McFarlane Samples 87.4 Grams Per Tonne(Gpt) Gold Containing 0.59% Copper at its Past Producing McMillan Gold Mine; Provides Exploration Update on Upcoming Drill Program
McFarlane Lake Mining (NEO:MLM)(OTCQB:MLMLF) has announced promising results from recent field sampling and outlined exploration plans for its McMillan Gold Mine in Ontario. Key highlights include:
1. A sample yielding 87.4 gpt gold and 0.59% copper, indicating high-grade gold and polymetallic potential.
2. A fully funded 3,000 metre winter drill program set to commence in Q4 2024.
3. Plans to confirm and expand on historic high-grade gold intercepts, including 27.9 metres of 6.4 gpt gold.
4. Multiple regional targets identified with samples up to 10.9 gpt gold.
The company aims to explore the property's polymetallic potential and expand mineralization for a future resource estimate. McFarlane also holds compliant gold resources at its High Lake Property, with 152,000 tonnes at 9.38 g/t Au in the Indicated category.
McFarlane Lake Mining (NEO:MLM)(OTCQB:MLMLF) ha annunciato risultati promettenti dai recenti campionamenti sul campo e ha delineato piani di esplorazione per la sua McMillan Gold Mine in Ontario. I punti salienti includono:
1. Un campione che ha prodotto 87,4 gpt di oro e 0,59% di rame, indicante un alto grado di oro e potenziale polimetallico.
2. Un programma di perforazione invernale di 3.000 metri completamente finanziato che inizierà nel Q4 2024.
3. Piani per confermare e ampliare gli storici intercetti di oro ad alto grado, tra cui 27,9 metri di 6,4 gpt di oro.
4. Molti target regionali identificati con campioni fino a 10,9 gpt di oro.
L'azienda mira a esplorare il potenziale polimetallico della proprietà e a espandere la mineralizzazione per una futura stima delle risorse. McFarlane detiene anche risorse d'oro conformi presso il suo High Lake Property, con 152.000 tonnellate a 9,38 g/t Au nella categoria Indicated.
McFarlane Lake Mining (NEO:MLM)(OTCQB:MLMLF) ha anunciado resultados prometedores de muestreo reciente y ha delineado planes de exploración para su McMillan Gold Mine en Ontario. Los puntos clave incluyen:
1. Una muestra que arrojó 87.4 gpt de oro y 0.59% de cobre, lo que indica un alto grado de oro y potencial polimetálico.
2. Un programa de perforación invernal de 3,000 metros completamente financiado que comenzará en el Q4 de 2024.
3. Planes para confirmar y ampliar los históricos interceptos de oro de alto grado, incluido 27.9 metros de 6.4 gpt de oro.
4. Múltiples objetivos regionales identificados con muestras de hasta 10.9 gpt de oro.
La empresa tiene como objetivo explorar el potencial polimetálico de la propiedad y expandir la mineralización para una futura estimación de recursos. McFarlane también posee recursos de oro conformes en su High Lake Property, con 152,000 toneladas a 9.38 g/t Au en la categoría Indicada.
맥팔레인 레이크 마이닝 (NEO:MLM)(OTCQB:MLMLF)은 최근 현장 샘플링에서 유망한 결과를 발표하고 온타리오에 있는 맥밀란 금광에 대한 탐사 계획을 outline했습니다. 주요 내용은 다음과 같습니다:
1. 87.4gpt 금과 0.59% 구리를 포함한 샘플, 이는 고급 금과 다금속 가능성을 나타냅니다.
2. 2024년 4분기에 시작될 3,000미터 겨울 시추 프로그램이 완전히 자금을 지원받았습니다.
3. 27.9미터의 6.4gpt 금을 포함한 과거 고급 금 관측치를 확인하고 확장할 계획입니다.
4. 10.9gpt 금에 이르는 샘플과 함께 여러 지역 목표가 확인되었습니다.
회사는 이 소유지의 다금속 가능성을 탐구하고 향후 자원 추정치를 위한 광물화를 확장하는 것을 목표로 합니다. 맥팔레인은 또한 High Lake Property에서 152,000톤 9.38g/t Au의 규정 준수 금 자원을 보유하고 있습니다.
McFarlane Lake Mining (NEO:MLM)(OTCQB:MLMLF) a annoncé des résultats prometteurs provenant des récents échantillonnages sur le terrain et a tracé des plans d'exploration pour sa McMillan Gold Mine en Ontario. Les points clés comprennent :
1. Un échantillon donnant 87,4 gpt d'or et 0,59% de cuivre, indiquant un or de haute qualité et un potentiel polymétallique.
2. Un programme de forage hivernal de 3 000 mètres entièrement financé qui doit commencer au T4 2024.
3. Des plans pour confirmer et élargir les interceptions historiques de haute teneur en or, y compris 27,9 mètres de 6,4 gpt d'or.
4. Plusieurs cibles régionales identifiées avec des échantillons allant jusqu'à 10,9 gpt d'or.
L'entreprise vise à explorer le potentiel polymétallique de la propriété et à étendre la minéralisation pour une future estimation des ressources. McFarlane détient également des ressources aurifères conformes sur son High Lake Property, avec 152 000 tonnes à 9,38 g/t Au dans la catégorie Indiqué.
McFarlane Lake Mining (NEO:MLM)(OTCQB:MLMLF) hat vielversprechende Ergebnisse aus jüngsten Feldproben bekanntgegeben und Expansionspläne für seine McMillan Gold Mine in Ontario skizziert. Die wichtigsten Highlights umfassen:
1. Eine Probe mit einem Ertrag von 87,4 gpt Gold und 0,59% Kupfer, die auf hochwertiges Gold und polymentallische Potenziale hinweist.
2. Ein vollständig finanzierte 3.000 Meter Winterbohrprogramm, das im 4. Quartal 2024 beginnen soll.
3. Pläne zur Bestätigung und Erweiterung historischer hochgradiger Goldziele, einschließlich 27,9 Meter mit 6,4 gpt Gold.
4. Mehrere regionale Ziele wurden identifiziert, mit Proben von bis zu 10,9 gpt Gold.
Das Unternehmen hat sich zum Ziel gesetzt, das polymentallische Potenzial des Standorts zu erkunden und die Mineralisierung für eine zukünftige Ressourcenschätzung zu erweitern. McFarlane besitzt zudem konforme Goldressourcen in seinem High Lake Property mit 152.000 Tonnen bei 9,38 g/t Au in der Kategorie Indicated.
- Recent field sample yielded 87.4 gpt gold and 0.59% copper, indicating high-grade gold and polymetallic potential
- Fully funded 3,000 metre winter drill program set to commence in Q4 2024
- Plans to confirm and expand on historic high-grade gold intercepts, including 27.9 metres of 6.4 gpt gold
- Multiple regional targets identified with samples up to 10.9 gpt gold
- McMillan Gold Mine located near major highways and power lines, potentially reducing infrastructure costs
- Company holds compliant gold resources at its High Lake Property with 152,000 tonnes at 9.38 g/t Au in the Indicated category
- No drilling has been conducted on the property since the early 2000s
- Historic drill core is not available for analysis, limiting understanding of subsurface geology
- Exploration permit for the drill program is still pending approval
Highlights
Recent field sample of 87.4 gpt gold and
0.59% copper demonstrating strong potential for high grade gold and polymetallic mineralization at past producing McMillan Gold MineFully funded 3,000 metre winter drill program commencing in Q4 2024
Drilling to confirm and expand on numerous historic high grade gold intercepts including an intercept of 27.9 metres of 6.4 gpt gold containing 8.1 metres of 15.7 gpt gold
Multiple regional targets identified across the property with samples up to 10.9 gpt gold
TORONTO, ON / ACCESSWIRE / September 10, 2024 / McFarlane Lake Mining Limited ("McFarlane" or the "Company") (NEO:MLM)(OTCQB:MLMLF), is excited to announce results of recent field sampling and highlight its upcoming exploration plans at its
The McMillan Gold Mine was a past producer of gold and is located within 3 km from major highways and power lines. Located geologically in the Huronian Gold Belt 70 km west of Sudbury (Figure 1), this area of the province has been consistently identified as a top gold and polymetallic exploration opportunity as highlighted in the Ontario Geological Survey's "Recommendation for Exploration 2010 to 2011" and "Recommendation for Exploration 2017 to 2018".
FIGURE 1 - Property Location - McMillan Gold Mine
Drilling Program
The company has applied for an exploration permit to conduct an initial 3,000 metre drill program, with plans to commence drilling in Q4 2024. The program is fully funded and designed to test and expand on historic high-grade gold intercepts at the McMillan Gold Mine (Figure 2) and to better understand the geology of the deposit.
A recent sample taken at the site, from what is interpreted to have been historic ore from the McMillan Gold Mine, returned 87.4 gpt gold,
FIGURE 2 - McMillan Mine Longitudinal Section - Historic Gold Intercepts and Mine Workings
FIGURE 3 - Recent High-Grade Gold and Copper Samples from McMillan Mine Site
The property has not been drilled since the early 2000's where exploration intersected 27.9 metres of 6.4 gpt gold including 8.1 metres of 15.7 gpt below the historic mine. In addition to testing historic intercepts, the company also plans to test the system along strike and at depth to materially expand the mineralization for a future resource estimate. Historic drill core is not available for analysis, hence upcoming diamond drilling will help understand the sub surface geology and allow for polymetallic analysis of drill core samples (ie gold, copper, cobalt and nickel).
Advancing Regional Surface Targets
The company has recently completed its regional geological data compilation on the property which was performed by ORIX Geoscience. This information is being used to assess exploration targets on the property. Multiple high-priority targets have been outlined across the underexplored 32 sq. km property (Figure 4). Evaluation of the targets has been based on positive magnetic anomalies and historic surface sampling. Historic ore at the McMillan Gold Mine contains pyrrhotite and is magnetic. Magnetic anomalies identified from historic geophysical surveys may be expressions of additional areas of mineralization and will be explored. Surface sampling -conducted in 2022 by McFarlane- associated with some of the magnetic anomalies returned assays up to 10.9 gpt gold and
Figure 4. McMillan Mine Property Regional Surface Target
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.
Technical Information
The samples collected by McFarlane Lake Mining and described in this news release were transported in secure sealed bags for preparation and assay by Agat Labs. The samples reported were crushed in their entirety to
Compliant Resources
McFarlane has compliant gold resources within its property portfolio. In 2023 McFarlane delineated a National Instrument standard 43-101 compliant gold resource for its High Lake Property located 40 kilometres west of Kenora, Ontario near the Ontario/Manitoba border. See Table 1 for the resource statement. https://mcfarlanelakemining.com/news-april-9-mcfarlane-finds-more-gold-extends-gold-mineralization-on-the-purdex-zone/
Table 1: Current Purdex Zone Mineral Resource at 2.6 g/t Au cut-off
Classification | Tonnes | Au | Au (k Oz) |
Indicated | 152 | 9.38 | 45.8 |
Inferred | 287 | 10.43 | 96.2 |
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 (see Table 1 for resource statement) located immediately 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.
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.
For Further Information, Please Contact:
Mark Trevisiol, Chief Executive Officer
McFarlane Lake Mining Limited
info@mcfarlanelakemining.com
SOURCE: McFarlane Lake Mining Limited
View the original press release on accesswire.com
FAQ
What were the results of McFarlane's recent field sampling at the McMillan Gold Mine?
When is McFarlane (MLMLF) planning to start its drilling program at the McMillan Gold Mine?
What historic gold intercepts is McFarlane aiming to confirm at the McMillan Gold Mine?
What is the current Indicated resource at McFarlane's (MLMLF) High Lake Property?
