McFarlane Lake Mining (CSE: MLM) has released new drill results from two deposits in northern Ontario. The stock moved narrowly in early trading.
Highlights include hole GL26-87 drilled on the western side of the Golden Lake deposit. GL26-87 intersected 93 metres of 0.89 grams per tonne of gold. This intersection extended the strike to a length of 1.9 kilometres.
New mineralization in the hanging wall also returned long, near‑surface intercepts from holes GL‑83A and GL‑83, including 179.1 metres of 0.87 grams per tonne of gold and 155 metres of 0.9 grams per tonne of gold.
The company’s news release also spotlighted new mineralization intercepts at the 826 zone, where it drilled eight new holes covering an additional 1,350 metres. Full assays are expected in the coming weeks.
Mark Trevisiol, the CEO of McFarlane, called both Golden Lake and 826 zone impressive. “We believe we are just scratching the surface on this property with significant upside to add significantly more gold mineralization,” he added.
The company said drilling will continue at Golden Lake, with work split between infill and exploration, and at the Juby project, where drilling is focused on its planned 2027 bulk sample.
Drilling for the upcoming mineral resource estimates (MRE) finished in June. Despite a delay from lab equipment failure, McFarlane said it now has all results and expects to release the estimates in two to three weeks.
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