McFarlane Lake Mining Commences Drilling on McMillan Mine Property - Provides Corporate Update
McFarlane Lake Mining has started drilling operations at its McMillan Mine property near Sudbury, Ontario. The company plans to drill a minimum of 3,000 meters to confirm historical gold intersections and expand gold mineralization, following recent geophysical surveys. Historical drilling showed significant results, including a 27.9-metre intersection of 6.4 gpt gold. A recent sample returned 87.4 gpt gold with copper, cobalt, and nickel content.
The company also announced management changes effective December 1, 2024, with Brad Boland joining as CFO, replacing Charles Lilly who is departing from both his CFO position and board membership.
McFarlane Lake Mining ha avviato le operazioni di perforazione presso il suo McMillan Mine property vicino a Sudbury, Ontario. L'azienda prevede di perforare un minimo di 3.000 metri per confermare le intersezioni storiche d'oro e ampliare la mineralizzazione d'oro, seguendo recenti studi geofisici. Le perforazioni storiche hanno mostrato risultati significativi, inclusa un'intersezione di 27,9 metri con 6,4 gpt d'oro. Un campione recente ha restituito 87,4 gpt d'oro con contenuti di rame, cobalto e nichel.
L'azienda ha anche annunciato cambiamenti nella gestione a partire dal 1° dicembre 2024, con Brad Boland che si unisce come CFO, sostituendo Charles Lilly che lascerà sia la posizione di CFO che la carica nel consiglio di amministrazione.
McFarlane Lake Mining ha comenzado las operaciones de perforación en su propiedad McMillan Mine cerca de Sudbury, Ontario. La empresa planea perforar un mínimo de 3,000 metros para confirmar las intersecciones históricas de oro y expandir la mineralización de oro, después de recientes estudios geofísicos. Las perforaciones históricas mostraron resultados significativos, incluida una intersección de 27.9 metros con 6.4 gpt de oro. Una muestra reciente devolvió 87.4 gpt de oro con contenido de cobre, cobalto y níquel.
La empresa también anunció cambios en la gestión efectivos a partir del 1 de diciembre de 2024, con Brad Boland uniéndose como CFO, reemplazando a Charles Lilly, quien dejará tanto su puesto de CFO como su membresía en la junta.
맥팔레인 레이크 마이닝이 온타리오 주 서드버리 근처의 맥밀란 광산 부지에서 시추 작업을 시작했습니다. 이 회사는 최근의 지구물리학 조사에 따라 역사적 금 접합을 확인하고 금 광물화를 확장하기 위해 최소 3,000미터를 시추할 계획입니다. 역사적인 시추 결과는 상당한 성과를 보였으며, 그중 27.9미터에서 6.4 gpt의 금이 발견되었습니다. 최근 샘플에서는 구리, 코발트 및 니켈 함량과 함께 87.4 gpt의 금이 발견되었습니다.
회사는 2024년 12월 1일부터 유효한 경영진 변경을 발표했으며, 브래드 볼랜드가 CFO로 합류하여 Charles Lilly를 대체할 것입니다. Charlie Lilly는 CFO 직책과 이사직에서 모두 물러납니다.
McFarlane Lake Mining a commencé les opérations de forage sur sa propriété de la mine McMillan près de Sudbury, en Ontario. L'entreprise prévoit de forer un minimum de 3 000 mètres pour confirmer les intersections historiques d'or et élargir la minéralisation de l'or, suite à des études géophysiques récentes. Les forages historiques ont montré des résultats significatifs, incluant une intersection de 27,9 mètres avec 6,4 gpt d'or. Un échantillon récent a donné 87,4 gpt d'or avec des teneurs en cuivre, cobalt et nickel.
L'entreprise a également annoncé des changements de direction effectifs à partir du 1er décembre 2024, avec Brad Boland rejoignant le poste de CFO, remplaçant Charles Lilly qui quittera à la fois son poste de CFO et son adhésion au conseil d'administration.
McFarlane Lake Mining hat mit den Bohrarbeiten auf seinem McMillan Mine Grundstück in der Nähe von Sudbury, Ontario, begonnen. Das Unternehmen plant, mindestens 3.000 Meter zu bohren, um historische Goldintersektionen zu bestätigen und die Goldmineralisation zu erweitern, basierend auf jüngsten geophysikalischen Untersuchungen. Historische Bohrungen zeigten signifikante Ergebnisse, darunter eine 27,9 Meter lange Intersektion von 6,4 gpt Gold. Eine kürzlich durchgeführte Probe ergab 87,4 gpt Gold mit Kupfer-, Kobalt- und Nickelgehalt.
Das Unternehmen gab auch Verwaltungsänderungen bekannt, die am 1. Dezember 2024 in Kraft treten, wobei Brad Boland als CFO hinzukommt und Charles Lilly ersetzt, der sowohl seine CFO-Position als auch seine Mitgliedschaft im Vorstand verlässt.
- Historical drilling showed promising results with 27.9m intersection of 6.4 gpt gold
- Recent sample returned high-grade results of 87.4 gpt gold with polymetallic mineralization
- Appointment of experienced mining executive Brad Boland as new CFO
- None.
SUDBURY, ON / ACCESSWIRE / November 29, 2024 / McFarlane Lake Mining Limited (CBOE:MLM) ("McFarlane Lake" or "the Company"), a Canadian gold exploration and development company, today announces that it has commenced drilling on its
The property is located on the traditional lands of the First Nation (FN) communities of Atikameksheng Anishnawbek (Whitefish Lake FN), Whitefish River FN, Sagamok Anishnawbek FN and Metis Nation of Ontario.
Figure 1 - McMillan Mine Property Location
The company recently completed a "down the hole" geophysical survey on the property. The company was able to re-open several historical diamond drill holes so that geophysical instrument probes could be placed in the holes. An Induced Polarization ("IP"), and an Electro Magnetic ("EM") geophysical survey was conducted in selected historical holes. McFarlane plans to drill a minimum of 3,000 meters in part to confirm historical gold intersections on the property and then, using data from the recent geophysical surveys, target areas to materially expand the gold mineralization.
Figure 2 shows a long section through the old mine workings and outlines some target drilling areas. Historical drilling intercepts include a 27.9 metre intersection of 6.4 grams per tonne ("gpt") of gold containing 8.1 metres of 15.7 gpt gold.
On September 10, 2024, the company announced a recent sample taken at the site, from what is interpreted to have been historic ore from the McMillan Gold Mine, which returned 87.4 gpt gold,
Figure 2 - McMillan Mine Longitudinal Section - Historic Gold Intercepts and Planned Drilling Target Areas
Corporate Update
Today the Company is also announcing that effective December 1, 2024, the following management and board changes will occur. Brad Boland (CPA, CMA) has joined McFarlane as its Chief Financial Officer. Mr. Boland brings over 25 years of experience at the executive level in the mining industry. He was previously VP of Finance for Goldcorp Inc, VP Controller at Kinross Gold Corporation and CFO at Consolidated Thompson Iron Mines. Mr. Charles (Chuck) Lilly, the Company's current CFO is leaving the company to take on other opportunities. He is also resigning as a member of the board. Mr. Lilly has been with the Company since its founding in 2020. He has steered the company through its Reverse Takeover transaction (public offering) and then onto the CBOE stock exchange in 2022 and presided over subsequent financings in 2023 and 2024 in the public market.
Mark Trevisiol, CEO of McFarlane adds "Chuck has been instrumental in guiding the company from a private startup through to the public domain. We wish him well in his future endeavors.", he adds "having Brad join our team will make seamless the transition of having a new CFO handling our accounting and financial reporting. He has extensive experience in the industry, and we are delighted he has joined the McFarlane team."
In accordance with regulatory requirements, McFarlane has recently filed its year end (August 31,2024) and quarterly financial statements, Management Discussion and Analysis (MD&A) and Annual Information Form (AIF) on sedarplus.com.
For Further Information, Please Contact:
Mark Trevisiol, Chief Executive Officer
McFarlane Lake Mining Limited
info@mcfarlanelakemining.com
Qualified Person
The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the company, and a Qualified Person as defined under National Instrument 43-101.
About McFarlane Lake Mining Limited
McFarlane is a gold exploration company focused on the exploration and development of its portfolio of properties. The past producing McMillan and Mongowin gold properties, located 70 km west of Sudbury, Ontario, the past producing West Hawk Lake property located immediately west of the Ontario-Manitoba border, and the High Lake gold property (click on MLM HL & WHL_P&E Initial MRE Tech Rept_FINAL_2023-07-04.pdf for compliant high grade gold resource statement on High Lake) located east of the Ontario-Manitoba border and 8 km from the West Hawk Lake property. McFarlane also owns the Michaud/Munro mineral property situated 115 km east of Timmins along the so-called "Golden Highway". McFarlane is a "reporting issuer" under applicable securities legislation in the provinces of, British Columbia, Alberta and Ontario.
Additional information on McFarlane can be found by reviewing its profile on SEDAR at www.sedar.com or at on its website at www.mcfarlanelakemining.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, including without limitation; anticipated results of geophysical surveys or drilling programs, estimated timing, geological interpretations and potential mineral recovery processes. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of McFarlane to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Filing Statement dated as of January 14, 2022, which is available for view on SEDAR at www.SEDAR.com Forward-looking statements contained herein are made as of the date of this press release, and McFarlane disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
SOURCE: McFarlane Lake Mining Limited
View the original press release on accesswire.com
FAQ
What are the drilling plans for McFarlane Lake Mining (MLMLF) at McMillan Mine property?
What were the historical gold drilling results at McMillan Mine for McFarlane Lake Mining (MLMLF)?
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