McFarlane Adds Strategic Gold Claims Contiguous To Its High Lake Property

With historical intercept of 168 grams per tonne gold over 2.4 metres

TORONTO, ON / ACCESSWIRE / February 26, 2024 / McFarlane Lake Mining Limited ("McFarlane" or the "Company") (CBOE (formerly NEO):MLM)(OTCQB:MLMLF), a Canadian mineral exploration and development company, is pleased to announce the addition of four additional claims on its High Lake property (40 kilometres west of Kenora, Ontario) extending its property position in an area with known gold zones and their extensions in the northwest of the current property package.

The claims increase McFarlane's land position at High Lake from 584.82 to 626.00 hectares. These claims are strategically important (See Figures 1 and 2) as they fill in a gap on the western part of McFarlane's property, which hosts the extension of both the D and R zones and provides access and expansion opportunities for the A, B and C Zones.

Figure 1 - Newly Added claims

Foto: Accesswire

Historical drilling (non-NI 43-101 compliant) has outlined three zones straddling the boundary between the High Lake property and the newly added claims. Highlights from this drilling, as shown in Figure 2, include 32.2gpt Au over 3.7m in hole E-1, 22.0gpt Au over 7.3m in hole E-13 and 168.8gpt Au over 2.4m in hole E-36, respectively from Zones A, B and C. All of the above intercepts are considered historical. McFarlane Lake Mining's historical resource disclosure can be viewed here.

The addition of these new claims will allow for expansion of the known zones and potential new discoveries along projections of the mineralizing trend. Prior to adding these claims, exploration would have been limited in this highly prospective area. By having these additional claims, much deeper diamond drilling exploration can occur, increasing McFarlane's ability to explore at depth. Deeper drilling has proven to add significant gold resources elsewhere on the property at the Purdex zone.

Figure 2 - Historical Drilling Highlights

Foto: Accesswire

McFarlane Lake is currently drilling a 10,000-metre drill program at the Purdex Zone as a follow-up to the filing of an NI 43-101 compliant technical report in July 2023 that identified 96,200 Inferred ounces and 45,800 Indicated ounces of gold at a grade of 10.43 grams per tonne of gold and 9.38 grams per tonne of gold, respectively.