# McFarlane Increases Gold Mineral Resources on Its Juby Gold Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/mcfarlane-increases-gold-mineral-resources-on-its-juby-gold-project--1b5addf1-9755-432d-87cb-a420c14cd2fe Original source: https://www.globenewswire.com/news-release/2026/08/18/3346696/0/en/mcfarlane-increases-gold-mineral-resources-on-its-juby-gold-project.html Publisher: globenewswire Original announcement: 2026-08-18T00:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: McFarlane Lake Mining Incorporated - Ticker: MLM - Exchange: Unavailable - Region: Ontario - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-12 02:37:18 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary McFarlane Lake Mining has announced an updated Mineral Resource Estimate for its Juby Gold project, reporting a 59% increase in Inferred resources and a 13% increase in Indicated resources. The growth is driven by 13,000m of new drilling, the discovery of the high-grade 826 Zone, and a higher long-term gold price assumption of US$3,600/oz. Reasoning: The update shows substantial growth in total contained gold ounces, driven by both increased tonnage and a significantly higher long-term gold price assumption \($3,600 vs $2,500\). - Positive factor: Significant tonnage growth in Inferred category \(59%\) - Positive factor: New higher-grade gold resource established at 826 Zone - Positive factor: Indicated resource tonnage increased by 13% - Positive factor: Expansion of mineralized footprint into previously undefined southwestern area - Negative factor: Average grade declined slightly in both Indicated and Inferred categories due to higher gold price assumption and increased tonnage Facts used in scoring: 8 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: Inferred resource tonnage increased by 59% compared to the previous estimate. Evidence · text > 59% Increase in Inferred Resources **Step-Out Extension** Polarity: positive Story-specific tag Definition: Mineralization extended beyond the previously known limit. Why it applies: The 826 Zone represents a new gold resource in a previously undefined area. Evidence · text > opens up the large southwestern area of our property where previously no gold resources were defined **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., of BBA E&C Inc. is named as the independent Qualified Person. Evidence · text > The MRE was independently prepared by Todd McCracken, P. Geo., of BBA E&C Inc. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The release states the MRE was prepared in accordance with NI 43-101 standards. Evidence · text > prepared in accordance with National Instrument 43-101 standards ## Extracted facts Stored fact records: 8. Some facts used in scoring do not have a stored record. ## Resource Estimates (8) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/mcfarlane-increases-gold-mineral-resources-on-its-juby-gold-project--1b5addf1-9755-432d-87cb-a420c14cd2fe#fact-resource-facts-0) Juby Gold project · gold #### Identity - Project: Juby Gold project - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, Mark Trevisiol - Resource group id: resource:069422723196b6fb9f7e - Deposit or zone: Juby Gold project - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 36470000 - Grade: 0.93 - Grade Unit: g/t - Contained Metal: 1.09 - Contained Unit: moz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-18T00:00:00.000Z Reasoning: Standard indicated resource component for the open pit portion. Evidence · table > 0.93 Context: 36.47 #### 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-extractions.minestarters.com/news/mcfarlane-increases-gold-mineral-resources-on-its-juby-gold-project--1b5addf1-9755-432d-87cb-a420c14cd2fe#fact-resource-facts-1) Juby Gold project · gold #### Identity - Project: Juby Gold project - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, Mark Trevisiol - Resource group id: resource:578aa179305cba079677 - Deposit or zone: Juby Gold project - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 690000 - Grade: 2.36 - Grade Unit: g/t - Contained Metal: 0.05 - Contained Unit: moz - Cutoff Grade: 1.6 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-18T00:00:00.000Z Reasoning: High-grade underground resource component. - Positive factor: High grade \(2.36 g/t\) for underground component Evidence · table > 2.36 Context: 0.69 #### 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-extractions.minestarters.com/news/mcfarlane-increases-gold-mineral-resources-on-its-juby-gold-project--1b5addf1-9755-432d-87cb-a420c14cd2fe#fact-resource-facts-2) Juby Gold project · gold #### Identity - Project: Juby Gold project - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, Mark Trevisiol - Resource group id: resource:53745d0a65f4cd71fadf - Deposit or zone: Juby Gold project - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 37170000 - Grade: 0.95 - Grade Unit: g/t - Contained Metal: 1.14 - Contained Unit: moz #### Prior Estimate - Resource Date: 2026-08-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-18T00:00:00.000Z Reasoning: Total indicated resource combining OP and UG. - Positive factor: 13% increase in indicated resources Evidence · table > 0.95 Context: 37.17 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-extractions.minestarters.com/news/mcfarlane-increases-gold-mineral-resources-on-its-juby-gold-project--1b5addf1-9755-432d-87cb-a420c14cd2fe#fact-resource-facts-3) Juby Gold project · gold #### Identity - Project: Juby Gold project - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, Mark Trevisiol - Resource group id: resource:16b1bf754873cc40c65a - Deposit or zone: Juby Gold project - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 175810000 - Grade: 0.83 - Grade Unit: g/t - Contained Metal: 4.69 - Contained Unit: moz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-18T00:00:00.000Z Reasoning: Large inferred open pit component. - Positive factor: Significant tonnage growth Evidence · table > 0.83 Context: 175.81 #### 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-extractions.minestarters.com/news/mcfarlane-increases-gold-mineral-resources-on-its-juby-gold-project--1b5addf1-9755-432d-87cb-a420c14cd2fe#fact-resource-facts-4) Juby Gold project · gold #### Identity - Project: Juby Gold project - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, Mark Trevisiol - Resource group id: resource:d364422b8f288e61197e - Deposit or zone: Juby Gold project - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4860000 - Grade: 2.36 - Grade Unit: g/t - Contained Metal: 0.37 - Contained Unit: moz - Cutoff Grade: 1.6 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-18T00:00:00.000Z Reasoning: Inferred underground component. - Positive factor: High grade \(2.36 g/t\) for underground component Evidence · table > 2.36 Context: 4.86 #### 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-extractions.minestarters.com/news/mcfarlane-increases-gold-mineral-resources-on-its-juby-gold-project--1b5addf1-9755-432d-87cb-a420c14cd2fe#fact-resource-facts-5) Juby Gold project · gold #### Identity - Project: Juby Gold project - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd McCracken, Mark Trevisiol - Resource group id: resource:ceea2a224a089489377f - Deposit or zone: Juby Gold project - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 180670000 - Grade: 0.87 - Grade Unit: g/t - Contained Metal: 5.06 - Contained Unit: moz #### Prior Estimate - Resource Date: 2026-08-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-18T00:00:00.000Z Reasoning: Total inferred resource combining OP and UG. - Positive factor: 59% increase in inferred resources Evidence · table > 0.87 Context: 180.67 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-extractions.minestarters.com/news/mcfarlane-increases-gold-mineral-resources-on-its-juby-gold-project--1b5addf1-9755-432d-87cb-a420c14cd2fe#fact-resource-facts-6) Juby Gold project · gold #### Identity - Project: Juby Gold project - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: MLM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:b2f4afbe861b778060b1 - Deposit or zone: 826 Zone - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1820000 - Grade: 1.29 - Grade Unit: g/t - Cutoff Grade: 0.25 - Cutoff Unit: g/t gold #### Prior Estimate - Resource Date: 2026-08-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-18T00:00:00.000Z Reasoning: Specific new resource component at the 826 Zone. - Positive factor: New higher-grade gold resource established Evidence · text > 1.82 Mt at 1.29 g/t at a 0.25g/t gold cut-off #### 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 **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 ### Fact 8 [Link to this fact](https://atlas-extractions.minestarters.com/news/mcfarlane-increases-gold-mineral-resources-on-its-juby-gold-project--1b5addf1-9755-432d-87cb-a420c14cd2fe#fact-resource-facts-7) Juby Gold project Historical result Needs review: historical\_restatement #### Identity - Project: Juby Gold project - Ticker: MLM #### Resource scope - Estimate type: resource - Effective date: 2025-09-29T00:00:00.000Z - Resource group id: resource:269fb4d6e7e6abd5b395 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-09-29T00:00:00.000Z #### Dates - Event date: 2026-08-18T00:00:00.000Z Reasoning: Explicit resource disclosure recovered from source prose. Evidence · text > previous MRE \(effective date September 29, 2025\) #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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.