McFarlane Lake Mining Ltd. Announces Significant Gold Mineralization at the Juby Gold Project
McFarlane Lake Mining Ltd. (CSE: MLM, OTC: MLMLF, FRA: W2Z) released results from its ongoing diamond‑drilling program on its 100‑percent owned Juby Gold Project, located west of Gowganda, Ontario, in the southern Abitibi Greenstone Belt.
Drilling Highlights
| Drill Hole | Intercept | Grade (g/t) | Length (m) |
|---|---|---|---|
| GL 26‑73A | 0.67 g/t gold | 136 m | 19.55 m @ 1.51 g/t, 51.35 m @ 0.78 g/t |
| GL 26‑71 (updated) | 0.88 g/t gold | 208.2 m | 95.4 m @ 1.36 g/t (incl. 55.4 m @ 1.96 g/t, 9.9 m @ 3.22 g/t), 45.15 m @ 0.74 g/t, 26.7 m @ 0.68 g/t, 18 m @ 0.05 g/t, 22.95 m @ 0.08 g/t |
| GL 26‑74, 26‑75, 26‑76 | Mineralization logged > 100 m | • | • |
The data confirm that gold mineralization extends beyond 400 m on strike at the Golden Lake deposit, with widths consistently exceeding expectations.
Project Context
- Location: Southern part of the Abitibi Greenstone Belt, near Gowganda, Ontario.
- Status: Drilling commenced in December 2025, beginning at the 826 Zone and progressing to the Golden Lake Zone.
- Future Work: Drill holes GL 26‑74, 26‑75, and 26‑76 are complete and await laboratory sampling; additional drilling is planned to further delineate the deposit.
Company Profile
McFarlane Lake Mining Ltd. is a Canadian mining company incorporated in Canada and listed on the OTC Bulletin Board. As of 9 April 2026, the company’s stock closed at CAD 0.155, with a market capitalization of CAD 57,280,000. The 52‑week trading range was CAD 0.175 (high) to CAD 0.020 (low). The price‑earnings ratio is negative at –2.18, reflecting the exploratory nature of the company’s operations.
The drilling results support the company’s objective of expanding the known gold resource at the Juby Gold Project and provide a basis for future feasibility and development studies.
