Canada

Clearwater (Eau Claire) Project

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Categories

Overview

Mine TypeOpen Pit & Underground
StagePreliminary Economic Assessment
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
  • Sub-level stoping
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Owners

SourceSource
CompanyInterestOwnership
Fury Gold Mines Ltd. 100 % Direct
On October 9, 2020, Fury Gold Mines Limited (Formerly Auryn Resources Inc.) acquired all of the then issued and outstanding shares of Eastmain Resources Inc. (“Eastmain”) in accordance with the terms and conditions of the arrangement agreement dated August 10, 2020 (the “Arrangement Agreement”). In accordance with the terms of the Arrangement Agreement, the Company changed its name to “Fury Gold Mines Limited” pursuant to a certificate of change of name dated October 8, 2020.

Deposit type

  • Vein / narrow vein
  • Mesothermal

Summary:

Gold mineralization in the Eau Claire Deposit is structurally controlled and exhibits similar geological, structural and metallogenic characteristics to Archean Greenstone-hosted quartz-carbonate vein (lode) deposits. These deposits are also known as mesothermal, orogenic, lode gold, shear-zone-related quartz-carbonate or gold-only deposits (Dubé and Gosselin, 2007).

The Eau Claire deposit is a structurally-controlled gold deposit. Mineralization occurs primarily in a series of sheeted en-echelon quartz-tourmaline veins; subordinate mineralization occurs as dissemination in the host rock. Carbonate occurs to varying degrees in the vein mineralization. The en-echelon pattern is hosted within a structural corridor and trends from the northwest to the southeast. Individual veins are up to 1 metre thick and extent for at least 100 metres along strike.

Veins are composed of quartz and tourmaline; the ratio between quartz with accessory calcite to tourmaline can vary from 100 percent quartz to 100 percent tourmaline. The quartz-tourmaline veins are massive, banded and/or brecciated. Pyrite, pyrrhotite, chalcopyrite and rare molybdenite generally constitute less than 1.5 percent of the composition of these veins. Commonly, brecciated veins contain angular blocks of tourmaline, ranging in size from less than one to more than 25 centimetres in size. Fragments are cemented by a quartz-carbonate matrix. Breccia textures locally form a piano key pattern with angular tourmaline blocks aligned perpendicular to the vein walls. This texture is due to protracted deformation that affected already formed veins and generated new veins (tension gash veins developed on pre-existing laminated veins). The piano key breccia has been observed throughout the deposit at all scales in tourmaline veins of less than 1 centimetre to more than 1 metre thick. A ladder vein texture has also been observed in outcrop at the 450 West Zone consisting of massive tourmaline layers with quartz-carbonate ladders aligned perpendicular to the vein walls.

Gold occurs as isolated grains or as clusters of fine grained particles. Irregular to sub-angular shaped gold grains range in size from less than 10 micrometres to 1 millimetre. In rare instances, grains up to 1 centimetre in size have been observed. Locally, veins contain micrometre-size clusters of visible gold particles. Tellurobismuthite (Bi2 Te3) occurs throughout the deposit. Gold and tellurides occur within micro fractures in quartz, interstitial to granular tourmaline grains, at the contact between massive aphanitic tourmaline and quartz bands, and along tourmaline laminations.

Gold mineralization also occurs within altered host rock without veining occurring as centimetre to several metre wide tourmaline-actinolite ± biotite ± calcite replacement zones around vein selvages.

The two major vein areas discovered to date (the 450 West and 850 West zones) form a crescent-shaped mineralized, surface projected footprint 1.8 kilometres long by more than 100 metres wide, which has been traced to date to a vertical depth of 900 metres. Veins within the 450 West zone typically strike 85 degrees and dip 45 to 60 degrees to the south. Mineralization within the veins plunges steeply to the southeast, subparallel to an F2 fold axis. Veins within the 850 West zone typically strike 60 degrees and dip subvertically. Mineralization within this vein set plunges gently to the southwest.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Gold Metal in doré oz 79,200951,000

Operational metrics

Metrics
Daily ore mining rate 1,500 t *
Daily processing rate 1,500 t *
Annual processing rate 534,000 t *
Stripping / waste ratio 9.37 *
Ore tonnes mined, LOM 6,403,000 t *
Tonnes processed, LOM 6,403 kt *
* According to 2018 study.

Production Costs

CommodityUnitsAverage
Cash costs Gold USD 486 / oz *  
All-in sustaining costs (AISC) Gold USD 574 / oz *  
Assumed price Gold USD 1,250 / oz *  
* According to 2018 study / presentation.

Operating Costs

Currency2018
OP mining costs ($/t mined) CAD 3.69 *  
OP mining costs ($/t milled) CAD  ....  Subscribe
UG mining costs ($/t milled) CAD  ....  Subscribe
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* According to 2018 study.

Project Costs

MetricsUnitsLOM Total
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OP OpEx $M CAD  ......  Subscribe
UG OpEx $M CAD  ......  Subscribe
Processing OpEx $M CAD 135
G&A costs $M CAD 80.2
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Pre-tax NPV @ 8% $M CAD  ......  Subscribe
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Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 30, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 4, 2018
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....................... Subscription required ....................... Subscription required Subscription required Dec 30, 2023

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