McFarlane Files Mineral Resource Estimate on Juby Gold Project

Core Insights - McFarlane Lake Mining Limited has filed a Mineral Resource Estimate (MRE) for its Juby Gold project, marking a significant milestone for the company and validating the project's potential in Ontario's Abitibi Belt [2][3][11] Company Overview - McFarlane Lake Mining Limited is a Canadian gold exploration and development company focused on the Juby Gold Project, which is located in the Abitibi Greenstone Belt [12][15] - The company holds a portfolio of 100%-owned gold assets in Ontario, including the McMillan Gold Mine and Mongowin properties [15] Mineral Resource Estimate Details - The MRE indicates a total of 1.01 million ounces of gold in the Indicated category at an average grade of 0.98 g/t gold, contained in 31.74 million tonnes, and 3.17 million ounces in the Inferred category at an average grade of 0.89 g/t gold, contained in 109.48 million tonnes [12][13] - The estimate was calculated using a long-term gold price of US$2,500 per ounce, with cut-off grades of 0.25 g/t for open-pit and 1.85 g/t for underground resources [12][10] Exploration and Development Plans - The company plans to focus on unlocking the potential of the Juby deposit, with several high-priority targets identified for resource expansion [3][14] - An exploration drilling program and additional technical studies are actively being planned to further evaluate the gold system [14] Technical Report and Compliance - The MRE was independently prepared by BBA E&C Inc. in accordance with National Instrument 43-101 standards, providing third-party validation of the resource's scale and quality [7][14] - The Technical Report is available on SEDAR+ and the company's website, detailing the methodology and data verification processes [9][14]