# McFarlane Files Updated Mineral Resource Estimate on Juby Gold Project Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/mcfarlane-files-updated-mineral-resource-estimate-on-juby-gold-project--78456ee1-f610-46c3-986c-73e686851c11 Original source: https://orestocks.com/company/MLM.CN/press-releases/4510678904679307 Publisher: orestocks Original announcement: 2026-10-02T22:37:38.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-02T22:47:20.814Z Atlas analysis updated: 2026-10-02T22:47:20.814Z - Company: McFarlane Lake Mining Limited - Ticker: MLM.CN - Exchange: Unavailable - Region: Ontario, Canada - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-10-02 22:47:21 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary McFarlane Lake Mining has filed an updated NI 43-101 Mineral Resource Estimate for the Juby Gold Project, reporting 1.07 million indicated ounces and 5.09 million inferred ounces of gold. The update reflects a 61% increase in inferred resources compared to the September 2025 technical report, despite a minor reclassification of indicated resources due to claim boundary adjustments. Reasoning: The update shows substantial growth in inferred resources \(61%\) and maintains a solid indicated base, providing significant scale expansion for the Juby Gold Project. - Positive factor: Significant tonnage and ounce growth in inferred category - Positive factor: NI 43-101 compliant report prepared by independent QP - Positive factor: Strong gold price assumption of US$3,600/oz used for cut-off - Negative factor: Minor decrease in indicated resource ounces due to claim boundary correction Facts used in scoring: 5 ## Classification and evidence No classification tags are available. ## Extracted facts Stored fact records: 5. Some facts used in scoring do not have a stored record. ## Resource Estimates (5) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mcfarlane-files-updated-mineral-resource-estimate-on-juby-gold-project--78456ee1-f610-46c3-986c-73e686851c11#fact-resource-facts-0) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM.CN #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken - Resource group id: resource:c2de0ee666f8cfbd5cd6 - Deposit or zone: Juby - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 33710000 - Grade: 0.91 - Grade Unit: g/t - Contained Metal: 0.99 - Contained Unit: moz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: Indicated resource component within the open pit shell. - Positive factor: Solid indicated resource base Evidence · table > 0.91 Context: 33.71 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mcfarlane-files-updated-mineral-resource-estimate-on-juby-gold-project--78456ee1-f610-46c3-986c-73e686851c11#fact-resource-facts-1) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM.CN #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken - Resource group id: resource:0769a2f38d50c742d430 - Deposit or zone: Juby - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 2540000 - Grade: 0.97 - Grade Unit: g/t - Contained Metal: 0.08 - Contained Unit: moz - Cutoff Grade: 1.6 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: Indicated resource component within the underground shapes. Evidence · table > 0.97 Context: 2.54 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mcfarlane-files-updated-mineral-resource-estimate-on-juby-gold-project--78456ee1-f610-46c3-986c-73e686851c11#fact-resource-facts-2) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM.CN #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken - Resource group id: resource:1cd700b629fc87cb5070 - Deposit or zone: Juby - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 176610000 - Grade: 0.82 - Grade Unit: g/t - Contained Metal: 4.67 - Contained Unit: moz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: Large inferred resource expansion in the open pit shell. - Positive factor: Significant tonnage and ounce growth Evidence · table > 0.82 Context: 176.61 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mcfarlane-files-updated-mineral-resource-estimate-on-juby-gold-project--78456ee1-f610-46c3-986c-73e686851c11#fact-resource-facts-3) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM.CN #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken - Resource group id: resource:631aa3a4f7b9a88575d9 - Deposit or zone: Juby - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4620000 - Grade: 2.35 - Grade Unit: g/t - Contained Metal: 0.35 - Contained Unit: moz - Cutoff Grade: 1.6 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: Inferred resource component within the underground shapes. Evidence · table > 2.35 Context: 4.62 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mcfarlane-files-updated-mineral-resource-estimate-on-juby-gold-project--78456ee1-f610-46c3-986c-73e686851c11#fact-resource-facts-4) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM.CN #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken - Resource group id: resource:7cce5297e5588ca24bba - Deposit or zone: 826 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1820000 - Grade: 1.29 - Grade Unit: g/t - Contained Metal: 0.08 - Contained Unit: moz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: Inferred resource at the 826 zone. Evidence · table > 1.29 Context: 1.82 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.