McFarlane Lake Mining Restricted (“McFarlane” or the “Firm”) (NEO:MLM)(OTCQB:MLMLF), is happy to announce outcomes of latest subject sampling and spotlight its upcoming exploration plans at its 100% owned McMillan Gold Mine positioned 70 kilometers west of Sudbury, Ontario.
Highlights
- Latest subject pattern of 87.4 gpt gold and 0.59% copper demonstrating robust potential for prime grade gold and polymetallic mineralization at previous producing McMillan Gold Mine
- Totally funded 3,000 metre winter drill program commencing in This autumn 2024
- Drilling to verify and develop on quite a few historic excessive grade gold intercepts together with an intercept of 27.9 metres of 6.4 gpt gold containing 8.1 metres of 15.7 gpt gold
The McMillan Gold Mine was a previous producer of gold and is positioned inside 3 km from main highways and energy traces. Positioned geologically within the Huronian Gold Belt 70 km west of Sudbury (Determine 1), this space of the province has been constantly recognized as a high gold and polymetallic exploration alternative as highlighted within the Ontario Geological Survey’s “Suggestion for Exploration 2010 to 2011” and “Suggestion for Exploration 2017 to 2018”.
FIGURE 1 – Property Location – McMillan Gold Mine
Drilling Program
The corporate has utilized for an exploration allow to conduct an preliminary 3,000 metre drill program, with plans to start drilling in This autumn 2024. This system is absolutely funded and designed to check and develop on historic high-grade gold intercepts on the McMillan Gold Mine (Determine 2) and to higher perceive the geology of the deposit.
A latest pattern taken on the web site, from what’s interpreted to have been historic ore from the McMillan Gold Mine, returned 87.4 gpt gold, 0.59% copper and anomalous cobalt and nickel (Determine 3). This has demonstrated the potential for high-grade gold throughout the setting of a polymetallic mineralized system. To date, McFarlane has not seen any historic assays for copper and different base metals in historic information from the mine. This presents a possibility so as to add important worth to the property. The corporate can also be testing for platinum and palladium values, these have but to be obtained.
FIGURE 2 – McMillan Mine Longitudinal Part – Historic Gold Intercepts and Mine Workings
FIGURE 3 – Latest Excessive-Grade Gold and Copper Samples from McMillan Mine Website
The property has not been drilled because the early 2000’s the place exploration intersected 27.9 metres of 6.4 gpt gold together with 8.1 metres of 15.7 gpt under the historic mine. Along with testing historic intercepts, the corporate additionally plans to check the system alongside strike and at depth to materially develop the mineralization for a future useful resource estimate. Historic drill core just isn’t obtainable for evaluation, therefore upcoming diamond drilling will assist perceive the sub floor geology and permit for polymetallic evaluation of drill core samples (ie gold, copper, cobalt and nickel).
Advancing Regional Floor Targets
The corporate has not too long ago accomplished its regional geological information compilation on the property which was carried out by ORIX Geoscience. This info is getting used to evaluate exploration targets on the property. A number of high-priority targets have been outlined throughout the underexplored 32 sq. km property (Determine 4). Analysis of the targets has been based mostly on constructive magnetic anomalies and historic floor sampling. Historic ore on the McMillan Gold Mine comprises pyrrhotite and is magnetic. Magnetic anomalies recognized from historic geophysical surveys could also be expressions of extra areas of mineralization and will probably be explored. Floor sampling -conducted in 2022 by McFarlane- related to a number of the magnetic anomalies returned assays as much as 10.9 gpt gold and 0.12% copper, in addition to anomalous cobalt and nickel as much as 487 and 468 ppm respectively. The identification of polymetallic mineralization suggests robust potential exists throughout the property that was not traditionally examined. Previous to the upcoming drill program, the corporate plans to guage these regional targets for polymetallic gold mineralization in hopes to find extra prospects for drilling.
Determine 4. McMillan Mine Property Regional Floor Goal
Certified Particular person
The scientific and technical info disclosed on this information launch was reviewed and accepted by Wesley Whymark, P. Geo., Consulting Geologist for the corporate, and a Certified Particular person as outlined underneath Nationwide Instrument 43-101.
Technical Info
The samples collected by McFarlane Lake Mining and described on this information launch have been transported in safe sealed luggage for preparation and assay by Agat Labs. The samples reported have been crushed of their entirety to 80% passing -10 mesh, with one 500 g subsample cut up and pulverized to 95% passing 150 mesh. One 50 g aliquot was taken from the subsample for fireplace assay (FA) with an AAS end. Samples over 10 g/t gold have been topic to a 50 g aliquot FA with gravimetric end. Multi-element assays have been completed by ICP-OES end.
Compliant Assets
McFarlane has compliant gold sources inside its property portfolio. In 2023 McFarlane delineated a Nationwide Instrument normal 43-101 compliant gold useful resource for its Excessive Lake Property positioned 40 kilometres west of Kenora, Ontario close to the Ontario/Manitoba border. See Desk 1 for the useful resource assertion. https://mcfarlanelakemining.com/news-april-9-mcfarlane-finds-more-gold-extends-gold-mineralization-on-the-purdex-zone/
Desk 1: Present Purdex Zone Mineral Useful resource at 2.6 g/t Au cut-off
About McFarlane Lake Mining Restricted
McFarlane is a gold exploration firm targeted on the exploration and improvement of its portfolio of properties. The previous producing McMillan and Mongowin gold properties, positioned 70 km west of Sudbury, Ontario, the previous producing West Hawk Lake property positioned instantly west of the Ontario-Manitoba border, and the Excessive Lake gold property (see Desk 1 for useful resource assertion) positioned instantly east of the Ontario-Manitoba border and eight km from the West Hawk lake property. McFarlane additionally owns the Michaud/Munro mineral property located 115 km east of Timmins alongside the so-called “Golden Freeway”. McFarlane is a “reporting issuer” underneath relevant securities laws within the provinces of, British Columbia, Alberta and Ontario.
Further info on McFarlane could be discovered by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Observe Concerning Ahead-Trying Info
This information launch comprises “forward-looking info” and “forward-looking statements” (collectively, “forward-looking statements”) throughout the that means of the relevant Canadian securities laws. All statements, apart from statements of historic truth, are forward-looking statements and are based mostly on expectations, estimates and projections as on the date of this information launch, together with with out limitation; anticipated outcomes of geophysical surveys or drilling packages, estimated timing, geological interpretations and potential mineral restoration processes. Any assertion that includes discussions with respect to predictions, expectations, beliefs, plans, projections, goals, assumptions, future occasions or efficiency (typically however not at all times utilizing phrases equivalent to “expects”, or “doesn’t count on”, “is predicted”, “anticipates” or “doesn’t anticipate”, “plans”, “price range”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such phrases and phrases or stating that sure actions, occasions or outcomes “might” or “might”, “would”, “may” or “will” be taken to happen or be achieved) are usually not statements of historic truth and could also be forward-looking statements.
Ahead-looking statements contain recognized and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency, or achievements of McFarlane to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements. Components that might trigger precise outcomes to vary materially from these anticipated in these forward-looking statements are described underneath the caption “Danger Components” within the Submitting Assertion dated as of January 14, 2022, which is offered for view on SEDAR at www.SEDAR.com Ahead-looking statements contained herein are made as of the date of this press launch, and McFarlane disclaims, apart from as required by legislation, any obligation to replace any forward-looking statements whether or not because of new info, outcomes, future occasions, circumstances, or if administration’s estimates or opinions ought to change, or in any other case. There could be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, the reader is cautioned to not place undue reliance on forward-looking statements.
For Additional Info, Please Contact:
Mark Trevisiol, Chief Government Officer
McFarlane Lake Mining Restricted
information@mcfarlanelakemining.com
