Welcome to our dedicated page for MCFARLANE LAKE MINING news (Ticker: MLMLF), a resource for investors and traders seeking the latest updates and insights on MCFARLANE LAKE MINING stock.
McFarlane Lake Mining Limited (MLMLF) is a Canadian gold exploration company focused on advancing high-grade mineral resources through systematic drilling and geophysical surveys. This news hub provides investors and industry professionals with centralized access to official updates and analysis on the company's exploration progress and strategic developments.
Track key updates including project milestones, technical reports, and corporate announcements. All content is verified for accuracy and compliance with NI-43-101 standards, offering reliable insights into the company's operations across Ontario's mining regions.
Discover how McFarlane Lake Mining combines historical data with modern exploration techniques to expand its resource base. Stay informed about drilling results, quality control measures, and partnerships that shape the company's growth trajectory.
Bookmark this page for real-time updates and in-depth coverage of MLMLF's activities in the competitive gold exploration sector. Access essential news and press releases in one trusted location for informed decision-making.
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 (CBOE:MLM)(OTCQB:MLMLF) has awarded a diamond drilling contract for its winter program at the 100% owned McMillan Mine property, located 70 kilometers west of Sudbury, Ontario. The company plans to drill a minimum of 3,000 meters to test and expand on historic high-grade gold intercepts and better understand the deposit's geology.
A recent sample from the site returned 87.4 gpt gold, 0.59% copper and anomalous cobalt and nickel, demonstrating potential for high-grade gold within a polymetallic mineralized system. McFarlane has also strengthened its geological team by adding Wesley and Winston Whymark, experienced professionals in mineral exploration with familiarity in the McMillan Mine's geological setting.
The company has a compliant gold resource at its High Lake Property, with an Indicated resource of 152,000 tonnes at 9.38 g/t Au for 45,800 ounces, and an Inferred resource of 287,000 tonnes at 10.43 g/t Au for 96,200 ounces.
McFarlane Lake Mining (CBOE:MLM)(OTCQB:MLMLF) has announced its participation in the Red Cloud Securities Fall Mining Conference on October 16th and 17th, 2024. CEO Mark Trevisiol is scheduled to present the company's latest exploration plans for the past-producing McMillan Gold Mine on October 17th at 4:00 p.m. at the Sheraton Centre Hotel in Toronto, Ontario.
McFarlane will also be available for one-on-one business meetings at their designated booth. The company focuses on gold exploration and development, with properties including the McMillan and Mongowin gold properties near Sudbury, Ontario, the West Hawk Lake property on the Ontario-Manitoba border, the High Lake gold property, and the Michaud/Munro property east of Timmins.
McFarlane Lake Mining (NEO:MLM) has received an exploration permit from the Ontario Ministry of Mines for its McMillan Mine property, located approximately 70 kilometers east of Sudbury, Ontario. The permit allows for activities including line-cutting, geophysical surveys, and diamond drilling. The company is planning an initial 3,000-meter diamond drilling program.
Recent surface sampling at the property yielded an assay of 87.4 gpt gold and 0.59% copper. The presence of polymetallic gold-copper mineralization presents an opportunity to add significant value. Field preparations for drilling will begin in September, with drilling expected to start in November and continue into Q1 2025. The program aims to confirm and expand on historic high-grade gold intercepts, including 27.9 metres of 6.4 gpt gold containing 8.1 metres of 15.7 gpt gold.
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.
On June 27, 2024, McFarlane Lake Mining closed the final tranche of its $1.55 million private placement offering. This last segment included 8,266,666 units at $0.045 per unit and 200,000 flow-through shares at $0.05 each, raising $382,000. The units consist of one common share and half a warrant, exercisable at $0.07 per share until December 27, 2025. The raised funds will support exploration at the McMillan and West Hawk Lake properties, expand gold resources at High Lake, and general working capital. Notably, insiders invested $185,000 in this tranche. The offering awaits final regulatory approval and all securities are subject to a four-month holding period ending October 28, 2024.
McFarlane Lake Mining has applied for an early exploration permit for its McMillan Mine and Mongowin properties in Ontario, aiming to follow up on high-grade historical gold intercepts. The McMillan Mine, which produced over 10,000 ounces of gold in the 1930s, yielded notable drilling results from 2000 to 2006, including 7.2 grams per tonne (g/t) gold over 21.3 meters and 11.2 g/t gold over 4.7 meters. The company plans a fall drilling program, including line cutting and diamond drilling, to confirm and expand gold mineralization. Additionally, McFarlane holds a compliant gold resource at its High Lake Property, with 45.8k ounces indicated and 96.2k ounces inferred gold resources.
McFarlane Lake Mining (MLMLF) announced the closure of the first tranche of its non-brokered private placement offering, raising approximately $1,170,040. This involved issuing 10,556,443 Units at $0.045 per Unit and 13,900,000 flow-through shares (FT Shares) at $0.05 per share. Strong demand has led to the upsizing of the offering to $1.5 million. The second tranche is expected to close around June 10, 2024. Each Unit includes one common share and one-half warrant, exercisable at $0.07 until December 7, 2025. The raised funds will support exploration at McMillan and West Hawk Lake properties, expansion of resources at High Lake, and general working capital. The FT Shares will be used for Canadian exploration expenses, qualifying as flow-through mining expenditures. The offering awaits final acceptance from Cboe Canada Inc. An insider participated with $100,000, constituting a related party transaction under MI 61-101.
McFarlane Lake Mining announced a non-brokered private placement to raise up to C$1 million through the sale of up to 22,222,222 units at C$0.045 per unit and up to 20,000,000 flow-through shares at C$0.05 per share. Each unit consists of one common share and one-half of a common share purchase warrant exercisable at C$0.07 per share for 18 months. The funds will be used to explore McMillan and West Hawk Lake gold properties, expand gold resources at the High Lake property, and for general working capital. The offering's completion is uncertain and subject to regulatory approvals.
