Gold Exploration Co. Uses AI To Identify Drill Targets

McFarlane Lake Mining Ltd. (MLM:NEO; MLMLF:OTCQB) released a press release announcing the commission of a full geological compilation. According to the company, this compilation will include historical data, geological maps, geophysical survey data, and current information from the company’s drilling on the High Lake property for the purpose of generating drill targets with the company’s artificial intelligence program.

McFarlane reports that it has contracted Orix Geoscience and that it hopes to use artificial intelligence to prioritize drilling locations. According to Roger Emdin, the COO of McFarlane Lake, “At High Lake’s Purdex zone, we have identified a high-grade gold resource with significant potential for expansion.

By compiling the historical exploration results with our recent drilling and geophysical results into one comprehensive data set, we will be able to optimize our future exploration efforts. With recent breakthroughs of applying AI to mineral exploration, we expect that we will be able to further advance this attractive property by identifying additional mineralization targets.”

International Opportunities

According to an analysis from Stockhead, while the North American market for gold seems to be cooling off, there may be other opportunities on the international stage.

In addition to significant developments in Australia, where it predicts a massive delivery from gold producers, buyers on the Chinese market are “paying as much as US$100 per ounce or more for their bullion with concerns the Yuan is in trouble playing on investors' minds.”

Across this year, central banks in China have enthusiastically bought gold, and that trend looks to continue, reports Stockhead.

A Steady Record

In June of 2023, Technical Analyst Clive Maund rated Mcfarlane as a “Strong Speculative Buy” for potential investors, saying, “since Mcfarlane Lake is still within its base pattern and not overbought it is clear that those who are holding should stay long for a breakout into a new bullmarket.”

At the beginning of the year, Maund also rated the company positively as “an immediate speculative buy as close to the open as possible” on account of the company’s strong support level and its drill results from the High Lake property.

McFarlane has a number of catalysts to report, according to its investor presentation, including its pursuit of a permitting application for sampling at the company’s High Lake property, and its plan to target another 10,000 meters east of the Purdex Zone.

Ownership and Share Structure

Reuters provided a breakdown of the company’s ownership and share structure, where management and insiders own 33.97% of the company. According to Reuters, President and CEO Mark Trevisiol owns 15.20% of the company with 12.26 million shares, director Perry Nicholas Dellelce owns 11.35% of the company with 9.15 million shares, COO and director Roger John Emdin owns 3.93% of the company with 3.17 million shares, director Dario Zulich owns 3.10% of the company with 2.50 million shares, director Fergus P. Kerr owns 0.37% of the company with 0.30 million shares, and CFO Charles James Lilly owns 0.02% of the company with 0.01 million shares.

According to Reuters, in terms of institutions, Canadian Star Minerals Ltd. owns 16.03% of the company with 12.93 million shares.

Reuters reports that there are 80.65 million shares outstanding, with 40.33 million free float traded shares. According to Reuters, the company has a market cap of CA$3.23 million, and trades in the 52-week period between CA$0.03 and CA$0.14.

Important Disclosures:

1. McFarlane Lake Mining Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. 
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of McFarlane Lake Mining Ltd.
3. Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
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