- McFarlane Lake Mining Limited (MLM) reported that initial drilling on its High Lake Property in Ontario has discovered high-grade gold
- The first five drill holes of the 10,000-metre drill program have successfully intersected high grades at the Purdex Zone
- This confirmed the expected high grade based on existing historical resources
- The company will continue to drill around the zone to find more gold mineralization
- McFarlane Lake Mining Limited (MLM) is up 38.50 per cent and is trading at $0.09 per share as of 3:22 p.m. EST
McFarlane Lake Mining Limited (MLM) reports that initial drilling on its High Lake Property in Ontario has discovered high-grade gold.
The first five drill holes of the 10,000-metre drill program have successfully intersected high grades at the Purdex Zone, confirming the expected high grade based on existing historical resources.
According to the company, drilling in hole MLHL-22-28 had several intercepts of high-grade gold mineralization. This was a near-surface hole drilled to a depth of 63 metres.
The intersection of mineralization started at a depth of 17.80 metres from the surface and extended to 24 metres depth. Two distinct visible gold occurrences were noted in the drill core.
Hole MLHL-22-28 was an unplanned hole drilled as a follow-up to MLHL-22-01, where gold mineralization was intersected.
Bob Kusins, Vice President of Geology for McFarlane Lake, commented,
“Our plan is to continue to drill off the Purdex Zone where we believe more opportunity exists to intersect additional gold mineralization.”
McFarlane Lake Mining Limited (MLM) is up 38.50 per cent and is trading at $0.09 per share as of 3:22 p.m. EST.