McFarlane Lake Mining Advances Juby Gold Project with Updated Mineral Resource Estimate

McFarlane Lake Mining Limited has initiated a mineral resource estimate (MRE) update at its Juby Gold Project. This move follows the company's July announcement about the acquisition plan for the project. The revised estimate targets a significant increase in contained gold ounces by leveraging a higher gold price range of $2400-$2800 per ounce and including new drilling data previously excluded.

BBA E&C Inc. has been tasked with delivering an updated Juby MRE under National Instrument 43-101 standards. The outcome is anticipated following the project's transaction closure, expected within 90 days upon a $10 million payment to the vendor.

The historical resources of the Juby Project cite 773,000 oz of indicated gold and 1.49 million oz of inferred gold, which are expected to grow substantially with the new drilling data. McFarlane emphasizes the enhanced prospects for a broader range of investment opportunities in this deposit.