McFarlane Lake Mining files mineral resource estimate for Juby Gold Project

• McFarlane Lake Mining Ltd. (CSE:MLM) filed a Mineral Resource Estimate (MRE) for its newly acquired Juby Gold Project in Ontario’s Abitibi Belt, effective September 29, 2025
• The estimate, prepared under NI 43-101 standards, uses ordinary kriging within 3D block models and reports resources within open-pit (0.25 g/t Au) and underground (1.85 g/t Au) cut-off grades
• Assumptions include a US$2,500/oz gold price, 92 per cent recovery, and costs of US$11/t processing, US$4/t G&A, and US$2/t tailings, with resources noted as not economically viable reserves
• McFarlane Lake Mining stock (CSE:MLM) opened trading at $0.07

McFarlane Lake Mining Ltd. (CSE:MLM) announced that it has filed a mineral resource estimate (MRE) for its recently acquired Juby Gold Project, located in the prolific Abitibi Greenstone Belt in Ontario, Canada. The estimate marks a significant milestone for the company as it advances exploration and development in one of Canada’s most renowned gold districts.

Prepared by Todd McCracken, P.Geo, of BBA E&C Inc., the resource estimate adheres to CIM Definition Standards and complies with National Instrument 43-101 guidelines for mineral project disclosure.

Key highlights of the mineral resource estimate

• Estimation methodology: The 2025 resource models utilized ordinary kriging (OK) grade estimation within a three-dimensional block model, with mineralized domains defined by wireframe solids.
• Mining constraints: Resources are reported within open-pit shells (OP) and underground shapes (UG).
• Cut-off grades:
  • Open Pit: 0.25 g/t Au based on incremental mining, processing, and G&A costs.
  • Underground: 1.85 g/t Au based on similar cost assumptions.
• Economic assumptions:
  • Long-term gold price: US$2,500/oz
  • Metallurgical recovery: 92 per cent
  • Processing costs: US$11.00/t, G&A: US$4.00/t, Tailings: US$2.00/t
  • Dilution: 5 per cent OP, 10 per cent UG
  • Overall pit slope: 47°
• Note: Mineral resources are not mineral reserves and do not demonstrate economic viability. Figures may not sum due to rounding.

Table 1 – Detail mineral resource estimate within pit shell and underground shapes

(OP= Open Pit, UG= Underground, Mt= Millions tonnes, Moz= Millions Ounces, Au= Gold metal)

McFarlane Lake Mining emphasized that the Juby Gold Project represents a significant addition to its portfolio, offering strong potential for future development given its location in the Abitibi Belt—a region historically known for hosting world-class gold deposits.

“With the MRE now filed, our focus turns to unlocking the upside that this deposit offers. Our team has already identified several high-priority targets where we see strong potential to expand both open-pit and underground resources,” McFarlane’s CEO, Mark Trevisiol said in a news release. “We expect to announce our strategic exploration plans shortly, which will outline a targeted, results-driven program designed to build shareholder value.”

The full technical report supporting the MRE is set to be filed on SEDAR+ within 45 days.

McFarlane Lake Mining Ltd. is a Canadian gold exploration and development company.

McFarlane Lake Mining stock (CSE:MLM) opened trading more than 7 per cent higher at $0.07.

Join the discussion: Find out what the Bullboards are saying about McFarlane Lake Mining and check out Stockhouse’s stock forums and message boards.

Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.