ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for monitor Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.

SWC Sherwood Copper Com Npv

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
Sherwood Copper Com Npv TSXV:SWC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Sherwood Increases Continuity of High Grade Copper Trend at Its Kutcho Copper Project

13/11/2008 10:01am

Marketwired Canada


Sherwood Copper Corporation (TSX VENTURE:SWC)(TSX VENTURE:SWC.DB) today
announced the fifth and final batch of assay results from its 2008 drill program
at the high grade Kutcho Copper Project, located in north-western British
Columbia. The 2008 program successfully infilled large data gaps within the
previous "Main" deposit mineral resource, intersecting thick intervals of near
surface, high-grade copper mineralization, with significant by-product values in
zinc, silver and gold. The Main deposit is one of three massive sulphide
deposits identified at Kutcho, which Sherwood controls through its wholly owned
subsidiary, Kutcho Copper Corp.


Tabulated below are highlights of the last batch of assay results, while
complete results for these six holes are attached. Results for previously
reported holes are contained in news releases available on the company's
website.




--------------------------------------------------------------------------
            From     To  Interval  Interval  Copper   Zinc    Gold  Silver
Hole ID       (m)    (m)       (m)      (ft)     (%)    (%)   (g/t)   (g/t)
--------------------------------------------------------------------------
WK08-160   115.0  147.7      32.7     107.3    1.60   1.40    0.28      27
--------------------------------------------------------------------------
 including 137.7  144.2       6.5      21.3    3.18   1.02    0.43      54
--------------------------------------------------------------------------
WK08-165    59.2   69.7      10.5      34.4    3.64   3.98    1.72      64
--------------------------------------------------------------------------
 including  62.0   67.0       5.0      16.4    6.45   5.63    3.34     121
--------------------------------------------------------------------------
WK08-168   101.3  128.0      26.7      87.6    1.93   1.56    0.27      28
--------------------------------------------------------------------------
 including 112.0  117.5       5.5      18.0    2.62   0.92    0.35      41
--------------------------------------------------------------------------
 and       121.3  128.0       6.7      22.0    3.84   3.84    0.33      52
--------------------------------------------------------------------------



"The 2008 program achieved its objective of defining a continuous, crescent
shaped zone of thick, near surface, high grade copper mineralization with
significant by-product values in zinc, silver and gold," said Stephen Quin,
President and CEO of Sherwood Copper. "This drilling also provided additional
data for a better open pit design and ample material for extensive metallurgical
testing. By infilling large gaps in the previous Main deposit model, we expect
to increase both the overall grade of the mineral resource and increase the
classification for much of this resource," he said. Holes WK08-165 and -166
extend the high grade mineralization further westward, while holes WK08-160 and
-168 infill two separate gaps in the high grade trend with thick intersections
of excellent grade copper mineralization. "Our 2008 drill program has
significantly improved the continuity of the high grade mineralization, which
should result in a robust geological model and a high grade, near surface copper
resource with significant zinc, gold and silver by-product values. This new
resource estimation is expected before the end of the year," said Mr. Quin.


2008 Drill Program

Reporting of assay results for all seventy-eight (81 were collared but 3 were
abandoned) 2008 exploration holes is now complete. Five additional drill holes
were completed as groundwater monitoring wells in support of ongoing permitting
activities. Two of these water wells intersected the Kutcho footwall VMS horizon
that lies 100m to 120m stratigraphically beneath the Main deposit. One well,
RK11 intersected 1.6 metres of 1.24% copper; 1.11g/t gold and 104g/t silver.
This horizon represents a poorly tested exploration opportunity for future
consideration.


Follow the first link below to view a long section displaying the result of all
drilling to date, represented as a grade times thickness plot, pierce points for
the 2008 drill holes are included for reference. The second link shows the same
grade times thickness parameters without the 2008 drill data, provided for
comparison purposes.


http://media3.marketwire.com/r/13Nov08swc2

http://media3.marketwire.com/r/13Nov08swc1

Kutcho Copper Project

Sherwood views Kutcho's high grade, near surface copper resources, with their
substantial by-product credits of zinc, silver and gold, as a potential
opportunity to develop an economically attractive open pit mining operation
similar in scale to its Minto Mine. The previously announced Preliminary
Economic Assessment ("PEA") set out a base case for development of the Kutcho
Copper Project by focusing on the Main deposit, but outlined a number of
opportunities to materially enhance the merits of the project. Sherwood is
continuing the process of optimizing the Kutcho Copper Project by focusing on
these opportunities, including the definition of higher grade resources.
Further, there is additional upside potential from the possible exploitation of
underground resources not considered in the PEA and through the discovery of
additional deposits in this prospective volcanogenic massive sulphide terrain.


About Sherwood Copper

Sherwood Copper's objective is the profitable production of base and precious
metals from high grade, open pit mines in Canada. Sherwood's first operating
mine, the high grade Minto copper-gold mine in Yukon, Canada, was built on
budget and ahead of schedule. The Minto Mine is one of the highest-grade open
pit copper-gold mines in the world, and is forecast to be a low cost producer.
Aggressive exploration on the Minto property has yielded significant success,
providing Sherwood the opportunity to 'grow from within' by expanding the
resource and reserve base, potentially leading to further production increases.
To further accelerate its production growth, Sherwood intends to pursue merger &
acquisition opportunities that fit its business model and, in May 2008, Sherwood
acquired 100% ownership in Western Keltic Mines (now Kutcho Copper Corp.), owner
of the high-grade Kutcho copper-zinc-gold-silver deposit in northwestern British
Columbia. Sherwood expects to lever off its successful development of the Minto
Mine and rapidly advance the Kutcho project to a production decision. Sherwood
has also agreed to combine with Capstone Mining, subject to requisite
shareholder and regulatory approvals, creating a new low cost, growth oriented
copper producer with two high grade mines and a strong balance sheet.


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 Kutcho Project site are carried
out under the supervision of Brad Mercer, P. Geol., and V.P. Exploration with
Sherwood.


The analytical method for copper, zinc and silver includes aqua regia digestion
followed by ICP-AES (atomic emission spectroscopy). If either copper or zinc
reports over 2500ppm (0.25%), ore grade analysis is conducted for copper, zinc
and silver. Gold is measured using fire assay followed by atomic absorption
spectroscopy. When visible gold is noted in drill core samples or regular fire
assay values exceed 5 grams per tonne, the pulp and screen metallic assay method
is used to determine total gold content and gold content of different size
fractions. This is considered industry best practice when dealing with coarse
gold mineralization where a nugget effect is suspected. The result of the pulp
and screen metallic assay is accepted as the most representative value and used
in the assay database for resource calculations. All analytical work is carried
out by ALS Chemex in North Vancouver. Blanks and standard reference materials
are used for quality assurance and quality control. If more than two check
samples assay outside the expected ranges, the entire work order is re-assayed.
After the completion of planned drill programs at Kutcho, random check assays
will be carried out by Acme Analytical of Vancouver.


Additional Information

Additional information on Sherwood and its Minto & Kutcho projects 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, President & CEO

Forward Looking Statements

This document may contain "forward-looking statements" within the meaning of
Canadian securities legislation and the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements are made as of
the date of this document and the Company does not intend, and does not assume
any obligation, to update these forward-looking statements.


Forward-looking statements relate to future events or future performance and
reflect management's expectations or beliefs regarding future events and
include, but are not limited to, statements with respect to the estimation of
mineral reserves and resources, the realization of mineral reserve estimates,
the timing and amount of estimated future production, costs of production,
capital expenditures, success of mining operations, environmental risks,
unanticipated reclamation expenses, title disputes or claims and limitations on
insurance coverage. In certain cases, forward-looking statements can be
identified by the use of words such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved" or the
negative of these terms or comparable terminology. By their very nature
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Such
factors include, among others, risks related to actual results of current
exploration activities; changes in project parameters as plans continue to be
refined; future prices of resources; possible variations in ore reserves, grade
or recovery rates; accidents, labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing or in the
completion of development or construction activities; as well as those factors
detailed from time to time in the Company's interim and annual financial
statements and management's discussion and analysis of those statements, all of
which are filed and available for review on SEDAR at www.sedar.com. Although the
Company has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended. There can be
no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements.


Accordingly, readers should not place undue reliance on forward-looking statements.



Details of Drill Results
To accompany Sherwood Copper News Release Dated November 13, 2008

--------------------------------------------------------------------------
            From     To  Interval  Interval  Copper   Zinc    Gold  Silver
Hole ID       (m)    (m)       (m)      (ft)     (%)    (%)   (g/t)   (g/t)
--------------------------------------------------------------------------
WK08-089
 to 159                      Previously Released
--------------------------------------------------------------------------

--------------------------------------------------------------------------
WK08-160   115.0  147.7      32.7     107.3    1.60   1.40    0.28    27.5
--------------------------------------------------------------------------
 including 137.7  141.3       3.6      11.8    4.52   1.61    0.55    74.7
--------------------------------------------------------------------------
 including 137.7  144.2       6.5      21.3    3.18   1.02    0.43    54.2
--------------------------------------------------------------------------

--------------------------------------------------------------------------
WK08-161
 to 163                      Previously Released
--------------------------------------------------------------------------

--------------------------------------------------------------------------
WK08-164   165.9  184.2      18.3      60.0    1.24   0.83    0.29    36.1
--------------------------------------------------------------------------
 including 168.8  173.8       5.0      16.4    2.22   0.24    0.65      30
--------------------------------------------------------------------------

--------------------------------------------------------------------------
WK08-165    59.2   69.7      10.5      34.4    3.64   3.98    1.72    63.6
--------------------------------------------------------------------------
 including  62.0   67.0       5.0      16.4    6.45   5.63    3.34   121.4
--------------------------------------------------------------------------

--------------------------------------------------------------------------
WK08-166    68.7   77.5       8.8      28.9    1.90   2.95    0.42    35.6
--------------------------------------------------------------------------
 including  68.7   73.7       5.0      16.4    3.09   4.90    0.61    57.2
--------------------------------------------------------------------------

--------------------------------------------------------------------------
WK08-167    90.8   98.1       7.3      24.0    0.51   1.22    0.12     4.7
--------------------------------------------------------------------------

--------------------------------------------------------------------------
WK08-168   101.3  128.0      26.7      87.6    1.93   1.56    0.27    28.2
--------------------------------------------------------------------------
 including 112.0  117.5       5.5      18.0    2.62   0.92    0.35    41.1
--------------------------------------------------------------------------
 and       121.3  128.0       6.7      22.0    3.84   3.84    0.33    51.9
--------------------------------------------------------------------------

1 Year Sherwood Copper Com Npv Chart

1 Year Sherwood Copper Com Npv Chart

1 Month Sherwood Copper Com Npv Chart

1 Month Sherwood Copper Com Npv Chart