Fury Gold Mines Limited (TSX and NYSE American: FURY) has released final metallurgical test results for its Ninaaskumuwin lithium discovery on the Elmer East project in the Eeyou Istchee James Bay Territory of Northern Quebec. The tests produced a direct shipping ore (DSO) concentrate grading 6.024% Li2O5 with a recovery rate of 76.66% using a single dense media separation (DMS) step on crushed high-grade ore.
Test Results and Mineralogy
Analysis of 85 samples showed spodumene as the only lithium-bearing mineral, with grades ranging from 0.02% to 3.71% Li2O and from 0.36% to 6.30% Fe2O3. Up to 42% spodumene was identified in individual samples. The pegmatite is free of impurities, indicating potential for producing lithium concentrates suitable for lithium carbonate and lithium hydroxide used in batteries.
The DMS process achieved a concentrate of 6.024% Li2O5 while recovering 76.66% of the lithium in 22.97% of the mass. This result suggests a selective exploration and mining approach is viable.
Management and Expert Commentary
Tim Clark, CEO of Fury, stated: “We are very encouraged by the strong metallurgical results achieved, which demonstrate the potential of the mineralization to respond well to conventional processing methods. We look forward to identifying opportunities to unlock value at the Ninaaskumuwin discovery for our shareholders.”
Ahmed Bouajila, President & CEO of IGS Impact Global Solutions Inc., added: “The results obtained clearly support the use of DMS on crushed high-grade ore to be potentially sourced from the Ninaaskumuwin lithium discovery and to produce a DSO marketable Spodumene Concentrate (SC6). The quality of the intercepted LCT pegmatite indicates that the processing of the mineralized material as highly derisked. This is in sharp contrast with other hard rock lithium projects that are challenged to produce profitable and marketable concentrates.”
Elmer East Project Location and Access
The Ninaaskumuwin lithium prospect is on Fury’s 100% owned Elmer East project, covering approximately 45,700 hectares. It is accessible via the paved Billy Diamond highway, roughly 60 km north of the ‘km 381’ rest stop, which offers accommodation, catering, fuel, and power. The discovery sits about 50 km north of Rio Tinto plc’s Galaxy Lithium project, acquired in March 2025 as part of the US$6.7 billion acquisition of Arcadium Lithium plc. However, technical and scientific information from the Galaxy project does not necessarily apply to Elmer East.
Implications for Battery Supply Chain
The high-grade spodumene concentrate produced from simple DMS processing positions the Ninaaskumuwin discovery as a potentially low-cost source for lithium battery materials. The absence of impurities reduces processing complexity and cost, which is a significant advantage over many hard rock lithium projects that require more intensive beneficiation. Fury plans to continue exploring and developing the project to further de-risk and unlock shareholder value.
