Fury Gold Mines Discovers Lithium-Rich Pegmatite at Elmer East Project in Quebec

Fury Gold Mines announced drill results from its Elmer East project in Quebec, Canada. The maiden drill program, totaling 825 meters in 5 holes, targeted a spodumene-bearing pegmatite outcrop. Highlights include 32.35m of 1.16% Li2O and 22.48m of 1.19% Li2O. The lithium mineralized spodumene-bearing pegmatite remains open at depth and along strike, warranting additional drilling.

Fury Gold Mines (TSX/NYSE: FURY) has announced significant drill results from its maiden drilling program at the Ninaaskumuwin lithium discovery on the Elmer East project in Quebec, Canada. The drilling campaign, consisting of 825 meters across 5 holes, revealed impressive intercepts including 32.35 meters of 1.16% Li2O and 22.48 meters of 1.19% Li2O. The discovery is located on Fury's 100% owned Elmer East project, spanning 45,735 hectares, and is situated approximately 50 kilometers north of Rio Tinto's Galaxy Lithium project.

The spodumene-bearing pegmatite has shown potential for a 3.8-kilometer strike length, with surface samples returning values up to 3.92% Li2O. The mineralization remains open at depth and along strike, with vertical continuity confirmed to 150 meters below surface. Fury's initial drilling confirms significant lithium mineralization at the Ninaaskumuwin discovery with excellent grades and thickness, enhancing the company's value.

The thickness of the mineralized intervals exceeds 32 meters in three different holes, which is substantial for pegmatite-hosted lithium deposits. The drill program has confirmed vertical continuity of mineralization to 150 meters depth while remaining open for expansion. The geophysics and mapping suggest a potential strike length of 3.8 kilometers, of which only a small portion has been tested. The mineralogy described—coarse spodumene crystals averaging 2×5 cm and reaching up to 2×15 cm—indicates a highly evolved pegmatite system favorable for lithium concentration. The distribution of spodumene appears consistent throughout the pegmatite, which is positive for potential resource development.

From a strategic standpoint, the property's location is exceptional, being just 60 kilometers from established infrastructure at the 'km 381' rest stop and approximately 50 kilometers from Rio Tinto's Galaxy Lithium project. This proximity to a major development that was acquired for USD 6.7 billion validates the region's significance in the global lithium market.

While these are early-stage results from a limited drilling campaign, the combination of grade, thickness, and strategic location establishes Ninaaskumuwin as a legitimate lithium discovery that warrants aggressive follow-up exploration. The property represents a valuable diversification for Fury Gold Mines beyond their traditional precious metals focus.

References:
[1] https://www.stocktitan.net/news/FURY/fury-intercepts-32-35m-of-1-16-li2o-at-the-ninaaskumuwin-b7rfbpgo9hi3.html