McFarlane Files Mineral Resource Estimate on Juby Gold Project
Executive Summary
- McFarlane Lake Mining filed a NI 43‑101 Technical Report announcing a new Mineral Resource Estimate (MRE) for the Juby Gold Project in Ontario.
- The MRE reports 1.01 Moz indicated and 3.17 Moz inferred gold at average grades of 0.98 g/t and 0.89 g/t, respectively; sensitivity analysis at a $3,750/oz gold price raises resources to 1.20 Moz indicated and 4.23 Moz inferred.
- The company plans immediate exploration drilling, permitting work, and an environmental baseline study to advance the project toward development.
Key Details
- Resource Summary (effective 29‑Sep‑2025):
- Indicated – Open Pit (OP): 30.78 Mt @ 0.94 g/t Au = 0.93 Moz
- Indicated – Underground (UG): 0.96 Mt @ 2.66 g/t Au = 0.08 Moz
- Total Indicated: 31.74 Mt @ 0.98 g/t Au = 1.01 Moz
- Inferred – OP: 105.79 Mt @ 0.83 g/t Au = 2.81 Moz
- Inferred – UG: 3.69 Mt @ 2.86 g/t Au = 0.36 Moz
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Total Inferred: 109.48 Mt @ 0.89 g/t Au = 3.17 Moz
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Gold‑price Sensitivity (cut‑off grades 0.25 g/t OP / 1.85 g/t UG, long‑term price $2,500/oz):
- At $2,250/oz: Indicated 0.903 Moz; Inferred 2.908 Moz
- At $2,500/oz (baseline): Indicated 1.009 Moz; Inferred 3.173 Moz
- At $3,000/oz: Indicated 1.100 Moz; Inferred 3.710 Moz
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At $3,750/oz: Indicated 1.200 Moz; Inferred 4.226 Moz
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Assumptions used in the MRE:
- Processing recovery of >92% (metallurgical testing).
- Mining cost assumptions: USD $11/t processing, $4/t G&A, $2/t tailings fee.
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Dilution factors: 5% for OP, 10% for UG; pit slope angle 47°.
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Technical preparation: Independent estimate prepared by Todd McCracken, P.Geo., BBA E&C Inc., following CIM Definition Standards and NI 43‑101 requirements.
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Permitting & Exploration Outlook:
- Exploration permit application for Juby submitted.
- Environmental baseline study contract to be issued shortly.
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Company will announce a targeted exploration drilling program aimed at expanding both open‑pit and underground resources.
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Forward‑looking statements: The release contains expectations regarding future drilling, permitting, and potential resource upgrades; actual results may differ due to various risk factors outlined in the company’s Annual Information Form (dated 27‑Nov‑2024).
Notable Quotes
“The filing of the MRE Technical Report marks an important milestone for the Juby Gold Project… Investors can now see a clear, verified foundation of significant ounces in indicated and inferred categories.” – Mark Trevisiol, CEO & Chairman
“With the MRE now filed, our focus turns to unlocking the upside that this deposit offers… We expect to announce our strategic exploration plans shortly.” – Mark Trevisiol