12:04 PM EDT, 07/22/2025 (MT Newswires) -- (Updates shares.)

Fury Gold Mines ( FURY ) traded 5.4% higher at last look Tuesday on the TSX after the company announced metallurgical test results on the Ninaaskumuwin lithium discovery in Quebec.

Fury said results from the preliminary test work indicate that the Ninaaskumuwin lithium mineralization is amenable to conventional lithium extraction techniques, with heavy liquid separation resulting in recovery of 62.2% lithium and a concentrate grade of 5.59% lithium oxide from a single composite sample.

Samples analyzed contain up to 42% spodumene while grades of the 85 samples analyzed ranged from 0.02% to 3.71% lithium oxide and 0.36% to 6.30% ferric oxide.

"We are encouraged by the metallurgical results from our newly acquired lithium asset in Quebec," CEO Tim Clark said. "This project, as well as the others acquired through the Quebec Precious Metals transaction, is a positive addition to our portfolio of mineral exploration assets and warrants future follow-up work to realize the full potential of the project."

The company's shares were last seen up $0.04 to $0.78 on the Toronto Stock Exchange.

Price: 0.78, Change: +0.04, Percent Change: +5.41