Canadian gold exploration company Fury Gold Mines has reported an initial inferred mineral resource estimate (MRE) for the La Pointe Extension target at its Sakami gold project, situated in the Eeyou Istchee Territory James Bay region, northern Quebec.
The Sakami gold project MRE outlines 23.9 million tonnes (mt) grading 1.07 grams per tonne (g/t) of gold, for a total of 825,000oz.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
All of these ounces are projected to be near-surface within an open pit extending to 400m of surface.
The company noted that the MRE remains open in all directions, with near-term growth potential to the north-east and south-west, as well as beneath the current open-pit limits, where drilling has only reached 175m below surface to date.
Fury Gold Mines highlights significant potential to grow beyond the existing in-pit resources.
At La Pointe, the initial mineral exploration target is estimated to range between 8.1mt and 14.7mt, with grades between 1.57g/t and 1.11g/t of gold.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe discovery cost of the La Pointe Extension discovery is estimated at less than C$9/oz ($6.49/oz), which includes both Fury’s acquisition cost of Quebec Precious Metals and the expenses of the 2025 Sakami drill programme.
Fury Gold Mines CEO Tim Clark said: “The Sakami mineral resource estimate is an exciting portfolio milestone and starting point for the project. Less than a year from acquiring Sakami from Quebec Precious Metals, the Fury team identified a path to growing portfolio ounces, leveraging this quality asset situated in an established mining region with excellent access to infrastructure.
“These 825,000oz are a solid base from which we can grow, demonstrating significant expansion potential, and paves the way to growing our ounces within the Eeyou Istchee James Bay region.”
The Sakami project covers around 14,250 hectares and lies 30km east of the paved Billy Diamond Highway.
During the 2025 drilling campaign, the company completed seven diamond drill-holes totalling approximately 3,685m.
Six of these holes were designed to test down plunge and along strike extensions of previously identified gold mineralisation over 650m of strike length at the La Pointe Extension target.
In April this year, Fury Gold Mines completed the acquisition of all the issued and outstanding common shares of Québec Precious Metals.
