Answer
The press release does not disclose a specific dollar amount for the remaining 11 planned drill holes at the Sakami gold project. Fury Gold Mines only disclosed the results from the first hole (25SK‑001) of the inaugural six‑hole campaign and gave no details on the overall drilling budget or per‑hole cost. Consequently, any estimate must be built on industry benchmarks rather than on company‑provided figures.
In the Canadian junior‑exploration sector, a typical “hard‑rock” drill hole in remote northern terrain (including mobilization, rig hire, personnel, core analysis, and logistics) runs roughly US$150‑200 k per 2‑km hole. Assuming Fury follows this range, the 11 additional holes would likely require a US$1.7‑2.2 million outlay (≈US$155 k × 11). Companies usually allocate the bulk of a seasonal drill budget to the field program (≈ 80‑85 % of total exploration spend), with the remainder earmarked for assay work, data integration, and contingency. If Fury’s total 2025 exploration spend for Sakami is in line with peers (≈ US$3‑4 million for a 12‑hole program), the budget allocation would be roughly:
| Cost component | Approx. % of total | Approx. dollar amount (US$) |
|---|---|---|
| Drilling operations (rig, crew, mobilization) | 75‑80 % | 1.7‑2.2 M |
| Core analysis & assaying | 10‑12 % | 0.3‑0.5 M |
| Logistics, permits & contingency | 8‑15 % | 0.2‑0.6 M |
Trading implications
- Fundamental upside: If the remaining 11 holes confirm the high‑grade, near‑surface mineralization already seen, the resource estimate could be upgraded substantially, supporting a re‑rating of Fury’s valuation (e.g., a 30‑40 % price bump on the next 3‑month chart).
- Risk considerations: The lack of disclosed cost means the market is pricing in an “unknown‑cost” premium. Any overruns (common in James Bay logistics) could compress cash flow and pressure the stock if the drill results are modest. Until the company releases a detailed budget, a cautious position (e.g., small‑size long or a hedged exposure) is advisable.
- Actionable view: Keep the stock neutral to bullish pending the upcoming assay release (expected in 4–6 weeks). If the next set of results shows ≥ 1 g/t Au over a minimum of 30 m combined width, consider adding to a long position; if assay grades fall below 0.5 g/t, a short‑cover or reduction of exposure may be warranted.