Appleton Commences Drilling on Sirabada and Mansaya Targets
09 June 2010 - 10:30PM
Marketwired Canada
Appleton Exploration Inc. (TSX VENTURE:AEX) has commenced a new drilling program
at its Manalo Gold Project in the Republic of Mali, West Africa. This program
will focus on the Sirabada and Mansaya gold targets and will be Appleton's first
drilling pass on these targets.
The Sirabada target is a 1500 metre long by 200 to 500 metre wide gold-in-soil
anomaly. The geochemical anomaly appears to represent multiple northwest
trending linears associated with extensive artisanal workings. The strongest set
of workings, which is currently 500 metres long and 50 metres wide, is
associated with intense white clay-quartz alteration. This large target has
received 2,335 metres of reverse circulation drilling in 21 holes by the
previous operator, however, Appleton geologists believe that only two of those
holes were properly oriented to test mineralization. The best intercepts from
previous drilling were from MSB-08-013 with 0.49 gpt Au across 14 metres, 0.50
gpt Au across 8 metres and 0.54 gpt Au across 7 metres.
The Mansaya target consists of two gold-in-soil anomalous areas. The southern
anomaly is 1200 metres long by 300 to 450 metres wide and has received eight
reverse circulation holes totalling 774 metres by the previous operator. Hole
MMS-08-018 returned 10.71 gpt Au over 3 metres. The northern anomaly is 1600
metre long by 200 metre wide. A total of 905 metres of reverse circulation were
completed in 9 holes in this area. Holes MMS-08-007 through MMS-08-012
intersected a mineralized trend with the best results from MMS-08-008 with 0.80
gpt Au across 20 metres.
The drilling program will comprise approximately 2000 metres in the Sirabada
target and 2700 metres in the Mansaya target. The Sirabada program will consist
of 4 drill fences of air core drilling across the full width of the zone. The
Mansaya program will consist of 6 drill fences of air core drilling focused on
the southern gold anomaly.
About Mali
Mali is the fastest growing gold producing country in Africa. Production in 2007
amounted to 2 million ounces of gold making Mali Africa's third-largest gold
producer after South Africa and Ghana. AngloGold Ashanti Limited, one of the
largest gold mining companies in the world, has interests in three operating
mines in Mali: Sadiola, Yatela and Morila.
On Behalf of the Board of Directors,
R.Tim Henneberry, P.Geo., President and CEO
Paul Cowley, P.Geo., Director of Appleton Exploration Inc., is the Qualified
Person as defined in National Instrument 43-101, who has reviewed and approved
the technical content of this news release.
Forward-Looking Statements
This press release contains forward-looking statements. All statements, other
than statements of historical fact, constitute "forward-looking statements" and
include any information that addresses activities, events or developments that
the Company believes, expects or anticipates will or may occur in the future
including the Company's planned drilling programs and strategy, plans or future
financial or operating performance and other statements that express
management's expectations or estimates of future performance.
Forward-looking statements are generally identifiable by the use of the words
"may", "will", "should", "continue", "expect", "anticipate", "estimate",
"believe", "intend", "plan" or "project" or the negative of these words or other
variations on these words or comparable terminology. All such forward-looking
information and statements are based on certain assumptions and analyses made by
the Company's management in light of their experience and perception of
historical trends, current conditions and expected future developments, as well
as other factors management believes are appropriate in the circumstances. These
statements, however, are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance
or achievements of the Company to be materially different from those expressed,
implied by or projected in the forward-looking information or statements.
Important factors that could cause actual results to differ from these
forward-looking statements include but are not limited to: risks related to the
exploration and potential development of the Company's projects, risks related
to international operations, the actual results of current exploration
activities, conclusions of economic evaluations, changes in project parameters
as plans continue to be refined, future prices of gold, as well as those factors
discussed in the sections relating to risk factors of the Company set out in the
Company's MD&A filed on SEDAR.
There can be no assurance that any 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 should not place any
undue reliance on forward-looking information or statements. Except as required
by law, the Company does not intend to revise or update these forward-looking
statements after the date of this document or to revise them to reflect the
occurrence of future unanticipated events.
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