Fintech
McFarlane Lake Mining Intersects 24.96 Grams per Tonne of Gold over 14.9 Metres
High-grade gold intercepts continue at the Company’s High Lake Property.
Toronto, Ontario–(Newsfile Corp. – January 9, 2023) – McFarlane Lake Mining Limited (NEO: MLM) (“McFarlane” or the “Company“), a Canadian mineral exploration and development company, is pleased to provide an update on the progress made at the Company’s High Lake property in Ontario, near the Ontario-Manitoba Border. A technical report prepared in accordance with National Instrument 43-101 (“NI 43-101“) with respect to the High Lake and West Hawk Lake properties is available under the Company’s profile on SEDAR at
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The Exploration Program, which started early in November, consists of ground geophysical data collection and its interpretation, accompanied by an 8,000 to 10,000-metre program of diamond drilling. To date, McFarlane has completed 32 holes totalling 7,274 metres and received assays for 11 holes. A key focus is the Purdex Zone at the property, which has only been tested to a depth of 100 metres and has significant potential for adding compliant gold ounces. We expect the drilling campaign to be complete early this year, with assay results released as the program progresses and final results issued later in 2023.
Significant intersections are summarized in Table 1. Collar locations and details of the holes with assays received are summarized in Table 2.
Table 1: Significant Intersections.
Hole ID | From metres |
To metres |
Length metres |
Gold grams/tonne |
MLHL-22-04 | 187.00 | 188.45 | 1.45 | 32.58 |
MLHL-22-06 | 325.56 | 340.46 | 14.90 | 24.96 |
including | 332.47 | 334.76 | 7.99 | 43.22 |
including | 337.31 | 340.46 | 3.15 | 53.87 |
MLHL-22-18 | 151.35 | 152.10 | 0.75 | 2.69 |
MLHL-22-19 | 240.10 | 241.00 | 0.90 | 8.28 |
MLHL-22-29 | 37.00 | 38.00 | 1.00 | 3.22 |
MLHL-22-30 | 85.00 | 86.00 | 1.00 | 20.20 |
Reported as core length as insufficient drilling to ascertain true width.
Table 2: Collar Location Details (NAD83 Zone 15).
Hole ID | Easting (mE) |
Northing (mN) |
Azimuth Deg. |
Dip Deg. |
Length m |
MLHL-22-04 | 350131 | 5509015 | 202.6 | -58.2 | 276.0 |
MLHL-22-06 | 350132 | 5509016 | 202.2 | -74.0 | 350.0 |
MLHL-22-18 | 350088 | 5509029 | 199.1 | -48.0 | 225.0 |
MLHL-22-19 | 350088 | 5509030 | 202.7 | -61.1 | 282.0 |
MLHL-22-29 | 350064 | 5508914 | 204.7 | -45.1 | 87.0 |
MLHL-22-30 | 350065 | 5508915 | 201.2 | -70.5 | 120.0 |
Results from the remaining holes of the drill program will be released when available.
The positive results from the current drilling program follow the previously reported drilling on the Purdex Zone, as outlined below in Table 3. Further details of these results are available in the December 12th news release on the company website at the following link https://mcfarlanelakemining.com/news-dec-12-2022/.
Table 3: Previously Released Intersections.
Hole ID | From metres |
To metres |
Length metres |
Gold grams/tonne |
MLHL-22-01 | 47.90 | 48.50 | 0.60 | 6.66 |
MLHL-22-02 | 65.00 | 66.00 | 1.00 | 10.70 |
MLHL-22-03 | 157.58 | 158.00 | 0.42 | 9.49 |
MLHL-22-16 | 68.0 | 69.0 | 1.00 | 0.74 |
MLHL-22-28 | 25.25 | 35.00 | 9.75 | 9.82 |
including | 29.62 | 35.00 | 5.38 | 15.35 |
including | 29.62 | 30.17 | 0.55 | 117.00 |
Reported as core length as insufficient drilling to ascertain true width.
Like McFarlane’s West Hawk Lake property, the High Lake property has historical gold resources listed in Table 4 below. These resources are non-compliant under National Instrument 43-101. Use the following link for the disclosure statement, which is located on the Company’s website: mcfarlanelakemining.com/historic-resource-disclosure.
Table 4 – Historical Resources
High Lake Historical Resources | |||||
Zone | Tonnes | Grade (g/t) | Troy oz. | Estimated By | Date of Estimate |
Purdex | 227,000 | 9.43 | 68,822 | Jalna Resources | 1989 |
Electrum P | 9,000 | 9.94 | 2,876 | Calnor Resource | 1987 |
Electrum R | 23,000 | 15.77 | 11,661 | Calnor Resource | 1987 |
Electrum W | 11,000 | 5.49 | 1,942 | Calnor Resource | 1987 |
TOTAL | 270,000 | 9.83 | 85,301 |
QA/QC Control Procedures
McFarlane Lake has implemented a Quality Assurance/ Quality Control (QA/QC) program consistent with industry best practices. The drill core is being logged and sampled at a nearby facility with sawn half-core samples, including QA/QC samples, being sent to an accredited lab (Actlabs) in Thunder Bay, Ontario, for processing. The remaining half core has been retained in a locked facility for future examination. Certified reference material (CRM) standards and blanks are inserted every 10 samples into the sample stream. Gold was analyzed by 30-gram fire assay with AA-finish. Samples above 5 grams per tonne of gold were re-assayed for gold with a gravimetric finish, while those above 10 grams per tonne were re-assayed utilizing the pulp metallic method.
Qualified Person
The technical contents of this news release have been reviewed and approved by Robert Kusins, Vice President of Geology of McFarlane. Mr. Kusins is a qualified person, as defined by NI43-101. However, Mr. Kusins is not independent of the Company by virtue of his position.
About McFarlane Lake Mining Limited
McFarlane is a mineral exploration company focused on exploring and developing the High Lake mineral property located immediately east of the Ontario-Manitoba border and the West Hawk Lake mineral property situated immediately west of the Ontario-Manitoba border. In addition, McFarlane holds the McMillan and Mongowin mineral property located 70 km west of Sudbury, which hosts the past-producing McMillan Gold Mine. McFarlane also owns the Michaud/Munro mineral property located 115 km east of Timmins along the “Golden Highway.” McFarlane is a “reporting issuer” under applicable securities legislation in the provinces of British Columbia and Alberta.
Additional information on McFarlane can be found by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, including without limitation; anticipated results of geophysical surveys or drilling programs, estimated timing, geological interpretations and potential mineral recovery processes. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of McFarlane to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in the Filing Statement dated as of January 14, 2022 which is available for view on SEDAR at www.SEDAR.com. Forward-looking statements contained herein are made as of the date of this press release and McFarlane disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
McFarlane’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
Further Information
For further information regarding this press release, please contact:
Roger Emdin, Chief Operating Officer
McFarlane Lake Mining Limited
(705) 562-8520
[email protected]
Craig MacPhail
NATIONAL Capital Markets
(416) 525-5709
[email protected]
Fintech
Fintech Pulse: Milestones, Partnerships, and Transformations in Fintech
The fintech sector continues its relentless drive toward innovation and market dominance. Today’s highlights include a record-breaking customer milestone for Revolut, groundbreaking fintech solutions for women in the EU, open entries for the PayTech Awards 2025, implications of political shifts on funding, and notable recognition at the US FinTech Awards.
Revolut Hits 50 Million Customers: A Global Fintech Giant’s Milestone
Source: Revolut
Revolut, the UK-based financial super app, has achieved a monumental feat: surpassing 50 million customers worldwide. This milestone underscores its position as a leader in the global fintech landscape, furthering its ambition to create the world’s first truly global bank.
Key to this success has been Revolut’s strategy of expanding its offerings, from banking to travel and crypto services, all within a seamless user experience. The company’s recent ventures into emerging markets such as Latin America and Asia demonstrate its intent to bridge financial services gaps while retaining competitive differentiation through technology.
This milestone is not just a triumph for Revolut but a signal of fintech’s capacity to redefine traditional banking. It reinforces the narrative that digital-first strategies, customer-centric innovation, and international scalability can challenge long-standing financial institutions.
PayTech Awards 2025: Celebrating Excellence in Innovation
Source: FinTech Futures
The PayTech Awards 2025 are officially open for entries, promising to spotlight the brightest minds and most innovative projects in the payment technology sector. These awards are a testament to the industry’s commitment to advancing secure, seamless, and scalable payment systems.
This year, the focus is on emerging technologies that redefine how businesses and consumers interact financially. Categories will recognize achievements across multiple domains, including sustainability in payments, AI-driven solutions, and partnerships that push boundaries.
As fintech companies prepare their entries, the awards provide a timely reminder of the sector’s ongoing evolution and the collaborative efforts required to achieve meaningful breakthroughs.
U.S. Politics and the Fintech Sector: A New Era of Funding?
Source: American Banker
The U.S. fintech sector might witness an infusion of optimism as speculation about a second Trump presidency gains momentum. The Trump-era policies of deregulation and venture capital encouragement are remembered as catalysts for unprecedented fintech growth during his first term.
While it remains uncertain how regulatory landscapes will shift, the possibility of a more relaxed approach toward fintech compliance could rejuvenate funding inflows. Investors and startups alike are watching closely, weighing the potential benefits against long-term risks tied to reduced oversight.
A politically charged backdrop often spells volatility, but for fintech, it may also spell opportunity. Preparing to adapt quickly will be crucial for startups and established players in the face of any regulatory pivot.
Klara AI and Unlimit: Addressing the €1.3 Trillion Female Economy
Source: FF News
Klara AI has teamed up with Unlimit to launch a fintech solution aimed at empowering women across the EU. This collaboration targets the €1.3 trillion female economy by addressing the unique financial needs of women entrepreneurs and consumers.
The solution promises to integrate AI-powered tools with streamlined financial management services, enabling users to access credit, manage investments, and scale businesses effectively. By tailoring services to the underserved female demographic, the partnership hopes to drive financial inclusion and support economic growth.
This initiative stands as a blueprint for fintechs exploring niche markets, proving that innovation tailored to specific segments can yield transformative results.
Autire: Accounting Tech of the Year at US FinTech Awards
Source: Business Wire
Autire, a rising star in financial technology, has been crowned ‘Accounting Tech of the Year’ at the US FinTech Awards 2024. The award recognizes Autire’s ability to blend cutting-edge AI with intuitive user interfaces, delivering unparalleled accounting solutions for businesses of all sizes.
Autire’s platform has gained traction for automating complex accounting tasks, ensuring compliance, and delivering actionable insights through real-time analytics. Its emphasis on reducing administrative burdens for SMEs has been particularly impactful, enabling entrepreneurs to focus on growth rather than bookkeeping.
The recognition not only cements Autire’s reputation but also highlights the role of AI-driven accounting solutions in reshaping business operations globally.
Final Thoughts: A Fintech Revolution in Full Swing
From customer milestones to policy-driven opportunities, the fintech ecosystem is in constant evolution. Revolut’s ascent to 50 million users signals growing consumer trust in digital platforms. The PayTech Awards continue to inspire innovation, while political shifts could redefine the regulatory landscape. Initiatives like Klara AI and Unlimit emphasize the power of targeted solutions, and companies like Autire show how niche technologies can achieve broad impact.
The next phase of fintech growth will likely hinge on inclusivity, adaptability, and innovation—pillars that today’s news stories exemplify.
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Fintech
Fintech Pulse: Navigating Expansion, Innovation, and Sustainability
The fintech landscape continues to evolve with groundbreaking developments reshaping the industry’s global footprint. Today’s briefing dives into key events across the fintech ecosystem, emphasizing regulatory advancements, regional expansion, investment inflows, and sustainability partnerships. These narratives offer a glimpse into the sector’s resilience and its relentless pursuit of innovation.
Doo Financial Secures CySEC License: Broadening Horizons
Source: PR Newswire
Doo Financial, a subsidiary of the Doo Group, has achieved a significant milestone by obtaining the Cyprus Securities and Exchange Commission (CySEC) license. This regulatory approval expands the group’s operational capacity across the European Economic Area (EEA), providing clients access to an increasingly diversified portfolio of financial services.
The CySEC license is not just a testament to Doo Financial’s commitment to compliance but also a strategic step towards enhancing its global competitiveness. This move underscores a broader trend among fintech firms to establish regulatory strongholds in regions with robust governance frameworks. Europe’s stringent yet adaptive regulations offer fintech companies a balanced environment to innovate while adhering to consumer protection laws.
The CySEC approval signals a broader ambition: leveraging the EEA as a launchpad for expanding into other regulated markets globally. For the fintech sector, this development highlights the importance of regulatory alignment in building investor confidence and fostering sustainable growth.
Quantoz Payments Ventures into Stablecoins
Source: PR Newswire
Dutch fintech company Quantoz Payments has taken a bold step into the burgeoning stablecoin market by issuing euro and US dollar-denominated stablecoins. Backed by prominent crypto asset firms, this initiative positions Quantoz as a key player in the stablecoin ecosystem, bridging the gap between traditional finance and digital currencies.
Stablecoins have long been hailed as the connective tissue between volatile cryptocurrencies and traditional fiat systems. Quantoz’s approach emphasizes compliance and transparency, addressing major concerns surrounding digital asset adoption. This development reflects a growing consensus within the industry: stablecoins are the linchpin of future financial systems.
Quantoz’s move also highlights the increasing involvement of traditional institutions in digital finance. Backing from established crypto asset firms signals confidence in the stability and utility of these digital tokens. The future may see stablecoins becoming integral to cross-border transactions, remittances, and even central bank digital currency (CBDC) initiatives.
Asia’s Fintech Giants Target Middle Eastern Markets
Source: Fortune
Two leading Asian fintech firms, StashAway and Thunes, are spearheading expansions into the Middle East, a region emerging as a hotspot for fintech innovation. StashAway, renowned for its wealth management solutions, and Thunes, a global payments platform, aim to capitalize on the Middle East’s growing demand for digital financial services.
This expansion is not without challenges. Middle Eastern markets, while lucrative, present regulatory complexities and stiff competition from local players. Yet, these firms bring unique value propositions. StashAway’s data-driven investment strategies and Thunes’ seamless payment networks could fill critical gaps in the region’s financial infrastructure.
This move also underscores the strategic importance of Middle Eastern economies in the global fintech narrative. Countries like the UAE and Saudi Arabia are investing heavily in digital transformation, making them fertile ground for innovative financial solutions. By establishing a presence here, Asian fintech firms are not only diversifying their portfolios but also setting the stage for long-term growth.
Ualá Secures $300 Million in Investment: Latin America’s Fintech Boom
Source: Latin Lawyer
Argentine fintech company Ualá has successfully raised $300 million in its latest funding round, reaffirming Latin America’s status as a global fintech powerhouse. The investment, led by international heavyweights, reflects growing confidence in the region’s financial technology ecosystem.
Ualá’s meteoric rise is emblematic of Latin America’s fintech narrative—a story of innovation fueled by necessity. With large segments of the population underbanked or unbanked, fintech solutions have become a lifeline, offering accessible and affordable financial services.
The $300 million infusion will enable Ualá to expand its product offerings and penetrate new markets, further solidifying its position as a regional leader. For investors, this marks an opportunity to tap into one of the world’s fastest-growing fintech markets, characterized by high adoption rates and a youthful, tech-savvy demographic.
FTS Money Partners with Nano to Advance Fintech Sustainability
Source: The Paypers
FTS Money’s partnership with Nano sets a new benchmark for sustainability in fintech. By integrating Nano’s technology, FTS aims to reduce its carbon footprint and drive environmentally conscious financial practices. This collaboration highlights a critical trend: the convergence of financial innovation and environmental responsibility.
Sustainability has become a cornerstone for fintech companies seeking to align with global ESG (environmental, social, and governance) goals. Partnerships like this not only enhance operational efficiency but also resonate with a growing segment of environmentally conscious consumers.
The fintech sector’s focus on sustainability reflects a broader shift in corporate priorities. Companies are increasingly recognizing that profitability and environmental stewardship are not mutually exclusive. By embedding sustainability into their operations, fintech firms like FTS Money and Nano are paving the way for a more responsible and resilient industry.
Conclusion: A Tapestry of Transformation
Today’s developments paint a vivid picture of an industry in flux—embracing regulation, exploring new markets, innovating with stablecoins, and championing sustainability. Each story underscores a central theme: fintech’s ability to adapt and thrive amid changing landscapes.
As fintech firms continue to evolve, their success will hinge on balancing innovation with responsibility. Whether through regulatory compliance, strategic expansions, or sustainable practices, the industry is charting a path toward a future that is inclusive, resilient, and transformative.
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Fintech
Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator
Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.
GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.
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