Business
Gold Exploration Program Commences at McFarlane's High Lake Property
Toronto, Ontario--(Newsfile Corp. - November 9, 2022) - McFarlane Lake Mining Limited (NEO: MLM) (OTCQB: MLMLF) ("McFarlane Lake" or "McFarlane" or "the Company
About this update from Mcfarlane Lake Mining Limited
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - November 9, 2022) - McFarlane Lake Mining Limited (NEO: MLM) (OTCQB: MLMLF) (\"McFarlane Lake\" or \"McFarlane\" or \"the Company\"), a Canadian gold exploration and development company, today announced that it has commenced an exploration program involving ground geophysics and diamond drilling at the Company's High Lake property in Ontario, three kilometres from the Trans Canada Highway near the Ontario-Manitoba border (see Figure 1). The High Lake property, like McFarlane's West Hawk Lake property, has historical gold resources listed in Table 1 below, these resources are non-compliant under National Instrument 43-101. Use the following link for the disclosure statement, which is located on the Company's website: mcfarlanelakemining.com/historic-resource-disclosure. Table 1 - Historical Resources High Lake Historical Resources Zone Tonnes Grade (g/t) Troy oz. Estimated By Date of Estimate Purdex 227,000 9.43 68,822 Jalna Resources 1989 Electrum P 9,000 9.94 2,876 Calnor Resource 1987 Electrum R 23,000 15.77 11,661 Calnor Resource 1987 Electrum W 11,000 5.49 1,942 Calnor Resource 1987 TOTAL 270,000 9.83 85,301 \"The Exploration Program will commence this week and consist of ground geophysical data collection and its interpretation, accompanied by an 8,000 to 10,000-metre program of diamond drilling,\" said Bob Kusins, VP of Geology of McFarlane Lake. \"A key focus will be the Purdex Zone at the property, which has only been tested to a depth of 100 metres and has significant potential for adding compliant gold ounces. We expect the drilling campaign to be complete in the new year, with initial assay results being released in the coming weeks.\" Figure 2 shows some of the historical intercepts on the High Lake Property, they stretch across the span of the claims, which cover over 584.3 hectares or 1,444.2 acres. Over the last few months, McFarlane has added claims to its complement at High Lake. Of high interest are the claims added immediately to the Northeast of the Purdex Zone, with geology indicating the potential for the mineralization to dip towards the newly added claims. Figure 1 - McFarlane Lake Mining property location - High Lake and West Hawk Lake Properties Figure 2: The High Lake Property - Plan View - Historical sampling highlighted, see the following r...