McFarlane Completes Geophysical Survey at Its Past Producing McMillan Gold Mine

TORONTO, ON / ACCESSWIRE / April 23, 2024 / McFarlane Lake Mining Limited ("McFarlane" or the "Company") (NEO:MLM)(OTCQB:MLMLF), a Canadian mineral exploration and development company, is pleased to provide an update on the recent exploration activities at its past producing McMillan Gold mine 70 km west of Sudbury.

McFarlane contracted Dan Patrie Exploration Ltd. to provide geophysical services to conduct an Induced Polarized ("IP") geophysical survey on the property. An IP survey is typically used where gold is found within iron sulphide bearing minerals, this is the case for the McMillan deposit. Figure 1 identifies the area were where the survey was conducted. The survey covered 1.4 square kilometers on surface around the McMillan Mine. A 10 km east west trending fault system called the "House Lake Fault" traces through the property (Figure 3). The McMillan mine occurs near this fault system as well as a number of historical gold showings. Results of the geophysical survey are pending.

The McMillan property hosts some past historic high grade gold intercepts. These historic intercepts are shown in Figure 2. Drill hole MM-05-13 intersected 7.2 grams per tonne gold over 21.3 meters while drill hole MM-05-04 intersected 11.2 gram per tonne over 4.7 meters. Historical information has the mine producing 60,000 tonnes of gold ore at a grade of 6 grams per tonne. A longitudinal section of the mine is shown in Figure 2 illustrating some of the past underground workings of the mine as well as historic high grade gold intercepts.

In addition to the McMillan Mine, McFarlane also has a significant land position in the adjacent Mongowin property. Mongowin has the past producing gold mine of Fox Lake Mine which was developed next to the Fox Lake Fault (Figure 3). The Fox Lake fault runs northeast and southwest and intersects the House Lake fault. There is potential for more gold resources to be found around these two fault systems through future exploration.

Figure 1 - McMillan Geophysical Survey Area

Foto: Accesswire

Figure 2 - McMillan Mine - Historical Longitudinal Section-

Foto: Accesswire

Figure 3 - Fault Systems on McMillan and Mongowin Properties

Foto: Accesswire

McFarlane has compliant gold resources within its property portfolio. In 2023 McFarlane delineated a National Instrument standard 43-101 compliant gold resource for its High Lake Property located 40 kilometres west of Kenora, Ontario near the Ontario/Manitoba border. See Table 1 for the resource statement. McFarlane is still awaiting some drilling assays on its recently completed drilling program at High Lake, see announcement on April 9, 2004 and this link https://mcfarlanelakemining.com/news-april-9-mcfarlane-finds-more-gold ... to the press release for the latest on the drilling program.