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McFarlane Lake Mining Announces Staking of New Claims Near its Past Producing McMillan Property
Toronto, Ontario--(Newsfile Corp. - October 11, 2022) - McFarlane Lake Mining Limited (NEO: MLM) (OTCQB: MLMLF) ("McFarlane Lake" or "the Company"), a Canadian
About this update from Mcfarlane Lake Mining Limited
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - October 11, 2022) - McFarlane Lake Mining Limited (NEO: MLM) (OTCQB: MLMLF) (\"McFarlane Lake\" or \"the Company\"), a Canadian gold exploration and development company, today announced that it has acquired 16 new claims for its McMillan/Mongowin property located near Espanola, Ontario approximately 80 kilometres southwest of Sudbury, Ontario. All 16 claims were staked through the Ontario Mining Lands Administration System by McFarlane Lake. These new claims substantially increase the Company's land holdings in the area by 352.5 hectares to 3,247.5 hectares (Figure 1). Figure 1 - McMillan/Mongowin location of new claims These newly acquired claims extend McFarlane Lake's coverage of the favourable gold mineralizing contact between the Espanola and Gowganda Formations by 1.9 kilometres. In the late 1930s and early 1940s, several historic gold mining operations were located along this structure (Figure 2). Figure 2 - McMillan Mine area additional claims and gold showings A working gold mine was present on the Company's McMillan property which between 1934 and 1937 reported production of 60,139 tons of ore for a recovered grade of 0.176 ounces per ton (6.03 grams per tonne) (NI 43-101 Report, Butler 2006). In addition, Bob Tough Gold Mines explored an area immediately west of the current claims in 1935 with test pitting and shaft sinking to a depth of 150 feet and crosscutting for 118 feet on the 150-foot level and reported grades of up to 3.61 ounces per ton of gold (123.77 grams per tonne) (Assessment Work Report 41I04NW0045, Filo 1984). The Ontario Geological Survey has identified this specific area of the province as \"Recommendations for Exploration,\" as noted in their report for 2011/12 and 2017/18. \"With past gold mining activity in this area, we are excited to add these claims to our portfolio. These claims enhance our already attractive land position on the McMillan Mine trend and significantly increases our exploration opportunities,\" said Mark Trevisiol, President and CEO of McFarlane Lake. \"This is aligned with our strategy of targeting areas with historic mineralization and gold production to develop NI 43-101 compliant resources. A simple strategy of 'go find gold where it's been found and mined before'.\" McFarlane Lake Mining has successfully implemented this strate...