Fury Commences 2026 Drilling Program at Committee Bay in Nunavut
Fury begins drilling at Committee Bay while fully funded exploration continues alongside the Eau Claire pre-feasibility study.
Fury Gold Mines Limited (FURY) has officially commenced its 2026 drilling program at the Committee Bay project in Nunavut. The initiative targets approximately 5,000 meters of diamond drilling focused on the Three Bluffs deposit and the Antler prospect.
The program’s objectives include infilling and expanding the known Three Bluffs resource, which currently holds 524k oz Indicated and 720k oz Inferred, as well as testing step-out and infill targets at Antler. The company confirms it is fully financed to complete all 2026 exploration programs at both Committee Bay and its Eau Claire property in Quebec.
Fury Gold Mines Limited (FURY) issued an operational update regarding its 2025 Committee Bay program and its previously disclosed 2026 work plan. The announcement confirmed full financing for the 2026 activities, a move that removes near-term dilution risk but does not alter the fundamental development timeline.
The drilling scope and targets align with prior guidance, with no new discoveries, unexpected financial terms, or strategic shifts introduced. The news is expected by the market and lacks the novelty required for a material price reaction, serving as a procedural milestone rather than a catalyst.
Fury Gold Mines Limited (FURY) is a Canadian-focused exploration and development company operating in Quebec and Nunavut. Its flagship asset is the Eau Claire Gold Project in Quebec, a high-grade underground and open-pit deposit that completed a Preliminary Economic Assessment (PEA) in September 2025. The PEA outlines an 11-year mine life, $554 million after-tax net present value (NPV) at a 5% discount rate, and a 41% internal rate of return (IRR) at a gold price of $2,400 per ounce.
Eau Claire is advancing from exploration to pre-feasibility, with environmental baseline studies and metallurgical testwork currently underway. The company also holds other assets, including the Sakami project in Quebec, which hosts an 825,000 ounce inferred resource, and the Committee Bay project in Nunavut, which contains a 1.24 million ounce combined resource. Additionally, the Elmer East project in Quebec features the Ninaaskumuwin lithium discovery. Committee Bay and Sakami remain in the exploration and resource definition phase.