McFarlane Issues NI 43-101 Mineral Resource Estimate on Its Juby Gold Project
Executive Summary
- McFarlane Lake Mining announced a new Mineral Resource Estimate for the Juby Gold project, totaling 3.17 M inferred ounces at 0.89 g/t Au and 1.01 M indicated ounces at 0.98 g/t Au (effective 29 Sept 2025).
- Sensitivity analysis shows resources could rise to 5.42 M ounces at a gold price of US$3,750/oz.
- The company has applied for an exploration permit and plans additional drilling to expand the resource base.
Key Details
- Resource Summary (Table 1)
- Indicated – Open Pit: 30.78 Mt @ 0.94 g/t Au = 0.93 Moz
- Indicated – Underground: 0.96 Mt @ 2.66 g/t Au = 0.08 Moz
- Total Indicated (OP/UG): 31.74 Mt @ 0.98 g/t Au = 1.01 Moz
- Inferred – Open Pit: 105.79 Mt @ 0.83 g/t Au = 2.81 Moz
- Inferred – Underground: 3.69 Mt @ 2.86 g/t Au = 0.36 Moz
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Total Inferred (OP/UG): 109.48 Mt @ 0.89 g/t Au = 3.17 Moz
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Cut‑off Grades & Assumptions
- Open‑pit cut‑off: 0.25 g/t Au (USD $11/t processing, $4/t G&A, $2/t tailings, 5% dilution).
- Underground cut‑off: 1.85 g/t Au (same cost structure, 10% dilution).
- Long‑term gold price used for the base case: US$2,500/oz.
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Metallurgical recovery assumed at 92 %; bulk density based on lithology.
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Gold Price Sensitivity (Table 2)
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At US$3,750/oz → 5.42 M ounces of gold resources identified.
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Technical Review
- Estimate prepared by Todd McCracken, P.Geo., BBA E&C Inc., in accordance with CIM standards and NI‑43‑101.
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Qualified Person review completed; technical report to be filed on SEDAR within 45 days of release.
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Exploration Plans
- Application submitted to the Ontario Ministry of Mines for an exploration permit at Juby.
- Company intends to commence additional drilling and target new zones to increase resource tonnage and grade.
Notable Quotes
“We are delighted by the results of this Mineral Resource Estimate… this now puts McFarlane with some of the top gold resource properties in Ontario.” – Mark Trevisiol, CEO & Chairman, McFarlane Lake Mining.
Materiality Assessment: Material – Positive (significant new resource estimate that materially enhances the company’s asset base and future development potential).