- 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)
| Resource
Classification | Constraints | Cut-off Grade (Au g/t) | Tonnage
(Mt) | Grade
(Au g/t) | Contained
Metal (Moz) |
| Indicated | OP | 0.25 | 30.78 | 0.94 | 0.93 |
| Indicated | UG | 1.85 | 0.96 | 2.66 | 0.08 |
| Total Indicated | OP/UG | 0.25/1.85 | 31.74 | 0.98 | 1.01 |
| Inferred | OP | 0.25 | 105.79 | 0.83 | 2.81 |
| Inferred | UG | 1.85 | 3.69 | 2.86 | 0.36 |
| Total Inferred | OP/UG | 0.25/1.85 | 109.48 | 0.89 | 3.17 |
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.
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