Hole
ID |
Target |
Interval
ID |
From
(m) |
To
(m) |
Interval
(m) |
Interval
(ft) |
Copper
(%) |
Gold
(g/t) |
Silver
(g/t) |
07SWC-181 |
Ridgetop |
Unnamed |
14.7 |
27.5 |
12.9 |
42.3 |
0.58 |
0.86 |
5.8 |
|
|
Including |
23.1 |
27.5 |
4.4 |
14.4 |
1.08 |
2.30 |
14.7 |
07SWC-182 |
Ridgetop |
Unnamed |
12.2 |
25.6 |
13.4 |
44.0 |
1.29 |
0.03 |
1.4 |
07SWC-183 |
Ridgetop |
Unnamed |
3.1 |
6.0 |
2.9 |
9.5 |
3.62 |
0.05 |
1.9 |
|
and |
Unnamed |
30.1 |
35.8 |
5.7 |
18.7 |
2.59 |
0.08 |
2.4 |
07SWC-187 |
Area
118 |
Area
118M |
195.5 |
201.1 |
5.6 |
18.4 |
1.04 |
0.47 |
3.4 |
07SWC-188 |
Area
118 |
Unnamed |
249.4 |
255.2 |
5.8 |
19.0 |
2.09 |
1.47 |
20.0 |
07SWC-191 |
Area
118 |
Area
118M |
199.4 |
211.4 |
12.0 |
39.4 |
0.93 |
0.30 |
3.4 |
|
|
Including |
199.4 |
203.8 |
4.4 |
14.4 |
1.37 |
0.45 |
5.6 |
?Results from
both of our initial exploration targets at the Minto Mine are proving very
encouraging,? said Stephen Quin
President and CEO of Sherwood. ?At
Ridgetop, shallow, wide-spaced exploration holes confirmed our geological
assessment of potential for significant zones of near surface copper
mineralization, with potential for very low strip ratios. In addition, at Area 118, thirteen very
wide spaced reconnaissance drill holes have resulted in the discovery of a
potentially extensive new zone of mineralization,? he said. ?This is early
days for both targets, which remain wide open to expansion. Drills will return to these areas once
we have all the assays and preliminary interpretations completed. In the meantime we are testing some of
our other priority targets,? he added.
Phase 2 ? 2007 Drill
Program
The 2007 Phase 2 drill program is proceeding well, with 25 exploration holes (5,728m)
and 5 geotechnical holes (963m) completed to date. Assay results are pending on 18 holes
and drilling is currently in progress
on the edge of the Area 2 resource and at the IROD target, which is
approximately 850m southwest of the
main Minto deposit. The 5 geotechnical holes were additions to the program related to the expanded scope of the Area 2
pre-feasibility study and the Minto
open pit mine optimization work.
As announced March 5, 2007, the Phase 2 exploration
program is the major component of
2007?s exploration activities and consists of an expansion of the existing
geophysical surveys and more than 60 drill holes (for 13,500m). The objective for the drill
program is to (1) expand resources at
Area 2 and (2) to aggressively test several other highly prospective multi-anomaly targets (where there are
coincident IP chargeability highs, soil geochemical anomalies, magnetic
anomalies and positive drill intercepts) such as ?Ridgetop?, ?Area 118? and
?Airstrip?. Wide-spaced 1970?s
drilling in several of these targets intersected significant copper-gold mineralization including drill hole intercepts grading more than 3% copper over
at least 5 metres as shown on the attached map (http://www.sherwoodcopper.com/priority_exploration_targets.pdf).
All the targets to be tested in 2007 are shown on the attached map
(http://www..sherwoodcopper.com/detailed_gradientIP.pdf)
and are discussed in more detail in the March 5 news release. Follow this link to current drill hole
locations discussed in this news release (http://www.sherwoodcopper.com/2007_Phase2_drillhole_locationmap1.pdf).
Ridgetop
The eastern part of Ridgetop was one of
several ASARCO discoveries from the early 1970?s not followed up at the time.
While the Ridgetop area was the principal focus of
ASARCO?s exploration efforts in the 1970?s, the discovery of the Minto deposit
about 1km to the north soon became the focus of exploration activities. Assay data from 1971-72 drilling
indicated the potential for thick intervals of near surface, moderate grade
copper mineralization, but was not followed up. The ASARCO drill logs indicated that the
elevated copper grades were associated with chalcocite enrichment in partially
oxidized sulphide mineralization near surface. Similar chalcocite mineralization is
found in the southern portion of the main Minto deposit, where it is amenable to
conventional flotation, with its high copper content potentially resulting in
very high grade copper concentrates.
This information led Sherwood to test Ridgetop on a wide spaced,
reconnaissance basis.
Seven holes were collared in eastern and
south-eastern Ridgetop area to assess this potentially near surface zone of
moderate grade copper ? gold mineralization since it might be amenable to open
pit mining with very low waste to ore strip ratios. The eastern Ridgetop holes were drilled
to confirm the thickness and grade of the near surface copper mineralization
reported by ASARCO in the 1970?s
(including 64.4m of 1.12% copper in A11-72). Three Phase 2 drill holes were completed
in the north-eastern part of the Ridgetop area to test this near surface mineralization and confirm the presence of supergene-style chalcocite copper
enrichment. The thickness (30.5 to 42.5 metres) and
shallow depths (3 to 12m below surface) of mineralization intersected in holes
07SWC-182, -183 & -184 is encouraging.
The presence of significant amounts of chalcocite was confirmed, and
along with historical results, suggests significant potential for future resource gains at shallow depths.
Four drill holes
in the south-eastern area of Ridgetop (07SWC-180, -181, -185 & -186) targeted IP chargeability anomalies with mixed results. Two holes (07SWC-185 & -186)
intersected fault complicated sections but only geochemically anomalous
mineralization. 07SWC-181 returned
significant near surface mineralization similar to the north-eastern Ridgetop
holes. This latter hole also
intersected a higher grade of gold mineralization than expected for the
associated copper grade; a subinterval of 4.4 metres graded 2.3g/t gold and
1.08% copper.
Sherwood believes
that the shallow mineralization in 07SWC-181 may have been missed in 07SWC-180
because the interval is so near surface and it may have been ground away while
collaring the hole, before core drilling commenced.
Area 118
To date 13 exploration holes have been
completed at Area 118 within a large area measuring more than 500m by 200m,
located immediately adjacent to Area 2 on its southwest margins. Only two historical holes were ever
drilled in this area and both holes suggest that the mineralized horizons
discovered and tested last year at Area 2 may also be present in the Area 118
region. Sherwood?s geologic model
suggests that the two areas may in fact be part of the same system, separated by
a fault or possibly an open fold hinge. Drilling to date has confirmed the
presence of multiple, stacked mineralized horizons over the most aerially
extensive target yet identified on the entire Minto property. While assay results are available for
only 5 of the 13 drill holes drilled to date, these results support more step-out and infill drilling.
Drilling at Area 118 is targeted on a
persistent, north-dipping horizon located between 175 to 215m below
surface. Drilling so far typically
intersects one or more additional mineralized intervals above this principal
horizon, including some very thick intersections of nearer surface but generally
more moderate grade mineralization.
For example, hole 07SWC-189 cut 42m grading 0.51% copper between 59.7m to
101.7m above the main target horizon.
Highlights of the limited data received to
date also include 07SWC-187, where a 5.6m intersection grades 1.04% Cu and
0.47g/t Au. In hole 07SWC-191, a
12.0m section assayed 0.93% copper and 0.30g/t gold, including 4.4 metres
grading 1.37% copper and 0.45g/t gold.
Hole 07SWC-188 intersected a 5.8m interval below the principal horizon of interest and starting at 249.4
metres grades 2.09% copper and 1.47 g/t gold. This latter intercept is potentially significant since it appears to correlate with a deep, high grade
intersection in southern Area 2 (where an ASARCO hole, A137-74 returned an
impressive 7.6 metres of 5.29% copper
and 2.61g/t gold). Hole 07SWC-188
lies more than 160m to the northwest of A137-74.
Area 2
One drill is currently working at Area 2,
testing the west and north perimeters that were not completely closed off in
2006. Three exploration holes have
been completed but assays are still pending. In addition to the exploration drilling,
three other oriented geotechnical holes were completed to aid in pit wall
stability assessment of a potentially much expanded open pit to encompass both
the Minto and Area 2 deposits. Two
other holes were drilled in the core of the Area 2 deposit to obtain material
for Bond Work Index testing of Area 2 ore to assess SAG mill capacity and
performance characteristics.
Minto Project
The Minto Project is a high-grade copper-gold
deposit located in the Yukon Territory of Canada. The mine development is complete and
first concentrates were produced at the end of May, 2007. Commissioning and production ramp up is
underway and full production is anticipated by the end of the third quarter of
2007.
Sherwood
Sherwood?s successful
consolidation of the ownership of the Minto Project provides a unique investment opportunity ?
participation in a high-grade, open pit copper-gold mine located in
Canada with tremendous exploration
potential on the property.
Quality
Assurance
The technical information in this news release has been prepared in
accordance with Canadian regulatory requirements set out in National Instrument
43-101 and reviewed by Stephen P. Quin, P. Geo., President & CEO for Sherwood Copper Corporation. The
exploration activities at the Minto project site are carried out under the
supervision of Brad Mercer, P. Geol.,
Exploration Manager with Sherwood.
The analytical
method for the copper, gold and silver analyses is multistage acid digestion of
the samples followed by atomic absorption spectroscopy for copper and fire assay
with atomic absorption spectroscopy finish for gold and silver carried out by
ALS Chemex in North
Vancouver.
When visible gold is noted in drill core samples or regular fire assay
values appear abnormally high, the pulp and screen metallic assay method is used
to determine the total gold content and gold contents of different size
fractions. This is considered industry best practice when dealing with coarse
gold mineralization where a nugget effect is suspected. This determination is
accepted as the most representative value and is used in the assay database for
resource calculations. Blank and standard samples are used for quality assurance
and quality control, and any check samples that assay outside the expected
ranges results in the entire batch being re-assayed. After the completion of planned drill
programs at Minto, random check assays will be carried out by Acme Analytical of
Vancouver.
Assay intervals
reported herein are drill core lengths unless otherwise stated. Because the deposit is essentially flat
lying and most drill holes reported to date are vertical, true widths are
generally expected to be the same as reported core lengths.
Additional
Information
Additional information on Sherwood
and its Minto Project can be obtained on Sherwood?s website at http://www.sherwoodcopper.com..
On behalf of the board of
directors
SHERWOOD COPPER
CORPORATION
?Stephen P.
Quin?
Stephen P.
Quin
President &
CEO
For further information please contact Stephen Quin, President of Sherwood Copper
Corp.
or Brad Kopp
or Kristy Reynolds at (604) 687-7545
or (888) 338-2200
** INTERNET ADDRESS: www.sherwoodcopper.com **
The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this press
release. This news release may contain forward looking statements which are not
historical facts, such as ore reserve estimates, anticipated production or
results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause
actual results to differ materially from those projected. These risks and
uncertainties include, but are not limited to, metal price volatility,
volatility of metals production, project development, ore reserve estimates,
future anticipated reserves and cost engineering estimate risks, geological
factors and exploration results.
See the Company?s filings for a more detailed discussion of factors that
may impact expected results.
Details
of Drill Results
To
accompany Sherwood Copper News Release Dated July 17,
2007
Hole
ID
&
Target |
Interval
ID |
From
(m) |
To
(m) |
Interval
(m) |
Interval
(ft) |
Copper
(%) |
Gold
(g/t) |
Silver
(g/t) |
AREA
2 |
07SWC-169 |
Minto Main |
70.0 |
92.3 |
22.3 |
73.2 |
1.88 |
2.99 |
8.3 |
|
Including |
72.0 |
73.1 |
1.1 |
3.6 |
14.90 |
46.2 |
72.7 |
|
|
|
|
|
|
|
|
|
07SWC-170 |
Abandoned due to technical drilling problems penetrating
overburden |
|
|
|
|
|
|
|
|
|
07SWC-171 |
Unnamed |
117.9 |
123.3 |
5.4 |
17.6 |
0.59 |
0.12 |
1.8 |
?Gap? |
Unnamed |
228.0 |
231.3 |
3.3 |
11.0 |
0.55 |
0.03 |
1.3 |
|
Unnamed |
235.3 |
239.1 |
3.8 |
12.5 |
0.52 |
0.06 |
1.5 |
|
Unnamed |
248.4 |
256.6 |
8.2 |
27.0 |
0.51 |
0.07 |
1.0 |
|
Unnamed |
314.5 |
333.9 |
19.4 |
63.7 |
1.03 |
0.35 |
4.2 |
|
Including |
326.6 |
331.5 |
4.9 |
16.1 |
2.08 |
0.75 |
8.2 |
|
|
|
|
|
|
|
|
|
07SWC-172 |
Minto Main |
63.0 |
91.5 |
28.5 |
93.6 |
2.92 |
1.22 |
12.0 |
|
Including |
68.2 |
80.4 |
12.2 |
40.1 |
5.03 |
1.83 |
23.3 |
|
|
|
|
|
|
|
|
|
07SWC-173 |
Minto Main |
63.1 |
80.3 |
17.2 |
56.3 |
2.94 |
1.79 |
13.7 |
|
Including |
71.5 |
80.3 |
8.8 |
29.0 |
3.44 |
1.97 |
7.8 |
|
|
|
|
|
|
|
|
|
07SWC-174 |
Minto Main |
10.1 |
43.4 |
33.1 |
108.6 |
|
|
|
|
|
Not assayed
? used for metallurgical test material |
|
Unnamed |
257.8 |
261.9 |
5.1 |
16.8 |
0.66 |
0.14 |
2.5 |
|
Unnamed |
329.4 |
338.2 |
8.8 |
28.9 |
0.64 |
0.06 |
2.5 |
|
|
|
|
|
|
|
|
|
07SWC-175 |
Minto Main |
61.4 |
80.9 |
19.5 |
64.0 |
2.64 |
1.05 |
9.7 |
|
Including |
64.4 |
68.8 |
4.4 |
14.5 |
4.48 |
1.89 |
17.6 |
|
|
|
|
|
|
|
|
|
07SWC-176 |
Unnamed |
193.0 |
196.9 |
3.9 |
12.9 |
0.64 |
0.11 |
1.3 |
?Gap? |
Unnamed |
291.9 |
303.6 |
11.7 |
38.4 |
2.95 |
1.07 |
7.7 |
|
Including |
296.2 |
302.2 |
6.0 |
19.7 |
3.97 |
1.49 |
12.9 |
|
|
|
|
|
|
|
|
|
07SWC-177 |
Minto Main |
73.3 |
77.3 |
4.0 |
13.0 |
1.19 |
0.58 |
6.9 |
?Gap? |
Lower Minto |
110.3 |
115.3 |
5.0 |
16.4 |
0.58 |
0.13 |
2.3 |
|
Unnamed |
272.3 |
274.6 |
2.3 |
7.6 |
0.65 |
0.05 |
2.0 |
|
Unnamed |
348.0 |
348.5 |
0.5 |
1.6 |
1.12 |
0.37 |
5.6 |
|
Unnamed |
351.4 |
354.3 |
2.9 |
9.6 |
0.54 |
0.10 |
2.3 |
|
|
|
|
|
|
|
|
|
07SWC-178 |
Interval L |
94.1 |
110.6 |
16.5 |
54.1 |
0.61 |
0.06 |
1.4 |
?Gap? |
Interval M |
150.9 |
167.2 |
16.3 |
53.4 |
1.99 |
0.88 |
6.4 |
|
Including |
150.9 |
160.5 |
9.6 |
31.6 |
2.76 |
1.29 |
8.7 |
|
Interval Q |
274.7 |
284.0 |
9.3 |
30.5 |
1.00 |
0.24 |
2.4 |
|
|
|
|
|
|
|
|
|
07SWC-179 |
Geochemically
anomalous ? no significant intersections |
?Gap? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
07SWC-180 |
Geochemically
anomalous ? no significant intersections |
?Ridgetop? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
07SWC-181 |
Unnamed |
14.7 |
27.5 |
12.9 |
42.3 |
0.58 |
0.86 |
5.8 |
?Ridgetop? |
Including |
23.1 |
27.5 |
4.4 |
14.4 |
1.08 |
2.30 |
14.7 |
|
|
|
|
|
|
|
|
|
07SWC-182 |
Unnamed |
12.2 |
54.7 |
42.5 |
139.4 |
0.62 |
0.06 |
1.2 |
?Ridgetop? |
Including |
12.2 |
25.6 |
13.4 |
44.0 |
1.29 |
0.03 |
1.4 |
|
|
|
|
|
|
|
|
|
07SWC-183 |
Unnamed |
3.1 |
35.8 |
32.7 |
107.3 |
0.89 |
0.03 |
0.8 |
?Ridgetop? |
Including |
3.1 |
6.0 |
2.9 |
9.5 |
3.62 |
0.05 |
1.9 |
|
and |
15.9 |
21.1 |
5.2 |
17.1 |
0.71 |
0.05 |
1.5 |
|
and |
30.1 |
35.8 |
5.7 |
18.7 |
2.59 |
0.08 |
2.4 |
|
Unnamed |
52.8 |
55.2 |
2.4 |
7.9 |
1.29 |
0.05 |
1.0 |
|
|
|
|
|
|
|
|
|
07SWC-184 |
Unnamed |
5.0 |
35.5 |
30.5 |
100.1 |
0.36 |
0.06 |
1.7 |
?Ridgetop? |
Including |
5.0 |
11.6 |
6.6 |
21.6 |
0.66 |
0.03 |
4.7 |
|
|
|
|
|
|
|
|
|
07SWC-185 |
Geochemically
anomalous ? no significant intersections |
?Ridgetop? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
07SWC-186 |
Geochemically
anomalous ? no significant intersections |
?Ridgetop? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
07SWC-187 |
Unnamed |
66.5 |
75.4 |
8.9 |
29.2 |
0.48 |
0.09 |
1.1 |
?Area
118? |
Unnamed |
157.0 |
158.9 |
1.8 |
5.9 |
1.34 |
0.02 |
1.8 |
|
Area 118M |
195.5 |
205.9 |
10.4 |
34.1 |
0.70 |
0.33 |
2.6 |
|
Including |
195.5 |
201.1 |
5.6 |
18.4 |
1.04 |
0.47 |
3.4 |
|
|
|
|
|
|
|
|
|
07SWC-188 |
Unnamed |
52.8 |
84.4 |
31.6 |
103.7 |
0.49 |
0.10 |
1.3 |
?Area
118? |
Area 118M |
186.6 |
196.7 |
10.1 |
33.1 |
0.72 |
0.19 |
3.9 |
|
Unnamed |
249.4 |
255.2 |
5.8 |
19.0 |
2.09 |
1.47 |
20.0 |
|
|
|
|
|
|
|
|
|
07SWC-189 |
Unnamed |
59.7 |
101.7 |
42 |
137.8 |
0.51 |
0.07 |
1.2 |
?Area
118? |
Including |
92.5 |
101.7 |
9.2 |
30.2 |
1.01 |
0.15 |
2.3 |
|
Unnamed |
135.5 |
141.7 |
6.2 |
20.3 |
0.53 |
0.06 |
1.4 |
|
Area 118M |
175.6 |
176.9 |
1.3 |
4.3 |
1.52 |
0.47 |
9.2 |
|
|
|
|
|
|
|
|
|
07SWC-190 |
Unnamed |
116.3 |
119.9 |
3.7 |
12.1 |
0.58 |
0.05 |
1.5 |
?Area
118? |
Area 118M |
175.3 |
183.9 |
8.6 |
28.2 |
0.68 |
0.14 |
2.7 |
|
|
|
|
|
|
|
|
|
07SWC-191 |
Unnamed |
62.5 |
65.0 |
2.5 |
8.2 |
1.06 |
0.06 |
pending |
?Area
118? |
Unnamed |
81.3 |
99.0 |
17.7 |
58.1 |
0.70 |
0.16 |
pending |
|
Including |
88.7 |
94.5 |
5.8 |
19.0 |
1.06 |
0.17 |
pending |
|
Area 118M |
199.4 |
211.4 |
12.0 |
39.4 |
0.93 |
0.30 |
3.4 |
|
Including |
199.4 |
203.8 |
4.4 |
14.4 |
1.37 |
0.45 |
5.6 |
|
|
|
|
|
|
|
|
|