Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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.

Source: McFarlane Lake Mining Limited.

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.


More From The Market Herald

" VRIC 2023: Canada’s largest mining conference returns amid commodity resurgence

Later this month, the Vancouver Resource Investment Conference (VRIC) will gather over 300 junior mining companies, over 100 expert speakers and over 5,000...

" Mining investors rejoice! VRIC 2023 fast approaches

Less than one week from today, the Vancouver Resource Investment Conference (VRIC) will showcase over 300 of the most prominent companies in the

" @ the Bell: Tech leads TSX comeback

It was another rocky day for Canada’s main stock index that ultimately ended up in the green thanks to a lead powered by
Geomega Resources - President & CEO, Kiril Mugerman

" Geomega Resources (TSXV:GMA) granted $3M for recycling demo plant

Geomega Resources (GMA) has been awarded a $3 million grant from the government of Quebec’s Technoclimat Program.