Past year: ▼ 9%(74.0c – 1.06 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
18 May 2021drilling result▲ GoodMajor
Four of five holes into the Snake Lake structure a kilometre east of the resource returned 0.5 metres of 94.1 g/t gold, extending high-grade mineralisation 840 metres down dip, and 2 metres of 7.51 g/t gold from a 150-metre step-out. A new mineralised horizon between Eau Claire and Snake Lake also gave 0.5 metres of 19.6 g/t and 5 metres of 2.85 g/t gold. Very high grades over very short widths.
20 Apr 2021drilling result▲ GoodMajor
Step-outs of 50 to 100 metres on the eastern edge of the resource returned 3 metres of 8.87 g/t gold and 1 metre of 59.3 g/t gold in hole 21EC-013.
12 Apr 2021drilling progress report▲ Good
Identified two new targets below the 850 zone on the western limit of the Eau Claire resource, derived from lithogeochemistry that placed individual rock packages within the anticline controlling the deposit. This is the work that later becomes the Hinge target, the most productive ground the company drills.
30 Mar 2021drilling result▲ GoodMajor
Three more step-out holes on the same structure that gave January's 2.59 g/t intercept returned 1.0 metre of 15.3 g/t gold and 1.5 metres of 8.8 g/t gold, extending the deposit footprint 600 metres east. Narrow but high grade, and a quarter of the way through the programme the deposit is already demonstrably longer than it was bought as.
1 Mar 2021drilling result▲ GoodMajor
First assays from the 25,000-metre resource-expansion and infill drilling at Eau Claire: 6.04 metres of 11.56 g/t gold and 2.51 metres of 8.87 g/t gold, both from outside the defined resource in the lower eastern part of the deposit.
17 Feb 2021drilling progress report● Neutral
Planned 5,000 to 10,000 metres at Committee Bay for summer 2021, subject to COVID limits: the Raven vein target on an 8-kilometre shear zone, a conductor below the high-grade part of Three Bluffs, and surface work on the Aiviq-Kalulik corridor. Fury's first drilling on the belt since the 2019 programme that reported no intercepts.
10 Feb 2021drilling progress report▲ Good
Named Percival, 14 kilometres east of Eau Claire, as the first regional target for summer work. Percival was drilled in 2018 by Eastmain, returning 78.5 metres of 1.46 g/t gold and 87 metres of 2.35 g/t gold from surface over a footprint 400 by 100 metres - wide, moderate-grade sediment-hosted breccia, a different style from the Eau Claire veins.
2 Feb 2021drilling progress report● Neutral
Planned 25,000 metres at Homestake Ridge for summer 2021, aimed at expanding the resource and converting the Homestake Silver deposit's large inferred component to indicated - the largest campaign the project had seen. The programme never appears again in the record; ten months later the project is under agreement to be sold.
25 Jan 2021drilling result▲ GoodMajor
The first exploration hole, testing a 660-metre step-out from the Eau Claire resource, hit 3 metres of 2.59 g/t gold within 8 metres of 1.21 g/t at about 645 metres depth. Modest grade, but in the same quartz-tourmaline veining and amphibole alteration that hosts the deposit, which is what makes it evidence the system continues rather than a stray intercept.
13 Jan 2021drilling progress report● Neutral
Six holes and 3,646 metres into the 50,000-metre programme, with the first infill assays and the first 600 metres of the step-out hole still pending. Two months of drilling with nothing reported yet.
25 Nov 2020drilling progress report● Neutral
Moved from infill into the exploration phase of the Eau Claire programme, testing a one-kilometre down-plunge extension. Three holes drilled, assays expected in the new year.
9 Nov 2020drilling progress report▲ GoodMajor
Started the 50,000-metre drill programme at Eau Claire within a month of the company's formation, testing the down-plunge extension, new targets along the deposit trend and infill at the southeast margin.
29 Oct 2020drilling progress report● Neutral
Set out the targeting for the 50,000-metre Eau Claire programme: a one-kilometre down-plunge extension of the deposit plus untested targets along a seven-kilometre trend, with a second rig joining two weeks after the first.
19 Oct 2020drilling progress report▲ GoodMajor
Received the Quebec forestry permit for the first 22 drill pads at Eau Claire, ten days after the merger closed, clearing the way for a fully funded 50,000-metre programme starting in the first week of November. The contrast with Peru is the point: permits there had been pending for eight months and never arrived before the assets were spun out.
29 Sept 2020drilling progress report● Neutral
Set out twelve refined Committee Bay targets along the Kalulik-Aiviq corridor and around Three Bluffs, for a 2021 summer programme. This is the third round of target generation on the belt since the machine-learning exercise of early 2019, with no discovery yet to show for the two before it.
22 July 2020resource reserve update● Neutral
Refiled the Homestake Ridge technical report, amended and restated 24 June 2020 from the 29 May version.
17 June 2020drilling progress report● Neutral
Peru's government cleared the company to resume work at Sombrero and Curibaya after COVID-19 restrictions. Management acknowledged the pandemic had lengthened the permitting process - the Sombrero drill permit, expected in early 2020, was still outstanding.
29 May 2020resource reserve update● Neutral
Filed the MineFill technical report carrying the Homestake Ridge resource update and economic study, effective 29 May 2020.
20 May 2020drilling progress report● Neutral
Reworked the Committee Bay targeting by separating the geophysical conductivity signatures of high-grade from low-grade mineralisation, reviving targets where past drilling had never explained the high-grade surface occurrences. A targeting update, not assays - and an implicit admission that four years of drilling on the belt had not yet found the source.
15 Apr 2020resource reserve update▲ GoodMajor
First economic study on Homestake Ridge in British Columbia: after-tax net present value of US$108 million and a 23.6% return at US$1,350 gold, on US$88 million of pre-production capital, a 13-year life at 900 tonnes a day producing 590,040 gold-equivalent ounces at all-in sustaining costs of US$670 an ounce. The accompanying resource update - 736,000 tonnes indicated at 7.02 g/t gold and 5.5 million tonnes inferred at 4.58 g/t - carries higher grades on fewer tonnes than the 2017 estimate, with total metal roughly unchanged. Four-fifths of the ounces are still inferred.
28 Feb 2020drilling result▲ Good
Mapping and sampling found a new Curibaya zone a kilometre northeast of earlier work grading up to 946 g/t silver and 1.96 g/t gold, plus a loose float sample 800 metres further out at 42.6 g/t gold and 9,180 g/t silver. A float sample has no known source, so it is a pointer rather than a measurement; the mapped alteration system is now 4 by 4 kilometres.
10 Feb 2020drilling progress report▲ GoodMajor
Received the DIA environmental permit from Peru's Ministry of Energy and Mines for Sombrero, covering 1,031 hectares and allowing up to 33 holes from 23 platforms at the Ccascabamba Sombrero Main target. It is not yet a licence to drill: the Inicio de Actividades authorisation, which includes a formal community consultation with Huanca Sancos, was only filed the week before.
17 Jan 2020drilling progress report▲ Good
Uranium-lead dating of five samples from diorite sills at Sombrero returned ages of 38.85 to 40.47 million years, placing the mineralisation in the same Eocene event that produced Las Bambas and extending that belt over 100 kilometres further west. Supports the geological thesis; adds no metal.
14 Nov 2019drilling result▲ GoodMajor
Further Curibaya rock samples returned up to 7,990 g/t silver, 17.65 g/t gold and 6.97% copper, extending the high-grade zone 1.5 kilometres west of the October results. Three over-limit samples re-assayed at 1,630, 1,855 and 3,110 g/t silver.
28 Oct 2019drilling result▲ GoodMajor
First rock sampling at Curibaya's Sambalay and Salvador concessions returned more than 20 samples above 200 g/t silver, several over 1,500 g/t and gold up to 7.67 g/t, across a 1.5 by 3 kilometre alteration system. Surface samples in a belt that hosts Cerro Verde, Cuajone, Toquepala and Quellaveco - proximity is not a deposit, but it explains why the market paid attention.
17 Oct 2019drilling progress report▲ Good
Staked a further 8,500 hectares at Sombrero North, called Macha Machay, where stream-sediment copper runs 1.5 to 3.5 times higher than at the Sombrero Main, Nioc and Good Lucky targets. Land keeps growing while the drill permit does not arrive.
9 Oct 2019drilling progress report● Neutral
Began work at the wholly owned Curibaya project in Tacna province, southern Peru, upgrading road access before mapping and rock sampling on the newly acquired Sambalay and Salvador concessions, where historical sampling ran up to 13.5% copper, 23.6 g/t gold and 14,180 g/t silver. A drill permit application was planned for the first quarter of 2020.
30 Sept 2019drilling result▲ Good
First-pass mapping and grab sampling at the Ccello prospect in the southern Sombrero district returned silver up to 981 g/t from massive silica structures along a 500-metre zone inside a 2 by 1.5 kilometre alteration system. Grab samples are selective by nature; this identifies a system, not a grade.
8 July 2019drilling spud● NeutralMajor
Started the roughly 3,000-metre Committee Bay drill programme on targets chosen by the machine-learning exercise, the first test of whether that approach finds anything. No results release from this programme is in the cached record; the quarterly filed four months later describes 2,700 metres drilled and 'a new gold-bearing hydrothermal system' without quoting a single intercept.
18 June 2019drilling progress report● Neutral
Will drill about 3,000 metres at Committee Bay in July, testing four of the twelve machine-learning targets, concentrated on the Aiviq and Kalulik zones where 2018 holes hit sulphidised iron formation. The release also notes it is still waiting on drill permits at Sombrero, which will take another eight months to arrive.
