Business
McFarlane Lake Announces Recent Gold Exploration Confirms High Grade Historical Resource and Expands It by 75% in NI-43-101 Compliant Resource
Updated NI 43-101 Technical Report Reveals 10.32 Grams per Tonne Gold and 9.38 Grams per Tonne Go...
About this update from Mcfarlane Lake Mining Limited
[{"type":"text","content":"McFarlane Lake Announces Recent Gold Exploration Confirms High Grade Historical Resource and Expands It by 75% in NI-43-101 Compliant ResourceUpdated NI 43-101 Technical Report Reveals 10.32 Grams per Tonne Gold and 9.38 Grams per Tonne Gold Contained in 96,200 Inferred Ounces and 45,800 Indicated Ounces of Gold Respectively at High Lake Property Near Surface High Grade Gold Resource Identified Toronto, Ontario--(Newsfile Corp. - May 23, 2023) - McFarlane Lake Mining Limited (NEO: MLM) (OTCQB: MLMLF) (\"McFarlane Lake\" or the \"Company\"), a Canadian gold exploration and development company, is pleased to announce the Initial Mineral Resource Estimate (\"MRE\") of the Purdex Zone on our 100% owned High Lake Property west of Kenora, Ontario. This MRE has been classified in accordance with CIM Definition Standards on Mineral Resources and Mineral Reserves (CIM, 2014) and follows the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (CIM, 2019). It is based on our recently completed drilling program and mineralization modelling. Mineral Resource Estimate HighlightsMcFarlane completed 46 drill holes totalling 10,437 metres in the Purdex Zone from November of 2022 to February of 2023, which delivered multiple impressive near-surface and at depth gold intersections, including; December 12, 2022 - 9.82 g/t gold over 9.75 metres within 20 metres from surfaceJanuary 9, 2023 - 24.96 g/t gold over 14.9 metres, 325 metres from surface January 25, 2023 - 13.52 g/t gold over 6.5 metres, 229 metres from surface February 7, 2023 - 148.37 g/t gold over 1.3 metres, 107 metres from surfaceFebruary 28, 2023 - 6.14 g/t gold over 24.55 metres within 15 metres from surfaceMarch 6, 2023 - 9.2 g/t gold over 26.4 metres, from 280 metres downholeApril 11, 2023 - 8.27 g/t gold over 3.95 metres from 201 metres downhole See figure 1 for location. For the full press releases see, https://mcfarlanelakemining.com/news-2/.The MRE was independently prepared by P&E Mining Consultants Inc in accordance with National Instrument 43-101 (\"NI-43-101\"), with an effective date of April 14, 2023. The full Technical Report, which is being prepared in accordance with NI-43-101 will be available on SEDAR (www.sedar.com) under the Corporation's issuer profile within 45 days of this news release. Most of the estimated Mineral Resource ton...