Bet On Markets

Fury Sanya Project Assays Return High-Grade Gold

Fury Sanya Project Assays Return High-Grade Gold < News < Bet On Markets

VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 22, 2004--Fury Explorations Ltd. (TSX VENTURE:FUR) (the «Company») is pleased to present assay results from an ongoing underground sampling program at its Sanya Gold Project, Hainan Province, China. Management is encouraged by the results as they indicate the presence of strong gold mineralization and validate plans to proceed with a diamond drill program.

The focus of current exploration is two known gold bearing vein systems («4» and «11») that are being tested by employing an underground channel sampling program. A range of samples taken from the two primary veins in System 4 were shipped to Acme Analytical Laboratories in Vancouver and have returned assay results of up to 71.6 g/t Au with an average of 27.7 g/t Au.

Vein System 4

The underground workings have now been dewatered to the 130 meter level and sampling of the mineralized quartz vein system is complete. The vein is only exposed for a length of 34 meters because of extensive caving and deposition of muck in the remaining portion of the underground workings. The assay results presented below, suggest high-grade mineralization in a system, which occurs within several near vertical, vein structures.

Samples were taken across the veins at two meter intervals (where possible) along the drifts and hanging wall. Footwall samples were also taken beside each vein sample.

The 4-1A vein was sampled in this manner over a length of 27 meters. Vein sample assays range from 0.27 g/t Au/0.26m to 53.87 g/t Au/0.9m and average 14.58 g/t Au over an average thickness of 0.50 meters. Of the 13 samples taken, only 3 had assays less than 5.0 g/t Au.

Vein 4-2A, a second vein located parallel to and 30 meters east of 4-1A was able to be sampled at two meter intervals for a distance of 12 meters. The vein assays ranged from 1.24 g/t Au/0.95m to 27.89 g/t Au/0.5m and averaged 9.22 g/t Au/0.42m.

A third vein, Vein 4-2B, is relatively flat lying and was assayed at two meter intervals along the drift. Vein assays ranged from less than 0.01 to 3.31 g/t Au.

Wall rock assays are a little more difficult to quantify but there are several cases where assays greater than 5.0 g/t Au are present beside the higher-grade vein assays. A greater population of samples would be necessary to calculate definitive wallrock-vein associations.

Assaying of all samples was completed at the government laboratory in Haikou. A maximum of one kilogram of each sample was crushed so 70% of the sample passed through 10 mesh screen, then 250 grams was split and pulverized to 95% passing through 150 mesh screen. The resulting split was assayed by ICP after having been digested in Aqua Regia. A second split was taken of 17 samples from all ranges of original assays, and these were assayed by Acme Analytical Laboratories of Vancouver, British Columbia using the same method. Original assays over 1.0g/t Au assayed 37% higher on average than the assays from the Haikou lab. Assays less than 1.0 g/t Au were either higher or lower than the Haikou assays but were all still less than 1.0 g/t Au. The averages used in the results given above are from the Haikou lab.

After careful consideration the Company has decided to further explore Vein System 4 with a series of diamond drill holes. Surface drilling techniques will be used to test continuity of the vein structures at depth and on strike. Management expects a drill program to commence early in 2005.

Vein System 11

Vein System 11 is located approximately 750 meters west of Vein System 4, and is intersected by two surface trenches on a hillside. The two trenches, 120 meters apart, were completed and assayed in 2001 by the Hainan Comprehensive Geological Exploration Institute. The trenching uncovered 4 veins returning individual gold assays reported at 29.3 g/t over 0.99m, 9.2g/t over 1.96m, 4.5g/t over 1.7m and 4.31 g/t over 0.98m (sample collection and assaying techniques have not been investigated in detail, but are assumed to have been conducted in a technically sound manner).

In September 2004, the Company decided to access this vein system by collaring an adit in the valley below the trenches with the intention of intersecting the vertical extension of the veins found on surface. A 500 meter long gravel road was completed to provide access to the new adit from the main road. Construction of the adit was undertaken with plans to follow veins by drifting as they were intersected. The adit was collared on September 6th and has now reached 210 m in length.

To date, 3 of the 4 veins have been intersected by the adit, as well as a previously unknown fault zone filled with clay gouge. A series of drifts will be constructed and a channel sampling program conducted within each. Assays will be provided when sampling in the system is complete.

The program is being conducted under the guidance of Mr. Ken Thorsen, P.Eng. Mr. Thorsen, is a director and the Chairman of the Company.

The Sanya Project consists of exploration licenses covering an area of approximately 48.8 square kilometers (km) near the city of Sanya, Hainan Province, China. The Province of Hainan is an island off the south coast of China southwest of Hong Kong and east of Vietnam.

Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading «Risk Factors» and elsewhere in the corporations’ periodic filings with Canadian Securities Regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. Statements in this press release other than purely historical information, including statements relating to the company’s future plans and objectives or expected results, constitute forward-looking statements. Forward looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the company’s business, including risks inherent in mineral exploration and development. The company does not assume the obligation to update any forward-looking statement.


Steve Vanry, CFA, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Fury Explorations Ltd. (TSX VENTURE:FUR)

Click / START NOW! / for opening the new account at Bet On Markets.

See also:

Bet On Markets > Bets/News/Articles/Security/Account/Cashier/About