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Eau Claire Gold Project Advances with 11.74 g/t gold over 6.63m with Fury Gold Mines CEO Tim Clark

MiningStockEducation.com Mar 27, 2026

Summary

Fury's 13,000 m Phase 1 infill drilling at Eau Claire hit 11.74 g/t gold over 6.63 m, confirming continuity between previously disconnected resource blocks.

A fully financed 2026 program of roughly 35,000 m aims to convert inferred ounces ahead of a PFS or feasibility study in 12 to 18 months.

Management argues that updating the PEA to current gold price assumptions near $3,500/oz could lift production potential well above 100,000 oz/year.

Fury holds about $15-16 million, mostly flow-through dollars that must be spent this year, fully covering 2026 including Committee Bay and Sakami.

Former Hecla CEO Phillips Baker joining the board adds senior-mining experience and, per Clark, validates Fury's cashed-up, Quebec-focused growth strategy.

Key points on Agnico Eagle Mines

  • The guest explains that Agnico Eagle's leftover funding from last year, plus flow-through dollars, is financing a planned aggressive summer 2026 drill program at Committee Bay (about 3,000-5,000 metres at the Three Bluffs shear zone).
  • Tim Clark argues Agnico's continued backing signals long-term commitment, comparing its patience at the Laron mine to the potential at Committee Bay.
  • Brian Atkinson says Agnico's geologists view Fury's Nunavut property as under-drilled, with a lot more ground worth testing.

Key points on Hecla Mining Company

  • Tim Clark notes former Hecla CEO Phillips Baker joined Fury's board, saying he scaled Hecla from roughly a $150 million market cap to, by Clark's estimate, well over $5 billion as of the interview.

Key points on Newmont

  • Tim Clark argues James Bay explorers have lagged since Newmont exited the area three or four years ago, and he expects those companies to re-rate.

Key points on Contango Ore Inc

  • Tim Clark describes the approved Dolly Varden-Contango merger as like a mini Hecla, combining a silver developer with Contango's cash flow, which he expects to kick up in 2027.

Bill Powers's takeaways

  • Top takeaway The host interviews Fury Gold Mines CEO Tim Clark and SVP Bryan Atkinson, probing the Eau Claire drill results, treasury, 2026 spending, Committee Bay, and Sakami plans.

Tim Clark's takeaways

  • Top takeaway Tim Clark argues that with a higher long-term gold price (citing around $3,500-3,750 views from BMO and H.C. Wainwright) and added ounces, Fury can lift Eau Claire production potential well over 100,000 oz/year versus the PEA's 80,000 oz/year.
  • He frames Fury as fully funded — about $15-16 million in treasury, mostly flow-through — with drilling continuing into a PFS or FS in the next 12 to 18 months.
  • He touts the addition of ex-Hecla CEO Phillips Baker to the board, saying Baker sees Quebec as under-valued and views Fury's cash position as highly unusual for a junior.
  • He expects James Bay companies to re-rate after lagging since Newmont left the area, citing a peer stock that jumped 400% in a week after an Osisko figure joined its board.
  • He says Sakami added 300,000 ounces from only six holes last summer and likely holds more ounces, though the priority remains Eau Claire.

Bryan Atkinson's takeaways

  • Top takeaway Bryan Atkinson explains the 11.74 g/t over 6.63 metres hit connects previously orphaned stopes in the Gap Zone, supporting resource growth and continuity at Eau Claire.
  • He argues the PEA used only $2,000-2,400 gold and put just over 800,000 of Eau Claire's 1.6 million ounces into the study, so higher prices and M&I conversion should materially improve the next study's economics.
  • He details the ~35,000-metre 2026 program at Eau Claire (13,000 m phase 1 plus a fully financed phase 2 and a third drill), aimed at converting inferred ounces to measured and indicated for the PFS/FS.
  • From Committee Bay in Nunavut, he describes mobilizing and airlifting fuel for an aggressive 3,000-5,000 metre summer program on the Three Bluffs shear zone, including resampling unsampled historic core.
  • He calls Sakami wide open with roughly 800,000 ounces plus a half-million-ounce exploration target, but says this year's focus stays on Eau Claire.