A
NORTHAIR GROUP COMPANY
SUITE
860
- 625
HOWE STREET
VANCOUVER, BC
V6C 2T6 CANADA TEL:
(604) 687-7545 FAX: (604) 689-5041
PRESS RELEASE
FOR IMMEDIATE
RELEASE
December 3, 2007
#07-34
Sherwood Intersects High Grade Copper-Gold
Mineralization at Ridgetop & Area 118, Minto
Mine
0.75% Cu over 88m including 2.0% Cu over 13.7m at
Ridgetop; 3.7% Cu & 1.3 g/t Au over 8.4m at Area
118
VANCOUVER, BRITISH COLUMBIA -
Sherwood Copper
Corporation (SWC: TSX-V) today announced results for an additional 12 holes from
its 102 hole 2007 drill program
recently completed at the high grade Minto copper-gold mine in the Yukon. Highlights from the latest batch of
results received include further confirmation of an emerging higher grade core
at Area 118 and an exceptionally thick, near surface intersection from the
Ridgetop East prospect. Highlights of the results are tabulated
below, while complete results for the latest 12 holes are attached.
Hole
ID |
Target |
Interval
ID |
From
(m) |
To
(m) |
Interval
(m) |
Interval
(ft) |
Copper
(%) |
Gold
(g/t) |
Silver
(g/t) |
07SWC-222 |
Area
118 |
|
17.7 |
23.0 |
5.3 |
17.4 |
2.51 |
0.60 |
6.1 |
07SWC-230 |
Area 118 |
118M |
183.0 |
194.3 |
11.3 |
37.1 |
2.86 |
1.07 |
8.1 |
including |
|
|
185.9 |
194.3 |
8.4 |
27.6 |
3.68 |
1.34 |
10.5 |
07SWC-231 |
Airstrip |
|
181.1 |
189.6 |
8.5 |
27.9 |
1.50 |
0.07 |
0.6 |
including |
|
|
181.1 |
185.1 |
4.0 |
13.1 |
2.65 |
0.11 |
0.9 |
07SWC-238 |
Area 118 |
118M |
233.2 |
238.8 |
5.6 |
18.4 |
2.05 |
1.12 |
10.3 |
07SWC-254 |
Ridgetop |
|
27.2 |
116.0 |
88.8 |
291.3 |
0.75 |
0.15 |
2.0 |
including |
|
|
29.9 |
43.6 |
13.7 |
44.9 |
2.04 |
0.07 |
1.2 |
and |
|
|
102.7 |
116.0 |
13.3 |
43.6 |
1.11 |
0.46 |
7.0 |
?The exploration
potential at the high grade Minto copper-gold mine continues to expand,? said
Stephen Quin, President &
CEO. ?I am particularly encouraged
by the near surface, exceptionally thick intersection from Ridgetop and yet
another high grade intersection from Area 118. The near surface aspect of Ridgetop is
what attracted us to drill it in 2007; any resource in this area could
potentially have a very low strip ratio,? he added. ?The development of a high grade core in
Area 118 is also very encouraging.
These areas have the potential to provide additional resources beyond what is currently
being scoped out in the independent pre-feasibility study that incorporates the Area 2
deposit discovered and defined in 2006.?
Sherwood anticipates reporting the remainder
of the 2007 drill results by year-end or in very early 2008, as they become
available. The information will be
used to complete new NI 43-101 compliant mineral resource estimates and lay out
the priorities for a significant 2008
exploration program to follow up on
the exciting 2007 discoveries.
2007 Drill Program
At 23,618 metres of drilling, the 102-hole
campaign was more than 40% larger than originally budgeted, a direct result of
the significant discoveries made during 2007. Including this announcement, results for
68 holes have now been released and those for a 34 additional holes are
pending.
The objective
of the 2007 exploration program was
to more fully define the limits of the Area 2 deposit and provide technical information for the pre-feasibility study, but mostly to broadly test a
wide swath of the Minto property to
the south, west and between the Minto and Area 2 deposits. These are areas where various
combinations of prior drilling, geophysics and Sherwood?s geological
interpretation suggested potential
for the discovery of further high grade copper-gold mineralization.
In the 2007
program, ten holes were
drilled for geotechnical and metallurgical purposes; five in the Minto pit and
five at the Area 2 deposit, while 92 holes were drilled for exploration
purposes. Significant new discoveries
were made in the Area 118, Copper Keel and Airstrip areas and in the Gap between
the Minto Mine and Area 2. All of
these prospects are discussed in
more detail in the March 5, 2007 news
release and are
identified on the accompanying maps:
http://www.sherwoodcopper.com/i/pdf/2007-12-03PriorityExplorationCorridor.pdf
and http://www.sherwoodcopper.com/i/pdf/Gradient-Array-IP-Sept07.pdf.
This release includes assay results for
exploration holes at Area 118 (5 holes), Airstrip SW (3 holes) and Ridgetop East
(4 holes). For a current drill hole
location, please view the accompanying map:
(http://www.sherwoodcopper.com/i/pdf/2007-12-03Phase2DHLocationMap.pdf).
Minto Project
The Minto Mine is a high-grade open pit
copper-gold deposit located in the Yukon Territory of Canada. Sherwood
acquired the Minto project in June
2005 and, in just two years from its acquisition, completed a bankable
feasibility study, arranged project
financing, and built a $100 million open pit copper-gold mine. Commercial
production commenced on October 1,
2007. In parallel with these development
activities, Sherwood has been running an exceptionally successful exploration
program that has resulted in multiple
discoveries of high grade copper-gold mineralization across its Minto Mine
property.
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 unless otherwise
stated.
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.
2007 Drill
Statistics ? Minto Property
|
Phase
I |
Phase
II |
Total |
Status |
Drill Area and Type of
Hole |
Feb -
April |
May -
Oct |
2007 |
Assay Data
Released |
Assay Data
Pending |
Exploration
Holes |
|
|
|
|
|
Airstrip
SW |
0 |
11 |
11 |
8 |
3 |
Airstrip
C. |
0 |
2 |
2 |
0 |
2 |
Area
2 |
0 |
8 |
8 |
8 |
0 |
Area
118 |
0 |
29 |
29 |
20 |
9 |
Copper
Keel S. |
0 |
4 |
4 |
1 |
3 |
Gap |
6 |
0 |
6 |
6 |
0 |
IROD |
0 |
4 |
4 |
4 |
0 |
Ridgetop
E |
0 |
25 |
25 |
11 |
14 |
Ridgetop
W |
0 |
3 |
3 |
0 |
3 |
|
6 |
86 |
92 |
58 |
34 |
Geotech
/ Met Holes |
|
|
|
|
|
Area
2 |
|
5 |
5 |
5 |
0 |
Minto |
5 |
|
5 |
5 |
0 |
|
5 |
5 |
10 |
10 |
0 |
Summary
All Holes |
|
|
|
|
|
#
of Holes |
10 |
92 |
102 |
68 |
34 |
#
of Metres |
2,701 |
20,917 |
23,618 |
|
|
Details
of Drill Results
To
accompany Sherwood Copper News Release Dated October 29,
2007
Hole
ID
&
Target |
Interval
ID |
From
(m) |
To
(m) |
Interval
(m) |
Interval
(ft) |
Copper
(%) |
Gold
(g/t) |
Silver
(g/t) |
07SWC-169 to 220 |
|
Holes 07SWC-169 To
07SWC-220 Previously Released |
|
|
|
|
|
|
|
|
|
07SWC-221 |
|
164.4 |
175.6 |
11.2 |
36.75 |
0.72 |
0.16 |
2.0 |
?Airstrip
SW? |
Including |
171.0 |
175.6 |
4.6 |
15.1 |
0.99 |
0.21 |
2.6 |
|
|
|
|
|
|
|
|
|
07SWC-222 |
|
17.7 |
23.0 |
5.3 |
17.4 |
2.51 |
0.60 |
6.1 |
?Area
118? |
|
128.1 |
131.7 |
3.6 |
11.8 |
0.97 |
0.04 |
1.5 |
|
|
146.3 |
152.5 |
6.2 |
20.3 |
1.00 |
0.28 |
3.2 |
|
|
|
|
|
|
|
|
|
07SWC-223 |
|
Holes 07SWC-223
Previously Released |
?Airstrip
SW? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
07SWC-224 |
|
25.7 |
28.5 |
2.8 |
9.2 |
0.79 |
0.36 |
3.8 |
?Area
118? |
|
137.5 |
140.1 |
2.6 |
8.5 |
0.64 |
0.16 |
2.5 |
|
|
179.5 |
181.4 |
1.9 |
6.2 |
1.29 |
0.53 |
3.1 |
|
|
|
|
|
|
|
|
|
07SWC-225 to 226 |
|
Holes 07SWC-225 To
07SWC-226 Previously Released |
|
|
|
|
|
|
|
|
|
07SWC-227 |
|
219.3 |
230.0 |
10.7 |
35.1 |
0.81 |
0.06 |
1.0 |
?Airstrip
SW? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
07SWC-228 |
|
46.6 |
56.6 |
10.0 |
32.8 |
0.43 |
0.01 |
0.4 |
?Area
118? |
|
106.3 |
130.0 |
23.7 |
77.8 |
0.50 |
0.05 |
1.3 |
|
|
140.1 |
146.5 |
6.4 |
21.0 |
0.42 |
0.09 |
1.5 |
|
|
|
|
|
|
|
|
|
07SWC-229 |
|
ASSAYS
PENDING |
?Airstrip
SW? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
07SWC-230 |
|
183.0 |
194.3 |
11.3 |
37.1 |
2.86 |
1.07 |
8.1 |
?Area
118? |
including |
185.9 |
194.3 |
8.4 |
27.6 |
3.68 |
1.34 |
10.5 |
|
|
|
|
|
|
|
|
|
07SWC-231 |
|
181.1 |
189.6 |
8.5 |
27.9 |
1.50 |
0.07 |
0.6 |
?Airstrip
SW? |
including |
181.1 |
185.1 |
4.0 |
13.1 |
2.65 |
0.11 |
0.9 |
|
|
|
|
|
|
|
|
|
07SWC-232 to 237 |
|
ASSAYS
PENDING |
|
|
|
|
|
|
|
|
|
07SWC-238 |
|
4.8 |
8.5 |
3.7 |
12.1 |
3.04 |
0.14 |
1.9 |
?Area
118? |
|
45.7 |
40.4 |
3.7 |
12.1 |
0.75 |
0.14 |
1.2 |
|
|
158.0 |
164.4 |
6.4 |
21.0 |
0.43 |
0.01 |
0.6 |
|
|
187.0 |
188.0 |
1.0 |
3.1 |
2.24 |
1.23 |
13.1 |
|
|
233.2 |
238.8 |
5.6 |
18.4 |
2.05 |
1.12 |
10.3 |
|
|
|
|
|
|
|
|
|
07SWC-239 to 245 |
|
ASSAYS
PENDING |
|
|
|
|
|
|
|
|
|
07SWC-246 |
|
2.8 |
33.2 |
30.4 |
99.7 |
0.39 |
0.05 |
1.2 |
?East Ridgetop? |
including |
2.8 |
7.8 |
5.0 |
16.4 |
0.5 |
0.04 |
0.6 |
|
and |
17.7 |
17.2 |
1.5 |
4.92 |
1.2 |
0.70 |
3.3 |
|
and |
22.6 |
33.2 |
10.6 |
34.8 |
0.58 |
0.1 |
2.3 |
|
|
|
|
|
|
|
|
|
07SWC-247 |
|
3.0 |
31.9 |
28.9 |
94.8 |
0.37 |
0.07 |
1.4 |
?East Ridgetop? |
including |
3.0 |
7.8 |
4.8 |
15.7 |
0.55 |
0.05 |
1.8 |
|
and |
22.5 |
31.9 |
9.4 |
30.8 |
0.57 |
0.16 |
2.7 |
|
|
|
|
|
|
|
|
|
07SWC-248
|
|
ASSAYS
PENDING |
?East Ridgetop? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
07SWC-249 |
|
Geochemically anomalous ? no significant
intersections |
?East Ridgetop? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
07SWC-250 to 253 |
|
ASSAYS
PENDING |
|
|
|
|
|
|
|
|
|
07SWC-254 |
|
27.2 |
116.0 |
88.8 |
291.3 |
0.75 |
0.15 |
2.0 |
?East Ridgetop? |
including |
29.9 |
43.6 |
13.7 |
44.9 |
2.04 |
0.07 |
1.2 |
|
and |
102.7 |
116.0 |
13.3 |
43.6 |
1.11 |
0.46 |
7.0 |