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Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8% Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8%
Drill Results Routine +

McFarlane Intersects 155 metres of 0.59 g/t Gold

Pre-revenue gold explorer advances Juby project with consistent drill results and strategic capital, but faces looming debt maturity and going-concern uncertainty.

By The Northwire Desk — AI Analysis Jun 22, 2026 · 07:00 MLM · 0.23 MCFARLANE LAKE MINING LIMITED
Executive Summary
  • McFarlane Lake Mining reported diamond drilling results from its 100%-owned Juby Gold Project in Ontario, focusing on the Golden Lake Deposit.
  • Key intercepts include Hole GL26-84 (155 m @ 0.59 g/t Au, including 75.8 m @ 0.70 g/t Au), Hole GL26-85 (92.7 m @ 0.64 g/t Au), and Hole GL26-77B (47.0 m @ 0.70 g/t Au).
  • Results confirm the westward expansion and vertical extension of the mineralization envelope beyond the current resource pit shell.
  • The company is updating its NI 43-101 Mineral Resource Estimate (MRE) across Golden Lake, Juby, and the 826 Zone, with a new release expected within 3-4 weeks following one additional drill hole.
  • Follow-up drilling has resumed at the 826 Zone, and a 50,000-tonne bulk sample is targeted for 2027.
  • Preliminary Economic Assessment (PEA) is planned for later in 2026 to evaluate improved mining economics from lower waste-to-ore ratios.
Material Impact
  • The drill results are consistent with the broader exploration narrative established over the past several months, demonstrating continuous, broad zones of low-to-moderate grade gold mineralization.
  • The news does not introduce a fundamentally new discovery or alter the project's economic profile; rather, it provides data to support the upcoming MRE and PEA.
  • The stock has already rallied approximately 60% from late May to mid-June, pricing in the exploration upside and the recent $6.75M private placement. This update is a standard progression of the drilling program.
  • The slight delay in the MRE release (pushed to July) is a minor timing miss but does not impact the underlying geological continuity or management's stated milestones.
MLM · Price
Company Overview
  • McFarlane Lake Mining is a pre-revenue gold exploration and development company focused on its flagship Juby Gold Project in Ontario.
  • The project encompasses the Golden Lake, Juby, and 826 zones, with a current NI 43-101 resource of 1.01 million ounces (Indicated) and 3.17 million ounces (Inferred) at average grades around 0.9 g/t Au.
  • The company acquired the Juby project in October 2025 for approximately $29 million (cash and equity) and has since monetized non-core assets (High Lake and West Hawk Lake) to fund exploration and debt repayment.
  • Strategic partnerships with Indigenous drilling contractors and ongoing environmental baseline studies are positioning the project for future permitting and bulk sampling.
Read the original news release →

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McFarlane Lake Mining Ltd.

Drill Results