Sherwood is now working with SRK to incorporate these changes to the pit
slope angles into its open pit design for the main Minto pit, which should
result in a significant reduction in the overall quantity of waste
stripping. For example, the August
2006 feasibility study estimated that a 5 degree increase in pit slopes would
reduce the waste stripping by approximately 4.5 million
tonnes.
A similar program of geotechnical work is nearing completion for Area 2,
which information will be used in the design of an integrated pit encompassing
both the main Minto deposit and the Area 2 deposit defined in
2006.
Commissioning
Update
Sherwood has made considerable
progress in commissioning the
mill. Over the past 10 days, the
mill is averaging approximately 900
tonnes per day of throughput (or about 60% of capacity) and has achieved over
1,100 tonnes on successive days. Copper recoveries have been averaging approximately 85% and concentrate grades over 40%
copper, which is higher than expected at this stage of commissioning. Mill throughput and copper recoveries
have been affected by some performance issues with the rougher (first stage)
flotation cells and by commissioning of the tailings filters. The balance of the plant has been
performing well. These equipment
performance issues are believed to be temporary and are being addressed with
equipment providers and should be
resolved shortly.
Minto
Project
The Minto Mine is a high-grade
copper-gold deposit located in the Yukon Territory of Canada. The mill is currently undergoing
commissioning and is expected to ramp up to full production during 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 fully permitted,
operating, high-grade, open pit copper-gold mine located in Canada with
tremendous exploration potential on the 100% owned
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
geotechnical evaluation was carried out under the supervision of Jim Cremeens,
P.E., P.G of SRK (Denver). The slope stability modeling and
analyses were conducted by Mike Levy, P.E., P.G., and supervised by Paul Visca,
P.E. Dave Dix and Mike Levy of SRK (Denver) carried out the field investigation
program. Technical information related to mine
operations has been reviewed by Ian
Berzins, P.Eng, General Manager, Minto Mine.
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.