# McFarlane Lake Mining Files Updated Mineral Resource Estimate on Juby Gold Project Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/mcfarlane-lake-mining-files-updated-mineral-resource-estimate-on-juby-gold-proje--56ea6a69-2d23-48f8-9c28-9fcd7c2751ed Original source: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/3102-cse/mlm/212234-mcfarlane-files-updated-mineral-resource-estimate-on-juby-gold-project.html Publisher: jmn Original announcement: 2026-10-02T00:37:03.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-03T00:20:27.469Z Atlas analysis updated: 2026-10-03T00:20:27.469Z - Company: McFarlane Lake Mining Limited - Ticker: MLM - Exchange: CSE - Region: Ontario, Canada - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-10-03 00:20:28 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary McFarlane Lake Mining has filed an updated NI 43-101 Mineral Resource Estimate for the Juby Gold Project, reporting a total of 1.07 million indicated ounces and 5.09 million inferred ounces of gold. The update reflects a 61% increase in inferred resources and a 6% increase in indicated resources compared to the previous technical report. Reasoning: The update shows substantial growth in the inferred resource category \(61%\) and maintains a solid indicated resource, significantly increasing the total gold ounces at the Juby project. - Positive factor: Significant tonnage growth in inferred resources \(61%\) - Positive factor: Indicated resource maintained with slight growth \(6%\) - Positive factor: High metallurgical recovery of 92% stated - Positive factor: NI 43-101 compliant with independent QP sign-off - Positive factor: Large-scale resource scale \(6+ Moz total\) - Negative factor: Minor reclassification adjustment \(70kt Indicated decrease\) due to claim boundary correction Facts used in scoring: 7 ## Classification and evidence **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The technical report was prepared in accordance with NI 43-101 standards. Evidence · text > prepared in accordance with NI 43-101 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: Inferred resources increased by 61% compared to the previous technical report. Evidence · text > represents a 61% increase in inferred resources **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: Todd McCracken, P.Geo. is named as the independent Qualified Person. Evidence · text > prepared by Todd McCracken, P.Geo. ## Extracted facts Stored fact records: 7. Some facts used in scoring do not have a stored record. ## Resource Estimates (7) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mcfarlane-lake-mining-files-updated-mineral-resource-estimate-on-juby-gold-proje--56ea6a69-2d23-48f8-9c28-9fcd7c2751ed#fact-resource-facts-0) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, P.Geo. - Resource group id: resource:0fa7a35d9d14db4b608a - Deposit or zone: Juby - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 34680000 - Grade: 0.96 - Grade Unit: g/t - Contained Metal: 1.07 - Contained Unit: moz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-15 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: Indicated resource shows stable scale and grade. - Positive factor: Solid indicated resource scale Evidence · table > 34.68 Context: 0.96 #### 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-lake-mining-files-updated-mineral-resource-estimate-on-juby-gold-proje--56ea6a69-2d23-48f8-9c28-9fcd7c2751ed#fact-resource-facts-1) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, P.Geo. - Resource group id: resource:cdb5279ff720f6f09aa7 - Deposit or zone: Juby - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 183050000 - Grade: 0.87 - Grade Unit: g/t - Contained Metal: 5.09 - Contained Unit: moz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-15 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: Significant expansion of the inferred resource footprint. - Positive factor: 61% increase in inferred resource tonnage Evidence · table > 183.05 Context: 0.87 #### 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mcfarlane-lake-mining-files-updated-mineral-resource-estimate-on-juby-gold-proje--56ea6a69-2d23-48f8-9c28-9fcd7c2751ed#fact-resource-facts-2) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, P.Geo. - 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 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: Standard indicated open pit component. 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-lake-mining-files-updated-mineral-resource-estimate-on-juby-gold-proje--56ea6a69-2d23-48f8-9c28-9fcd7c2751ed#fact-resource-facts-3) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, P.Geo. - Resource group id: resource:c82e8d8c5fc9a94a1d26 - Deposit or zone: Juby - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 970000 - Grade: 2.54 - 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 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: Strong grade for underground resource. - Positive factor: High grade underground component Evidence · table > 2.54 Context: 0.97 #### 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-lake-mining-files-updated-mineral-resource-estimate-on-juby-gold-proje--56ea6a69-2d23-48f8-9c28-9fcd7c2751ed#fact-resource-facts-4) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, P.Geo. - 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 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: Large scale inferred open pit resource. 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-lake-mining-files-updated-mineral-resource-estimate-on-juby-gold-proje--56ea6a69-2d23-48f8-9c28-9fcd7c2751ed#fact-resource-facts-5) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, P.Geo. - 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 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: High grade inferred underground component. 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-lake-mining-files-updated-mineral-resource-estimate-on-juby-gold-proje--56ea6a69-2d23-48f8-9c28-9fcd7c2751ed#fact-resource-facts-6) Juby Gold Project · gold #### Identity - Project: Juby Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, P.Geo. - 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 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-02T00:00:00.000Z Reasoning: Inferred resource in 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.