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MacDonald Mines Confirms Several Positive Gravity Anomalies Characteristic of an Iron-Oxide-Copper-Gold Mineralization System03.03.2023 | 13:00 Uhr | GlobeNewswire
TORONTO, March 03, 2023 - MacDonald Mines Exploration Ltd. (TSX-V: BMK, OTC: MCDMF) ("MacDonald Mines" or the "Company") is pleased to share the highlights from a broad gravity survey completed over the Alwyn Copper-Gold ("Cu-Au") Trend ("Alwyn") on it's 100% owned SPJ Property ("SPJ") near Sudbury, Ontario. Survey Highlights:
Greg Romain, President & CEO, commented: "these results exhibit the size, shape, and density expected from our original hypothesis, that the SPJ Project has the potential to host IOCG and affiliated mineralization. What is even more exciting is the fact that there appears to be several new opportunities along the MLFZ, with one of the largest anomalies extending outside of the survey area at the southwestern margin. We are now preparing to begin drilling the target identified northwest of the 2022 drillholes at Alwyn." Figure 1. Gravity survey results from ALS GoldSpot's inversion. The 321.9 Ha gravity survey positioned along the 2.5 km Alwyn Cu-Au trend was testing for zones of stronger iron alteration under the Alwyn prospect, in which Cu-Au mineralization could be associated with specular hematite to form IOCG mineralization. The survey was completed with 100 m line spacing at a line azimuth of 45°/225°. The survey extended 3.2 km along the McLaren Lake Fault Zone to cover the high and moderate priority targets proposed by ALS GoldSpot in May 2022. The MLFZ is highly prospective for polymetallic and critical metals mineralization. In addition to Alwyn, along the MLFZ on the SPJ Project the primary targets include the historic Ashigami mine and the Crerar showing, located 4.5 km and 9.5 km southeast of the Alwyn mine, respectively (Figure 2). Exploration along this structure will continue to be a primary focus for MacDonald Mines throughout 2023. The results of the survey will now be integrated into ALS GoldSpot's machine learning technology to generate additional targets for future drilling and exploration beyond what we have already planned. Figure 2. Polymetallic mineralization along the McLaren Lake Fault Zone and location of Alwyn gravity survey. About MacDonald Mines Exploration Ltd. Qualified Person Forward-Looking Statements NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. To learn more about MacDonald Mines, please visit www.macdonaldmines.com For more information, please contact: Greg Romain, President & CEO Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/17f90559-0802-431f-9a85-7d9d76675c56 https://www.globenewswire.com/NewsRoom/AttachmentNg/3c8a1206-ce50-469a-b868-3b689872086f
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