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McFarlane Lake Mining Fast-Tracks Juby Gold Project Growth, Initiating MRE Update and Advancing the Extraction of Bulk Sample of Gold Mineralization
TORONTO, April 29, 2026 (GLOBE NEWSWIRE) -- McFarlane Lake Mining Limited (“McFarlane” or the “Company”) (CSE: MLM, OTC: MLMLF, FRA: W2Z) is pleased to
About this update from Mcfarlane Lake Mining Limited
[{"type":"text","content":" TORONTO, April 29, 2026 (GLOBE NEWSWIRE) -- McFarlane Lake Mining Limited (“McFarlane” or the “Company”) (CSE: MLM, OTC: MLMLF, FRA: W2Z) is pleased to provide an update of ongoing exploration activities and development plans on its 100%-owned Juby Gold Project, located west of Gowganda, Ontario, within the southern part of the “Abitibi Greenstone Belt”. Highlights MRE Update Underway: Drilling results to date have exceeded expectations. At the Golden Lake deposit (Figure 1) McFarlane has established continuity of mineralization stretching over 400 metres along strike with intercepts of gold mineralization ranging from 92 metres of 0.95 grams per tonne of gold (“g/t gold”) to 208 metres of 0.88 g/t gold (see Figure 2). Engineering is actively updating geological modeling as part of a new Mineral Resource Estimate scheduled for release in June 2026. Active Drilling: Two diamond drill rigs at Golden Lake Deposit. Visible mineralized intersections extend over 100m in multiple drill holes yet to be released; more assays are expected in 2 to 4 weeks. Resource Growth: Expanding known mineralized zones and coupled with new discoveries (826 Zone) located 1.5 kilometres away from existing resource mineralization strengthens the narrative of an evolving prolific gold property. Environmental Baseline and Bulk Sample Advancement: Environmental work is underway with monthly sampling at site to support Baseline data collection. Regulatory and First Nations discussions are underway to support McFarlane’s regulatory submission of “Notice of Project Status” for 50,000 tonne bulk sample. 2027 Target: Closure Plan and bulk sample planned for 2027. Figure 1 – Property Layout showing main deposits and bulk sample area MRE Update Initiated Ahead of Schedule Based on continued success from the Company’s ongoing drill program, McFarlane is initiating an update to its Mineral Resource Estimate (“MRE”) to produce a National Instrument (NI) 43-101 compliant resource and accompanying technical report. Recent drilling has delivered consistent mineralization across multiple target areas, supporting the Company’s internal assessment that the property has the potential to significantly increase its current resources (see “About McFarlane Lake Mining” below). The updated MRE is expected in June 2026 and will incorporate results from the c...