and bringing in Percy val as well. Yeah, always better
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  to be conservative and surprise on the upside tip. As far as Eleanor South,
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  how does that fit into the equation based on the resource estimate, Well,
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  it doesn't fit into the resource itself. I think what it does do
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  is it gives us a huge component for new discovery as we think about our
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  project this summer, and the goal is to go up to the joint venture
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  and do a big geochem study on the Eleanor anomaly that we have up there
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  that sits on our side of the border from Eleanor, and we're going to
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  get also some drill results back from the spring that we did in April that
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  we're up near the Cereos side that we're looking and trying to determine how far
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  down that high grade comes onto our property, and so once we get some
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  of those numbers back, we'll be better able to assess it. I think
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  where we are right now is like I said earlier, we don't have to
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  do a lot of drilling at the resource because we now have a real resource
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  that's legit, it's got the numbers, it's got the backing, and we
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  can focus on new discovery, which will include some of the stuff on our
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  property to declaire, but as well as the joint venture up north. And
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  I think that's what a lot of people are asking. It's interesting to some
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  people asking me about the serial side and then others are asking me about the
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  alien Or side. Everybody has their sort of favorite pick. We're it's fourteen
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  thousand hectors. We're going to get to it. We just don't need to
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  spend as much money this year because we've got our resource now. And you
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  know, one of the things that Brian said to me when we got our
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  numbers back. Was this third party vendor that we use to do the assessment,
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  you know, made a nice comment saying we don't typically see these kind
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  of resources in Quebec. This is a big resource for Quebec, and it's
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  high grade. And I've looked and done some comparison to some other companies that
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  are much higher value than ours, and we have a higher grade, more
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  ounces, and they might be up in the mountains and we're along power and
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  roads. It's a huge difference. This is legit. Companies should be looking
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  at us because we're not cut off in any direction and we've got a lot
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  more to do, speaking of which, Brian. So basically it's open in
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  all directions this resource. There's no constraints here. Physical constraints. Yeah,
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  no, it's it's sort of amazing. You know, some of the last
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  holes we put out last year, you know, at three and a half
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  meters of seventeen point six grams three and a half meters of thirty two point
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  six grams, those were in a new structure that those are the only two
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  holes into that our westernmost hole on the Hinges wide open. We brought in
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  some ounces into the gap, but that's still still wide open. And then
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  on the east extension again it's you know, it sounds cliche to say it's
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  open in all directions, but legitimately, our boundary holes are all open and
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  we haven't even you know, assessed the further depth potential below you know,
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  where it's drilled below six hundred and fifty meters below surface now, so there's
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  there's lots of additional space here to keep expanding this, right so for future
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  drilling. So you kind of have to make some decisions, uh obviously,
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  because there's so much potential in every direction. Where where do you think the
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  best potential is here? Brian no. I think what we're going to focus
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  on is you know, finding some you know, a new discovery out there,
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  you know, looking at some of these anomalies that we have out between
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  Percy Val and and up up to the north to Serendipity, and then also
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  at at the ellen Or target that we have on the llen Our Salth project.
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  So it's going to be more focused on that the resource is open.
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  Uh, you know, we can we can go in there and drill some
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  shallow bowls in it, but that's you know, that's natative process to show
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  further growth and and that whereas if we can go out and make another new
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  discovery and add you know, sort of show showcase, you know, another
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  Percy val Or or something like that sitting out there or loan and behold we
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  get lucky on the ellen or anomaly. You know. I think that's that's
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  going to be our focus, is going out there and finding something new as
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  we go forward. Here. The other thing, Carrie is we're going to
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  spend a two hundred thousand and go back up to Nunavan. We get a
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  lot of interest from the producers last fall looking at our asset up in Committee
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  Bay, and so we've got to go back up and open up the camp
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  anyway, So we're going to do a small survey project up there that I
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  think, you know, investors should take interest because you know, for the
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  last few years there wasn't a lot of interest in taking big swings. But
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  with goal price now the bigger companies are starting to look again, and we're
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  going to be prepared and ready to market that. That's a historical spend of
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  a couple hundred million dollars up there and work, and we get zero value
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  for it in the stock and it would take one caa agreement and an investment
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  of ten million bucks to rerate that thing pretty quick quickly up there. And
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  then on this allan Or property, we're going to spend quite a bit on
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  a geokem project in May, and that's going to give us some real targets
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  in this anomaly. Is this is sort of the same signature and size that
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  the ler in our mind is built upon, so it could be a big
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  swing there. And yeah, well we're you know, we're going to be
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  working out of our regular camp, so we're going to have a helicopter to
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  be able to go to a bunch of these sites in Brian as a list
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  of his highest priority targets, and we're going after the best ones getting to
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  finances. You know, it always struck me the theory has been kind of
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  this raging value play where you know, you're holding shares in Dolly Vard and
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  Silver and they've gone up and you know, the enterprise value less your cash
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  in the bank. I mean, you're trading at peanuts here. Yeah,
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  so you know it's that's is pretty amazing and I I've been trying to explain
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  it, but to myself, I think a lot of it was because people
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  assume that we're just this derivative of Dollar Varden and they're more liquid, you
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  know. The irony and we look, we're a huge fan of Dolly Varden.
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  The irony is every ten cents increase in their in their stock price,
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  our value of their shares goes up by five point four million dollars. We
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  have fifty four million shares. It's over fifty five million dollars right now.
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  Our market caps at seventy five or eighty. We got five million dollars in
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  the bank. We've got historical spending in the hundreds of millions of dollars on
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  our property, and we're getting paid, you know, twenty million bucks in
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  enterprise value. It's crazy. The crazier part is you look at like some
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  of these companies, they're valued in hundreds of millions of dollars, and we
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  have more ounces, better quality, and better access. And it's just the
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  difference between in the silver play and the goal play. But it's going to
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  come around at some point, and a lot I get a lot of questions
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  about Dolly Varden, and you know, look, they're surrounded by Hackla,
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  the natural buyer. They've got twenty five million bucks in the bank that does
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  spend this summer, we could see some activity, especially with silver is going
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  up and gold's going up. We are going to get re rated and this
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  is probably the best value play out there in the sector. And we're the
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  best financed junior out there by far, and so there's not as much risk
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  with us, and you've got a lot of potential swings with our multiple properties.
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  Yes, it's crazy, and you've got an updated resource that justifies a
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  valuation in its own right. I think we traded like fourteen dollars announce,
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  and some of these other players are trading I think, you know, in
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  the twenties and some of them in the one hundred and why I know the
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  silver plays are some of them were one hundred and fifty dollars announced on gold
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  equivalent basis. It's it's a trade for them, but I think they're like
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  I've been in capital markets a long time and eventually people discover these things,
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  and when they do, it's pretty it's it's pretty fun because they'll rip,
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  and I think I think we're positioned for that. Positioning is everything. And
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  I remember if somebody once said to me that he who Waits gets everything right.
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  Well, we were trying to be patient and we're just doing a lot
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  of good blocking and tackling. I think we've basically accomplished everything we said we
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  would do two years ago, including acquisitions, divestments, raising capital, bringing
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  in new investors. We have a new resource update that shows that you know,
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  we're close to two million ounces. We could make it there if we
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  want to, and we've got lots of new discovery. Plus we got this
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  new strategic property with the joint venture. I mean, it's it's that Eleanor
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  is going to be sold over the summer by Newmont and a new player is
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  going to come in and there's going to be a lot more attention activity in
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  that in that part of the world. And it's a great part of the
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  world, as investors pointed out to me when I was in New York yesterday,
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  that it's one of the top two jurisdictions in the world to be mining
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  because of the support of the government. You don't want to be in these
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  emerging markets with this political scene right now. All of our assets are spread
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  across Canada and there's going to in my opinion, there's going to becoming consolidation
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  at these higher goal prices, and we sit all our properties are big properties,
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  and they sit next to all these majors with HECLA at Nico Newmont and
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  and as I spoke to some one of these big gold CEOs last December,
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  I said, what do you do in an inflation inflationary environment? And they
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  said that the answer is easy. You consolidate and you buy more land,
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  so you don't have to build five roads, you build one. You don't
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  build five mills, you build one. And so my view is that junior
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  space is up for consolidation. And we've got a lot of attractive things,
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  including you know, a big slug of you know, Dolly stock that can
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  be monetized. So you know, it's it's a good play, right and
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  you're in the position where you don't have to dilute to raise capital when when
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  it becomes necessary, well we get right now, we got five million bucks
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  and we've got some left overflow, and we can pretty much do everything we
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  need to do without raising any money right now. Yeah, So that's an
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  enviable position for a junior to be in. Many others are scurrying trying to
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  figure out how to negotiate this really complex landscape here. So Brian looking ahead
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  here when the drill is going to start turning. Yeah, we're hoping,
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  you know, mid mid sort of June. Right now, we're in a
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  sort of a time period that's called Goose Break in Quebec, so that stretches
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  from April twentieth to May twentieth, and then we're we're hoping to mobilize and
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  get going here by mid to late June. And yeah, targets are ready
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  to go, plans in place, and we're going to focus on completing the
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  biogeochemical grid or a top of the ellen or target so that we can have
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  those drill targets ready permitted and ready to go and hopefully drilling those in the
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  late summer to early fall here. All right, sounds great, Well,
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  appreciate you both coming on, gentlemen. The ticker symbol, of course is
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  Fury, both in the US and Canada. The website is a Feury gold
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  Mines dot com. Make sure you go there sign up for notifications. I
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  have a feeling they're going to be coming fast and furious. We'll talk to
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  you again soon. Thanks Tim, Thanks Brian, Thanks Kyary. The Financial Survival Network