Appleton Summarizes Manalo 2010 Drill Programs, Reports New Artisanal Workings and Appoints New Director
24 Janeiro 2011 - 10:30AM
Marketwired Canada
Appleton Exploration Inc. (TSX VENTURE:AEX) is pleased to provide a summary of
the 2010 drill programs completed on the Manalo Gold Project, Mali, West Africa.
Appleton completed two drill programs in 2010; the 8,071 metre March program at
Dialafara and the 4,372 metre May program at Sirabada and Mansaya. The Company's
ultimate goal in the area is to establish a mineable gold mineral deposit or
deposits.
A total of seven known gold zones occur on the 15,000 hectare Manalo property.
In addition, a totally new area of gold mineralization is being worked by
orpailleurs or local miners, where up to 400 have been searching for and
recovering gold.
Dialafara Summary
Drilling at Dialafara concentrated in two areas; the Northern Segment and the
Southern Segment. A total of 37 reverse circulation drill holes totaling 4,300
metres and 67 air core reverse circulation drill holes totaling 3,771 metres
were completed at Dialafara.
The Northern Segment is a 700 metre long zone of mineralization, centred on a
zone of artisanal workings, and currently open to the northwest. The Northern
Segment appears to consist of multiple sub parallel zones across a 55 metre wide
northwest trend. Drilling to date has returned several intervals between 0.30
grams per tonne (gpt) Au to 2.5 gpt Au over widths from 7 to 16 metres. In the
past, the drilling has identified higher grade intercepts within the Northern
Segment, including 640 gpt Au over 3 metres, 15.64 gpt Au over 16 metres and
35.67 gpt Au over 7 metres.
The Southern Segment is a 900 metre long zone of mineralization containing three
areas of artisanal workings. The Southern Segment consists of a dominant
northwest trending mineralized zone with multiple subsidiary northeast trending
zones. Drilling to date has returned several long, continuously mineralized
intervals within a 450 metre long by 120 metre deep segment. Drilling has
returned several intervals between 0.30 gpt Au to 6.27 gpt Au over widths from 5
to 61 metres, including 1.45 gpt Au over 61 metres, 1.62 gpt Au over 61 metres
and 6.27 gpt Au over 25 metres. In the past, the drilling has identified higher
grade intercepts within the Southern Segment, including 29.07 gpt Au over 6
metres and 9.57 gpt Au over 9 metres.
Table 1. Highlights of 2010 Dialafara Drill Program
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Screen
Metallic
Length Fire Assays Assays Au
Drill Hole Zone From (m) To (m) (m) Au g/t g/t
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Dialafara
MDL-10-074 South 70 84 14 0.2 0.33
----------------------------------------------------------------------------
and 108 116 8 0.32 0.47
----------------------------------------------------------------------------
Dialafara
MDL-10-076 South 33 39 6 0.28 0.54
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and 69 70 1 1.81 5.43
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Dialafara
MDL-10-079 North 114 124 10 6.54 2.32
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including 118 124 6 10.75 3.82
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including 119 120 1 50.8 13.90
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Dialafara
MDL-10-081 North 62 69 7 0.43 0.17
----------------------------------------------------------------------------
Dialafara
MDL-10-082 North 50 57 7 0.65 0.61
----------------------------------------------------------------------------
Dialafara
MDL-10-084 North 97 100 3 0.94 0.88
----------------------------------------------------------------------------
Dialafara
MDL-10-086 South 47 108 61 1.62 0.95
----------------------------------------------------------------------------
including 47 65 18 0.65 0.73
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including 65 77 12 0.17 0.11
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including 77 108 31 2.79 1.43
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including 102 108 6 12.93 4.73
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including 106 107 1 57.3 2.29
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Dialafara
MDL-10-088 South 0 12 12 0.32
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Dialafara
South 93 120 27 1.50
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Dialafara
MDL-10-089 South 0 9 9 0.35
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and 64 77 13 0.97
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and 86 102 16 0.29
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Dialafara
MDL-10-091 South 0 8 8 2.97
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Dialafara
MDL-10-093 South 78 81 3 2.24
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and 99 101 2 2.22
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Dialafara
MDL-10-096 South 96 120 24 0.22
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Dialafara
MDL-10-097 South 50 67 17 0.60
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and 94 97 3 26.88
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including 94 95 1 78.00
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Dialafara
MDL-10-098 South 95 108 13 0.30
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Dialafara
MDL-10-099 South 24 85 61 1.45
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Dialafara
MDL-10-100 South 77 78 1 3.17
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Dialafara
MDL-10-102 South 49 59 10 0.75
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including 49 53 4 1.45
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Dialafara
MDL-10-103 South 86 87 1 2.83
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and 91 92 1 0.47
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Dialafara
MDL-10-104 South 23 24 1 0.32
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and 44 47 3 1.00
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and 58 62 4 0.20
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and 103 105 2 0.79
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Dialafara
MDL-10-108 South 46 47 1 47.40
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and 70 72 2 4.01
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Dialafara
MDL-10-109 South 50 51 1 0.70
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Dialafara
MDL-10-110 South 3 5 2 0.63
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and 82 90 8 0.67
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and 108 118 10 3.68
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Sirabada Summary
Drilling in 2010 at Sirabada consisted of 5 air core reverse circulation drill
holes totaling 485 metres testing the main structure and 34 air core drill holes
totaling 2,103 metres in three drill fences crossing the broad gold soil anomaly
west of the main structure.
The Sirabada main structure is an intensely altered and bleached
northwest-trending clay-quartz zone. The zone is marked by an extensive area of
artisanal mine workings within a broad 2500 metre by 200 to 600 metre
gold-in-soil anomaly. Drilling to date across the main structure has located
only scattered areas of anomalous gold, including a best value of 5.60 gpt Au
over 1 metre.
The subparallel Hilltop structure was identified from aircore drilling
approximately 200 metres west of the main structure. Drill intersections across
the Hilltop zone include: 2.29 gpt Au over 4 metres and 0.88 gpt Au over 10
metres.
Table 2. Highlights of 2010 Hilltop Structure Drill Program
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Drill Hole from (m) to (m) length (m) Au (gpt)
----------------------------------------------------------------------------
MSAC-10-009 0 10 10 0.88
----------------------------------------------------------------------------
MSAC-10-019 55 59 4 2.29
----------------------------------------------------------------------------
MSAC-10-020 6 14 8 0.77
----------------------------------------------------------------------------
and 24 33 9 0.79
----------------------------------------------------------------------------
Mansaya Summary
Drilling at Mansaya consisted of 52 air core reverse circulation drill holes
totaling 1,784 metres in three drill fences. The program was curtailed by the
onset of the rainy season. The drilling tested some of the soil geochemistry
anomalies in the southeastern section of the Mansaya anomaly. Nothing of
significance was noted in the drilling.
New Artisanal Workings on Manalo
There is a new area of artisanal workings developing on the Manalo property. The
workings lie approximately 3.35 kilometres southeast of the Dialafara Zone and
2.8 kilometres west of the Manalo Nord Est Zone. The workings cover an area of
approximately 175 metres by 120 metres where up to 400 local miners have been at
work. Coarse grained gold was being recovered by the locals. This area
represents a completely new area of gold mineralization.
Now that all assay results have been received and in light of the newly
discovered artisanal workings, Appleton's technical team is reviewing the data
in detail to determine the next phase of exploration on the Manalo project.
Appleton is earning a 100% interest in the Manalo project from Delta Exploration
Inc., a wholly-owned subsidiary of Rockgate Capital Corp.
Quality Control and Assurance
The widths and grades reported are drill intercept widths and may not represent
the true width of mineralization. Individual gold assays have not been cut but
high grade samples have been separately reported in the table above. Samples are
reverse circulation cuttings collected using a cyclone in 1 metre intervals that
are riffle split at the drill site. Samples are assayed by fire assay (50 gram
charge). Zones of quartz veining and limonite were submitted for check assays by
the screen metallic method in order identify the presence and significance of
coarse gold in samples. The primary laboratory is ALS Chemex in Bamako, an ISO
17025 certified laboratory. Standard, blank and duplicate samples were inserted
throughout the sample sequence as quality control checks.
Appointment of Director
The Board of Directors is pleased to announce the appointment of Willis W.
Osborne as a director. Mr. Osborne received his B.Sc. in Geology from the
University of Minnesota in 1961 and his M.Sc. in Geology from the University of
British Columbia in 1966. Since beginning his career as an exploration geologist
for Noranda Exploration, he has been active in precious and base metal
exploration for over 30 years and has served on the boards of several junior
exploration companies. Mr. Osborne acted as President and CEO of Great Quest
Metals, a TSX Venture company, until late in 2010. As such, he led the team that
established an historical mineral resource on the copper-gold Taseko property in
British Columbia. In Mali he assembled a group of geologists that acquired
several gold and phosphate concessions in that country. This group also defined
a 43-101 compliant mineral resource on the Kenieba gold concession in western
Mali.
The Board of Directors also announces the resignation of James Walchuck. Jim
departs to concentrate on another company of which he is President and CEO. The
Board wishes to thank Jim for his contributions to Appleton since its inception.
Jim will remain on the Advisory Board where management can still utilize his
African mining and development experience.
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 strategy, exploration programs, 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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