SilverNuts@Bolts
06-12-2006, 05:59 PM
http://biz.yahoo.com/iw/060612/0135062.html
Press Release Source: Fury Explorations Ltd.
Fury Acquires Mexican Projects
Monday June 12, 12:11 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 12, 2006 -- Fury Explorations Ltd. (the "Company") (TSX VENTURE:FUR.V - News) announces receipt of title for two new projects in Jalisco State, Mexico. The concessions, Magistral I and Guachinango I, cover prospective copper-gold and silver targets and were acquired during a staking program conducted during the summer of 2005.
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The Magistral I concession, covering 9,400 hectares, is located within the Magistral Grande region, an area dominated by two copper-rich mineral trends. Known copper deposits on adjacent claims, consist of breccia pipes within disseminated copper bearing intrusives. Airborne geophysical survey results indicate the potential for the Magistral I concession to host either or both styles of mineralization. The concession is accessible via a series of gravel roads from the town of Ameca (population 50,000), which is located 100 kilometres southwest of Guadalajara.
The 6,200 hectare Guachinango I concession is located 30 kilometres northwest of the Magistral I project area. The concession was staked to cover airborne geophysical anomalies similar to those associated with epithermal silver-lead bearing vein systems on an adjacent property to the west.
Both concessions were targeted based on historical geophysical and geological information obtained by the Company. A phase one exploration program consisting of reconnaissance, mapping and sampling will be undertaken on both projects in the short-term.
A finder's fee is payable in connection with these transactions. Additionally, the Company shall purchase from the finder a data package pertaining to the concessions. A minimum of $US50,000 plus 200,000 common shares at a price of $0.76 per share is payable to the finder in respect of his assistance and data. The finder is eligible to receive up to an additional 250,000 shares if the projects achieve certain success criteria.
Mr. Ken Thorsen, B.Sc. P.Eng., Chairman and Director of Fury Explorations, is the Qualified Person for the Company, as defined by National Instrument 43-101, and is responsible for the accuracy of this press release.
Fury Explorations is a junior exploration and development company focused on reaching near-term silver production at its Nevada based Taylor Project and exploring for other early stage, base and precious metals properties in North America. Fury is well positioned for the possibility of entering into commercial production and further growth. The Company currently has 15.7 million shares issued and working capital totaling approximately $2.25 million.
FURY EXPLORATIONS LTD.
On Behalf of the Board,
Steve Vanry, CFA - President
Contact:
Contacts:
Fury Explorations Ltd.
Steve Vanry
CFA - President
(604) 689-1810
info@furyexplorations.com
http://www.furyexplorations.com
Press Release Source: Fury Explorations Ltd.
Fury Acquires Mexican Projects
Monday June 12, 12:11 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 12, 2006 -- Fury Explorations Ltd. (the "Company") (TSX VENTURE:FUR.V - News) announces receipt of title for two new projects in Jalisco State, Mexico. The concessions, Magistral I and Guachinango I, cover prospective copper-gold and silver targets and were acquired during a staking program conducted during the summer of 2005.
ADVERTISEMENT
The Magistral I concession, covering 9,400 hectares, is located within the Magistral Grande region, an area dominated by two copper-rich mineral trends. Known copper deposits on adjacent claims, consist of breccia pipes within disseminated copper bearing intrusives. Airborne geophysical survey results indicate the potential for the Magistral I concession to host either or both styles of mineralization. The concession is accessible via a series of gravel roads from the town of Ameca (population 50,000), which is located 100 kilometres southwest of Guadalajara.
The 6,200 hectare Guachinango I concession is located 30 kilometres northwest of the Magistral I project area. The concession was staked to cover airborne geophysical anomalies similar to those associated with epithermal silver-lead bearing vein systems on an adjacent property to the west.
Both concessions were targeted based on historical geophysical and geological information obtained by the Company. A phase one exploration program consisting of reconnaissance, mapping and sampling will be undertaken on both projects in the short-term.
A finder's fee is payable in connection with these transactions. Additionally, the Company shall purchase from the finder a data package pertaining to the concessions. A minimum of $US50,000 plus 200,000 common shares at a price of $0.76 per share is payable to the finder in respect of his assistance and data. The finder is eligible to receive up to an additional 250,000 shares if the projects achieve certain success criteria.
Mr. Ken Thorsen, B.Sc. P.Eng., Chairman and Director of Fury Explorations, is the Qualified Person for the Company, as defined by National Instrument 43-101, and is responsible for the accuracy of this press release.
Fury Explorations is a junior exploration and development company focused on reaching near-term silver production at its Nevada based Taylor Project and exploring for other early stage, base and precious metals properties in North America. Fury is well positioned for the possibility of entering into commercial production and further growth. The Company currently has 15.7 million shares issued and working capital totaling approximately $2.25 million.
FURY EXPLORATIONS LTD.
On Behalf of the Board,
Steve Vanry, CFA - President
Contact:
Contacts:
Fury Explorations Ltd.
Steve Vanry
CFA - President
(604) 689-1810
info@furyexplorations.com
http://www.furyexplorations.com