Appleton Discovers New Mineralized Zone at Sirabada, Manalo Gold Project
October 26 2010 - 7:30AM
Marketwired Canada
Appleton Exploration Inc. (TSX VENTURE:AEX) is pleased to announce the discovery
of a new mineralized zone (Hilltop Structure) during recent aircore (AC)
drilling at the Sirabada Prospect on the Manalo Gold Project.
Highlights include:
-- 0.88 grams per tonne (g/t) gold over 10 metres in MSAC-10-009.
-- 2.29 g/t gold over the bottom 4 metres in MSAC-10-019.
-- Up-dip extension of mineralization in MSAC-10-020 displays 2 intervals
(Table 1).
-- Drill holes MSAC-10-009 and 019/020 are 220 metres apart along strike.
-- The new trend lies 200 metres west of and parallel to the main Sirabada
structure.
-- Sirabada hosts an extensive hard rock artisanal mine site, covering an
area more than 200 x 400 metres.
Table 1: Highlights from Hilltop Structure
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Drill Hole From (m) To (m) Length (m) Au g/t
----------------------------------------------------------------------------
MSAC-10-009 0 10 10 0.88
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MSAC-10-019 55 59 4 2.29
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MSAC-10-020 6 14 8 0.77
----------------------------------------------------------------------------
and 24 33 9 0.79
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All reported assays are by screen metallics method.
Aircore drilling tested several targets on the Sirabada and Mansaya Prospects.
At Sirabada, 34 drill holes totalling 2103 metres cut 3 fences across the
western side of the extensive soil geochemical anomaly. Five holes also tested
under the main Sirabada structure, returning several low-grade intervals (see
Table 2).
Table 2: Highlights from Sirabada Main Structure
----------------------------------------------------------------------------
Drill Hole From (m) To (m) Length (m) Au g/t
----------------------------------------------------------------------------
MSB-10-022 31 33 2 0.96
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and 57 63 6 0.30
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MSB-10-023 39 45 6 0.73
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and 65 68 3 0.80
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All reported assays are by screen metallics method.
At Mansaya, 52 aircore drill holes totalling 1784 metres were completed in 3
fences across a broad soil geochemical anomaly. Results are pending.
Dialafara Southern Segment
The 2009/10 drill campaign on the Dialafara Southern Segment returned numerous
significant intervals. Recent re-interpretation of those results and the host
structures suggests that mineralization is controlled by a series of
northeast-trending extension veins intersecting a northwest-trending contact
between a coarse sandstone unit and fine mudstone units. These structural
intersections host long intervals of gold mineralization perhaps in an en
echelon and stacked arrangement. Table 3 highlights the previously released
results from the Dialafara Southern Segment.
Table 3: Highlights from Dialafara Southern Segment
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Drill Hole From (m) To (m) Length (m) Au g/t
----------------------------------------------------------------------------
MDL-07-001 71.0 80.0 9.0 (i)9.57
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MDL-07-002 87.0 93.0 6.0 (i)29.07
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MDL-07-011 53.0 66.0 13.0 (i)2.43
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MDL-09-053 39.0 51.0 12.0 0.55
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MDL-09-054 37.0 54.0 17.0 0.95
----------------------------------------------------------------------------
MDL-09-058 14.0 26.0 12.0 0.89
----------------------------------------------------------------------------
MDL-09-068 86.0 112.0 26.0 0.51
----------------------------------------------------------------------------
MDL-09-072 60.0 73.0 13.0 0.44
----------------------------------------------------------------------------
MDL-09-073 68.0 82.0 14.0 2.06
----------------------------------------------------------------------------
and 93.0 124.0 31.0 3.76
----------------------------------------------------------------------------
MDL-10-086 47.0 108.0 61.0 0.95
----------------------------------------------------------------------------
MDL-10-088 93.0 119.0 26.0 1.04
----------------------------------------------------------------------------
MDL-10-089 64.0 76.0 12.0 1.03
----------------------------------------------------------------------------
MDL-10-097 51.0 65.0 14.0 0.68
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MDL-09-099 27.0 80.0 53.0 1.62
----------------------------------------------------------------------------
MDL-10-108 70.0 72.0 2.0 4.01
----------------------------------------------------------------------------
MDL-10-110 108.0 118.0 10.0 3.68
----------------------------------------------------------------------------
(i) Assayed by 30g FA/AA finish
All samples were initially analyzed by 50 gram fire assay. Samples identified in
potentially mineralized zones or than returned anomalous (greater than 0.10 g/t)
gold values were re-assayed by screen metallics analysis. Previous work suggests
that Manalo hosts moderate coarse gold.
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. All 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.
Both Christopher J. Wild, P.Eng. and Paul Cowley, P.Geo., director of Appleton,
are qualified persons for the drilling campaign.
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, 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
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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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