Appleton Exploration Inc. Announces Next Phase of Drilling at Manalo Gold Project in Mali
October 19, 2009 - Vancouver, British Columbia. Appleton Exploration Inc. (AEX - TSX.V) has begun final preparations for the next phase of drilling at the Mali Gold Project in the Republic of Mali, West Africa. The rainy season in Mali has been longer than normal, delaying start-up of the program. Drilling is scheduled to commence within the first two weeks of November, weather permitting.
Initial reverse circulation drilling will concentrate in the Northern Segment of the Dialafara Zone in the area where high grade gold intercepts were encountered in 2008 and spring 2009 drill programs. The Company also plans to drill other targets on the property.
Appleton currently has working capital of approximately $1.6 million, sufficient funds to carry out this drill program and at least one follow up drill program.
Appleton is earning a 100% interest in the Manalo Gold Project, subject to a 2% Net Smelter Return (NSR) Royalty, from Delta Exploration Inc. ("Delta") a wholly-owned subsidiary of Rockgate Capital Corp. (RGT - TSX.V).
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"
R.Tim Henneberry, P.Geo.
President and CEO
For further information, please contact:
For Investor Relations Information contact:
Tim Henneberry: (604) 694-0741
Contact Financial Corp.
604.689.7422 Toll Free 1.877.689.7411
R. Tim Henneberry, P.Geo., President and 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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.