McFarlane Lake Mining Plans 50,000-Meter Drilling Campaign For Juby Gold Project

11:20 AM EDT, 10/19/2026 (MT Newswires) -- McFarlane Lake Mining (MLM.CN) plans to complete 50,000 meters of drilling at its Juby Gold Project in Ontario over the next 12 to 15 months, the company said on Monday. Three drills are expected to be fully deployed before Nov. 1, a statement added. The drill program will expand known gold mineralization and test new discovery targets. A recently filed mineral resource estimate reported 1.07-million ounces of indicated gold resources at 0.96 grams per tonne (g/t) in 34.68 million tonnes, and 5.09 million ounces of inferred gold resources at 0.87 g/t in 183.05 million tonnes, the company said. "Over the past year, we have established a larger resource foundation at Juby, secured funding for our next major drilling campaign and built the team to execute it," said McFarlane Chief Executive Officer Mark Trevisiol. "Phase 2 gives us the capacity to expand the known deposits while systematically testing the broader property for new discoveries. Our objective is to demonstrate more of Juby's scale and geological potential through drilling, while proving the economics of this prolific deposit through a scoping study and advancing the environmental and technical work needed for its next stage." McFarlane Lake shares were last seen down CA$0.01 at CA$0.47 on the Canadian Securities Exchange. Price: 0.47, Change: -0.01, Percent Change: -2.08