Continued Positive Results from Exploration Drilling, McFarlane Intersects Second Wide Zone of Gold Mineralization at McMillan Returning 51.6 Meters (m) of 2.0 Grams per Tonne (gpt) Gold, Containing a Higher-Grade Zone of 5.5 gpt Gold over 7.55 m That Included 16.1 gpt Gold over 1.8 m; Exploration Drilling Continues
McFarlane intersects a second wide zone of gold mineralization in a 50 metre step out approximately 300 below surface and underneath the past producing McMillan Gold Mine.
Hole MLMM-25-04 intersected 2.0 gpt gold over 51.65 m which included 3.1 gpt over 21.1 m. Within the latter intercept were several higher-grade zones namely 5.5 gpt gold over 7.55 metres including 16.1 gpt over 1.8 m containing 56.1 gpt gold over 0.3 m, and two additional high-grade intercepts of 4.8 gpt gold over 4.4 m and 5.5 gpt gold over 2.8 m.
Drilling continues to test the continuity of this wide zone of gold mineralization, it remains open along strike and at depth
Toronto, Ontario--(Newsfile Corp. - February 10, 2025) - McFarlane Lake Mining Limited (CBOE CA: MLM) (OTCQB: MLMLF) ("McFarlane" or the "Company"), is excited to announce additional results of recent diamond drilling conducted at its 100% owned past producing McMillan Gold Mine located 70 km west of Sudbury, Ontario (see Figure 1).
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, 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 between 2010 and 2025.
Hole MLMM-25-04 was drilled approximately 50 metres below and 20 metres west of hole MLMM-08-05W1 to test a Borehole Electromagnetic (EM) anomaly. Assay results returned 2.0 gpt gold over 51.6 metres, including 3.1 gpt gold over 21.15 metres. The wide zone of mineralization also included three higher-grade intervals of 5.5 gpt gold over 7.55 metres, 5.5 gpt gold over 2.8 metres, and 4.8 gpt gold over 4.4 metres. Drill assay highlights are shown in Table 1. A longitudinal section of the recent drilling is shown in Figure 2, and Figure 3 features a photo of the broad zone of mineralized quartz-sulphide stockwork from hole MLMM-25-04.
Previously announced drill hole MLMM-08-05W1, see news release February 3, 2025, returned 2.7 gpt gold over 31.35 metres including 5.6 gpt gold over 13 metres that contained a higher-grade zone of 10.7 gpt gold over 5 metres. Hole MLMM-08-05W1 and hole MLMM-25-04, reported in this release, have discovered a wide zone of gold mineralization hosted in quartz sulphide stockwork that is open along strike and at depth.
The mineralization quartz stockwork contains a variety of sulphide minerals, including chalcopyrite (a copper-bearing mineral), pyrite, pyrrhotite, and arsenopyrite. Base metal assay results for copper, nickel, and cobalt from both holes are still pending. McFarlane's drill program is still underway and plans to test the continuity of this wide zone of gold mineralization.
"We are excited by what we see," said Mark Trevisiol, CEO of McFarlane Lake Mining, adding "to get high-grade gold intercepts within a wide zone of mineralization is a spectacular result," adding "our team is now focused on exploring this trend with 'step out' drill holes to test this broad zone of gold mineralization along strike and at depth."
Based on drill and geophysical data from this recent drill program, McFarlane believes the main zone of the ore body is dipping steeply to the north (into the page of Figure 2) and plunging in an eastern (right) direction. Drilling will focus in the exploration area as outlined.
Figure 2. McMillan Mine Longitudinal Section Looking North - Recent and Historic Gold Intercepts and Historic Mine Workings
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 drill core samples collected by McFarlane Lake Mining and described in this news release were placed in core boxes by the drill crew contracted by the company. Core was then transported by McFarlane personal to a secure processing facility. The core is then reviewed with core metreage blocks checked to verify core integrity, geologically logged and samples marked. Core samples are cut in half, with one half remaining in the box and the other inserted into a clean plastic bag with a sample tag. Certified reference materials are inserted into the sample stream at a rate no less than 10%. Samples are then transported in secure sealed bags with security tags for preparation and assay by MSA Labs in Timmins a certified lab with AC89, IAS accreditation and compliance with ISO/IEC standard 17025:2017. Samples reported were crushed in their entirety to 70% passing 2 mm, with one 300 to 500 g subsample split and placed into a jar for analysis by photon assay. Samples with visible gold were assayed to completion by splitting the sample into multiple 300 to 500g jars until no material remains with analysis by photon assay.
Historical information has been taken from the "Technical Report on the McMillan Gold Mine Property compiled for Garson Resources 2006, by H.R. Butler.
Table 1: Current Purdex Zone Mineral Resource at 2.6 g/t Au cut-off
Classification
Tonnes (k)
Au (g/t)
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.
