Mcfarlane Finds More Gold - Extends Gold Mineralization on the Purdex Zone at its High Lake Property; Supports Continued Exploration at High Lake

McFarlane Lake Mining Limited
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TORONTO, ON / ACCESSWIRE / April 9, 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 drilling progress made at the Company's High Lake property in Ontario, near the Ontario-Manitoba Border, 40 kilometers west of Kenora, Ontario.

At High Lake Drilling in hole MLHL-23-50 and hole MLHL-24-53 have both intersected gold extending the gold mineralization from its NI-43-101 compliant gold resource area known as the Purdex Zone (see Table 3 below for compliant resources). High grade gold intersections from drilling last year, such as drill hole MLHL 22-06 which intersected 24.96 grams per tonne of gold over 14.9 meters and drill hole MLHL 22-17 which intersected 148.27 gram per tonne over 1.3 meters helped generate a very high compliant gold resource grade (Table 3). This year drilling in hole MLHL-23-50 intersected 13.96 grams per tonne of gold over 1.17 meters while hole MLHL-24-53 intersected 4.04 grams per tonne of gold over 2.25 meters. Figure 1 highlights the area of new gold mineralization. Hole MLHL-23-50 has extended the gold mineralization to the east of the Purdex zone while hole MLHL-25-53 has extended the gold mineralization at depth.

"The results from the recent drilling at High Lake are very encouraging. Having extended the gold mineralization to the east and at depth at Purdex Zone is positive to our overall development of the property. It is management's view that further drilling will help delineate more gold and add to our resource base" says CEO Mark Trevisiol. "Of the five kilometers of strike length within the High Lake property only 500 meters has been explored thus far. This property has numerous historic high grade gold intercepts (Figure 2 below) which have yet to be properly followed up with a concentrated drill program. The potential for this site to add to its resource base is still very much untapped" added Mark Trevisiol.

Within this winter's drilling program, McFarlane has also started to explore parts of the western area of the High Lake property. Figure 2 illustrates some historical intercepts in the western area of the High Lake property. Drilling in the western area of the property is shown on Figure 3. Specifically, McFarlane explored historical prospective areas of the R zone, B zone, A zone, A-D extension and the Porphyry Zones. Assays are still pending on this part of the program. Specific to the Porphyry Zone, historical exploration has indicated a presence of both gold and copper in mineralized samples assayed.

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