Homestake Ridge Resources

More than 90,000 metres in 275 holes have been drilled at Homestake Ridge forming a resource of high-grade gold and silver (along with copper and lead values) as follows:

Homestake Ridge comprises the 75 sq. km. northern half of the Company’s 163 sq. km. Kitsault Valley project located in the Golden Triangle of Northwest British Columbia and features a high-grade gold and silver resource. It includes three known precious metal deposits: Homestake Main, Homestake Silver and South Reef.

Catergory Zone Tonnes (Mt) Gold (g/t Au) Gold (oz) Silver (g/t Ag) Silver (Moz) Copper (%) Copper (Mlbs) Lead (%) Lead (Mlbs)
Indicated HM 0.736 7.02 165,993 74.8 1.8 0.18 2.87 0.077 1.25
Total 0.736 7.02 165,993 74.8 1.8 0.18 2.87 0.077 1.25
Inferred HM 1.747 6.33 355,553 35.9 2.0 0.35 13.32 0.107 4.14
HS 3.354 3.13 337,013 146.0 15.7 0.03 2.19 0.178 13.20
SR 0.445 8.68 124,153 4.9 0.1 0.04 0.36 0.001 0.00
Total 5.545 4.58 816,719 100.0 17.8 0.13 15.87 0.142 17.34

See NI43-101 Technical report dated March 23, 2023, with effective date September 28, 2022 titled “Technical Report on the Combined Kitsault Valley Project, British Columbia, Canada” on SEDAR

  1. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability although, as per CIM requirements, the Mineral Resources reported above have been determined to have demonstrated reasonable prospects for eventual economic extraction. 
  2. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council. 
  3. The Mineral Resources for the HM (Homestake Main), HS (Homestake Silver), and SR (South Reef) Zones were originally reported in Hough et al (2022) – QPs Andrew J. Turner, P.Geol., and David Stone, P. Eng., effective date January 20, 2022.  
  4. The Mineral Resources for the TB (Torbrit), DV (Dolly Varden), NS (North Star) and WF (Wolf) Deposits were originally reported in Turner and Nicholls (2019) – QP Andrew J. Turner, P.Geol., effective date May 8, 2019. 
  5. The resources reported above are reviewed in detail within this report and are accepted as current by the Qualified Person, Mr. Andrew J. Turner, B.Sc., P.Geol., of APEX Geoscience Ltd. 
  6. The Cut-off grade for the Homestake Ridge property Mineral Resources is 2.0 g/t AuEq, which was determined using average block grade values within the estimation domains and a Au price of $1300/ tr oz, a Ag price of US$20.00/ tr oz, and a Cu price of U$2.50/lb, and Mill Recoveries of 92% for Au, 88% for Ag and 87.5% for Cu and combined mining, milling and G&A costs of approximately US$109/ton. 
  7. The Cut-off grade for the Dolly Varden property Mineral Resources is 150 g/t Ag, which was determined using a Ag price of US$20.00/ tr oz, a recovery of 90% and combined mining, milling and G&A costs of US$80/ton.  
  8. Sufficient sample density data existed to allow for estimation of block density within the estimation domains of the HM, HS and SR zones, which ranged from 2.69 t/m3 to 3.03 t/m3. 
  9. Bulk density values ranging from 2.79 t/m3 to 3.10 t/m3 were assigned to individual estimation domains based on available SG measurements for the DV, TB, NS and WF deposits. 
  10. Differences may occur in totals due to rounding. 

Fury Gold Mines Ltd. Historic Preliminary Economic Assessment

The former project owner, Fury Gold Mines Ltd., completed a previous Preliminary Economic Assessment on the Homestake Ridge project with robust economics. This historic NI 43-101 compliant technical report dated May 29, 2020, prepared by Minefill Services, Inc. can be found by searching