Macfarlane Mining LLC (CSE: MLM) It released new drilling results from two deposits in northern Ontario. The stock moved narrowly in early trading.
Highlights include hole GL26-87, which was drilled on the western side of the Golden Lake deposit. GL26-87 intersection 93 meters grading 0.89 grams per tonne gold. This intersection extended the strike to a length of 1.9 km.
New hanging wall mineralization also returned long near-surface intercepts from holes GL-83A and GL-83, including 179.1 meters of 0.87 grams per tonne gold and 155 meters of 0.9 grams per tonne gold.
The company’s press release also highlighted new mineralization intercepts at Block 826, where it has drilled eight new holes covering an additional 1,350 metres. Full examinations are expected in the coming weeks.
Mark Trevisiol, CEO of MacFarlane, described both Golden Lake and the 826 area as impressive. “We believe we are just scratching the surface on this property with significant upside to adding significantly more gold mineralization,” he added.
The company said drilling will continue at Golden Lake, with work split between drilling and exploration, and at the Gobi project, where drilling is focused on the combined sample planned for 2027.
Drilling for the upcoming Mineral Resource Estimate (MRE) was completed in June. Despite the delay due to broken lab equipment, McFarlane said she now has all the results and expects to release estimates within two to three weeks.
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