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| 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 | - |
Hot Features
Premium
Sherwood Copper Corporation (TSX VENTURE:SWC)(TSX VENTURE:SWC.DB) today
announced results for 17 further drill holes from its 2008 exploration program
at the high grade Minto copper-gold mine in the Yukon. Highlights from this
latest batch of results include substantial intervals of near surface, good
grade copper-gold mineralization at Ridgetop, including significant
sub-intervals of much higher grades.
Highlights from this latest batch of 17 holes are summarized in the table below
while complete assay results for the fifteen holes reported herein are attached.
--------------------------------------------------------------------------
Inter- Inter-
From To val val Copper Gold Silver
Hole ID Target Area (m) (m) (m) (ft) (%) (g/t) (g/t)
--------------------------------------------------------------------------
08SWC-326 Ridgetop East 18.0 31.0 13.0 42.7 1.49 0.08 2.0
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Including 24.3 31.0 6.7 22.0 2.48 0.11 3.3
--------------------------------------------------------------------------
08SWC-330 Ridgetop East 41.0 92.5 51.5 169.0 0.87 0.22 1.7
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Including 41.0 46.9 5.9 19.4 1.91 0.05 1.3
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08SWC-340 Ridgetop East 68.9 113.8 44.9 147.3 1.12 0.30 2.5
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Including 68.9 82.0 13.1 43.0 1.92 0.07 4.1
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08SWC-342 Ridgetop East 72.4 118.5 46.1 151.2 1.09 0.25 2.2
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Including 100.5 118.5 18.0 59.1 1.74 0.62 4.1
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Including 100.5 110.1 9.6 31.5 2.58 0.98 6.2
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"Exploration at the Minto Mine continues to deliver excellent results," said
Stephen Quin, President & CEO of Sherwood Copper and Minto Explorations Ltd.
"The 2008 drilling is expanding the Ridgetop mineralization to the east where it
appears to remain open, with significant thicknesses of good grade copper-gold
mineralization," he said. "The mineralization at Ridgetop is both thick and near
surface (coming to surface on its western edge) suggesting significant potential
for large volumes of good grade, low strip ratio copper mineralization."
2008 Drill Program
The 2008 drill program is complete, with 120 holes drilled for a total of 23,840
metres, accomplishing the primary objective of expanding the known resources at
Area 2, Area 118 and Ridgetop deposits and increasing the confidence in those
resources in support of a pre-feasibility study planned for completion by
mid-2009 that targets conversion of resources identified and defined in 2007 and
2008 to reserves and further increases in mill throughput.
Copper and gold assay results have been received for only 68 of 118 holes (2
holes were abandoned); results for 17 of which are reported herein. Exploration
personnel are now focused on completing new resource estimates for each deposit,
the results of which are expected to be released early in 2009. These new
estimates will provide the basis for the updated pre-feasibility study discussed
above.
Please follow the link below to a map identifying the priority exploration areas
for 2008.
www.sherwoodcopper.com/i/pdf/2008-09-18PriorityExplorationCorridor.pdf.
For current drill hole locations, please view the accompanying map:
(www.sherwoodcopper.com/i/pdf/2008-09-182008DHLocationMap.pdf).
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 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 Minto project site are carried
out under the supervision of Brad Mercer, P. Geol., V.P. Exploration for
Sherwood.
The analytical method for copper and silver performed by SGS Laboratories under
a contract arrangement at the Minto Mine Site, Yukon includes digestion in aqua
regia followed by absorption spectroscopy. Gold is measured using fire assay
with atomic absorption spectroscopy; analysis is performed by SGS Laboratories
at Red Lake, Ontario. When visible gold is noted in drill core samples or
regular analytical 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. Blank and
standard samples are added to all sample shipments prior to submittal to the lab
for quality assurance and quality control. If more than two check samples assay
outside of expected ranges, the work order is re-assayed. After the completion
of planned drill programs, random check assays will be carried out by ALS Chemex
of North Vancouver, BC.
Assay intervals reported herein are drill core lengths unless otherwise stated.
Because the known deposits are 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, President & CEO
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.
2008 Drill Statistics - Minto Property
-----------------------------------------------------------------------
Holes Completed Status
-----------------------------------------------------------------------
Drill Area and 2008 2008 Assay Data Assay Data
Type of Hole Phase 1 Phase 2 Released (i) Pending
-----------------------------------------------------------------------
Exploration Holes
-----------------------------------------------------------------------
Airstrip SW 0 1 1 0
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Airstrip C. 0 0 0 0
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Area 2 0 14 14 0
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Area 118 0 31 22 9
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Area 118 SW 3 0 3 0
-----------------------------------------------------------------------
Regional Picture 0 3 0 3
-----------------------------------------------------------------------
Copper Keel 0 4 2 2
-----------------------------------------------------------------------
Gap 1 0 1 0
-----------------------------------------------------------------------
Minto Valley 13 0 13 0
-----------------------------------------------------------------------
Ridgetop 0 47 9 38
-----------------------------------------------------------------------
Ridgetop W 0 3 3 0
-----------------------------------------------------------------------
-----------------------------------------------
17 103 52
-----------------------------------------------------------------------
-----------------------------------------------------------------------
Summary
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# of Holes to Date 120
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# of Metres to Date 23,840
-----------------------------------------------------------------------
Details of Drill Results
To accompany Sherwood Copper News Release Dated September 18, 2008
--------------------------------------------------------------------------
Inter- Inter-
Hole ID From To val val Copper Gold Silver
& Target Comments (m) (m) (m) (ft) (%) (g/t) (g/t)
--------------------------------------------------------------------------
08SWC-270 - 320 Assays Previously Released
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-321 141.5 143.1 1.6 5.2 0.52 0.02 2.0
--------------------------------------------------------------------------
"Area 118" and 176.2 185.9 9.7 31.8 0.26 0.03 1.4
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-322 171.9 176.3 4.4 14.4 1.54 0.51 5.1
--------------------------------------------------------------------------
"Area 2 East" and 192.8 208.8 16.0 52.5 0.43 0.10 1.5
--------------------------------------------------------------------------
and 251.7 255.3 3.6 11.8 3.14 1.51 18.1
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including 252.7 254.9 2.2 7.2 4.87 2.38 28.0
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-323 and 76.3 95.0 18.7 61.4 0.57 0.17 3.1
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"Area 118" including 83.6 87.7 4.1 13.5 0.95 0.30 4.9
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--------------------------------------------------------------------------
08SWC-324 68.5 85.2 16.7 54.8 0.71 0.09 1.9
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"Area 118" including 69.7 82.8 13.1 43.0 0.82 0.10 2.3
--------------------------------------------------------------------------
and 144.9 149.8 4.9 16.1 0.59 0.09 1.5
--------------------------------------------------------------------------
and 200.7 203.5 2.8 9.2 1.26 0.29 5.2
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-325 9.3 18.0 8.7 28.5 0.74 0.04 1.9
--------------------------------------------------------------------------
"Ridgetop East" and 32.7 61.4 28.7 94.2 0.56 0.21 1.9
--------------------------------------------------------------------------
including 32.7 47.7 15.0 49.2 0.81 0.34 2.8
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-326 18.0 62.5 44.5 146.0 0.78 0.13 3.3
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"Ridgetop East" including 18.0 31.0 13.0 42.7 1.49 0.08 2.0
--------------------------------------------------------------------------
including 24.3 31.0 6.7 22.0 2.48 0.11 3.3
--------------------------------------------------------------------------
including 50.3 59.0 8.7 28.5 1.16 0.42 3.4
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-327 Assays Pending
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"Ridgetop East"
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-328 59.6 89.0 29.4 96.5 0.50 0.09 1.5
--------------------------------------------------------------------------
"Area 118" including 75.1 89.0 13.9 45.6 0.69 0.14 1.8
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and 194.9 203.8 8.9 29.2 1.11 0.33 6.3
--------------------------------------------------------------------------
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08SWC-329 43.0 56.6 13.6 44.6 1.05 0.05 1.5
--------------------------------------------------------------------------
"Ridgetop East" including 50.2 54.6 4.4 14.4 1.46 0.05 2.1
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-330 41.0 92.5 51.5 169.0 0.87 0.22 1.7
--------------------------------------------------------------------------
"Ridgetop East" including 41.0 46.9 5.9 19.4 1.91 0.05 1.3
--------------------------------------------------------------------------
including 41.0 50.4 9.4 30.8 1.48 0.05 1.0
--------------------------------------------------------------------------
and 70.3 92.5 22.2 72.8 1.28 0.48 3.0
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-331 to 334 Assays Pending
--------------------------------------------------------------------------
"Ridgetop East"
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--------------------------------------------------------------------------
08SWC-335 Geochemically Anomalous - No Significant Intersections
--------------------------------------------------------------------------
"Ridgetop East"
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--------------------------------------------------------------------------
08SWC-336 27.6 31.4 3.8 12.5 1.42 1.07 3.8
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"Ridgetop West" and 101.3 110.9 9.6 31.5 1.06 0.35 2.5
--------------------------------------------------------------------------
including 101.3 104.4 3.1 10.2 2.04 0.74 5.1
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-337 to 338 Assays Pending
--------------------------------------------------------------------------
"Ridgetop East"
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-339 Geochemically Anomalous - No Significant Intersections
--------------------------------------------------------------------------
--------------------------------------------------------------------------
"Ridgetop West"
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-340 68.9 113.8 44.9 147.3 1.12 0.30 2.5
--------------------------------------------------------------------------
"Ridgetop East" including 68.9 82.0 13.1 43.0 1.92 0.07 4.1
--------------------------------------------------------------------------
including 68.9 77.7 8.8 28.9 2.30 0.07 5.7
--------------------------------------------------------------------------
and 98.6 113.8 15.2 49.9 1.61 0.83 3.8
--------------------------------------------------------------------------
including 98.6 104.3 5.7 18.7 2.85 1.70 6.9
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-341 Geochemically Anomalous - No Significant Intersections
--------------------------------------------------------------------------
--------------------------------------------------------------------------
"Ridgetop Central"
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--------------------------------------------------------------------------
08SWC-342 72.4 118.5 46.1 151.2 1.09 0.25 2.2
--------------------------------------------------------------------------
"Ridgetop East" including 74.3 86.5 12.2 40.0 1.39 0.03 2.0
--------------------------------------------------------------------------
and 100.5 118.5 18.0 59.1 1.74 0.62 4.1
--------------------------------------------------------------------------
including 100.5 110.1 9.6 31.5 2.58 0.98 6.2
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-343 Assays Pending
--------------------------------------------------------------------------
"Ridgetop East"
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-344 34.8 38.7 3.9 12.8 1.03 0.09 0.8
--------------------------------------------------------------------------
"Ridgetop West"
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-345 to 346 Assays Pending
--------------------------------------------------------------------------
"Ridgetop East"
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-347 24.8 112.5 87.7 287.7 0.34 0.10 0.8
--------------------------------------------------------------------------
"Ridgetop East" including 24.8 28.2 3.4 11.2 0.99 0.30 0.3
--------------------------------------------------------------------------
including 47.1 48.5 1.4 4.6 2.18 0.06 4.2
--------------------------------------------------------------------------
including 67.2 77.8 10.6 34.8 0.98 0.35 2.5
--------------------------------------------------------------------------
including 67.2 72.2 5.0 16.4 1.23 0.52 3.2
--------------------------------------------------------------------------
including 105.2 112.5 7.3 24.0 0.91 0.24 2.5
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08SWC-348 to 08SWC-385 are all awaiting assay results
--------------------------------------------------------------------------
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