Sherwood Copper Corporation
TSX VENTURE : SWC
TSX VENTURE : SWC.DB

Sherwood Copper Corporation

January 14, 2008 07:01 ET

Sherwood Intersects High Grade Copper-Gold Mineralization at Area 118 and Copper Keel, Minto Mine

4.2% Cu over 5.1m at Area 118-Area 2 junction and 3.1% Cu over 4.1m at Copper Keel S.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2008) - Sherwood Copper Corporation (TSX VENTURE:SWC)(TSX VENTURE:SWC.DB) today announced results for an additional 25 holes from its 101 hole drill program completed in the fall of 2007 at the high grade Minto copper-gold mine in the Yukon. Highlights from the latest batch of results include further confirmation of high grade copper-gold mineralization where the Area 118 and Area 2 deposits join, further high grades from the Copper Keel South prospect, and near surface mineralization at the Ridgetop East and Ridgetop West prospects. Highlights of these recent results are tabulated below, while complete results for the latest 25 holes are attached.



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Inter- Inter-
Inter- From To val val Copper Gold Silver
Hole ID Target val (m) (m) (m) (ft) (%) (g/t) (g/t)
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07SWC-263 Area 118 118M 230.3 240.4 10.1 33.1 2.45 0.96 9.5
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including 230.7 235.8 5.1 16.7 4.19 1.57 15.3
--------------------------------------------------------------------------
07SWC-243 Copper K. CK 68.2 72.3 4.1 13.5 3.10 2.27 20.0
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07SWC-241 Copper K. CK 88.2 90.3 2.1 6.9 2.84 1.79 16.7
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07SWC-248 Ridgetop E 1.7 27.6 25.9 85.0 0.57 0.06 1.3
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including 1.7 6.2 4.5 14.8 2.06 0.09 3.6
--------------------------------------------------------------------------
07SWC-252 Ridgetop W 8.0 31.4 23.4 76.8 0.64 0.65 4.1
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including 27.2 31.4 4.2 13.8 1.93 1.21 6.1
--------------------------------------------------------------------------


"Sherwood's successful 2007 exploration program continues to deliver high grades from a variety of targets," said Stephen Quin, Sherwood's President & CEO. "Especially encouraging are the high grade results on the northeast side of Area 118, where it joins the Area 2 deposit, indicating potential for a contiguous zone of higher grade mineralization." A recently completed positive Pre-feasibility Study (PFS) on Area 2 did not incorporate any of the very positive drill intersections from 2007. The discovery of Area 118, immediately adjacent to Area 2, is very exciting since it offers further potential beyond that set out in the PFS.

"Beyond Area 118, Sherwood's exploration crew also discovered near surface, high grade mineralization at Copper Keel, and identified shallowly buried mineralization at Ridgetop West and Ridgetop East," said Mr. Quin. "Each of these areas has the potential to provide additional near surface resources beyond those considered in the recently released pre-feasibility study."

Sherwood anticipates reporting the remaining assays from the 2007 drill program near the end of January, 2008. Geology models for new NI 43-101 compliant mineral resource estimates are currently under construction and planning for a significant 2008 exploration program has already begun.

2007 Drill Program

At 23,292 metres of drilling, the 101-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 92 holes have now been released and those for 9 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 91 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:

To view the Priority Exploration Corridor map please click on: http://www.ccnmatthews.com/docs/swc0114a.jpg

To view the Gradient Array IP Chargeability map please click on: http://www.ccnmatthews.com/docs/swc0114b.jpg

This release includes assay results for exploration holes at Airstrip Central (1 hole); Airstrip Southwest (3 holes); Area 118 (3 holes), Copper Keel South (3 holes); Ridgetop East (13 holes) and Ridgetop west (2 holes). For current drill hole locations, please view the accompanying map:

To view the Drill Hole Location map please click on: http://www.ccnmatthews.com/docs/swc0114c.jpg

Minto Project

The Minto project encompasses 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, President & CEO

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

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Phase I Phase II Total Status
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Drill Area and Type Assay Data Assay Data
of Hole Feb - April May - Oct 2007 Released Pending
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Exploration Holes
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Airstrip SW 0 11 11 11 0
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Airstrip C. 0 2 2 1 1
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Area 2 0 8 8 8 0
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Area 118 0 28 28 22 6
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Copper Keel S. 0 4 4 4 0
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Gap 6 0 6 6 0
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IROD 0 4 4 4 0
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Ridgetop E 0 25 25 24 1
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Ridgetop W 0 3 3 2 1
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------------------------------------------------------
6 85 91 82 9
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Geotech / Met Holes
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Area 2 5 5 5 0
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Minto 5 5 5 0
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------------------------------------------------------
5 5 10 10 0
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--------------------------------------------------------------------------
Summary All Holes
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# of Holes 11 90 101 92 9
--------------------------------------------------------------------------
# of Metres 2,701 20,917 23,292
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Details of Drill Results

To accompany Sherwood Copper News Release Dated January 14, 2008

------------------------------------------------------------------------
Inter- Inter- Cop-
Hole ID Interval From To val val per Gold Silver
& Target ID (m) (m) (m) (ft) % (g/t) (g/t)
------------------------------------------------------------------------
07SWC-169 to 228 Holes 07SWC-169 To 07SWC-228 Previously Released
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-229 156.9 164.7 7.8 25.6 0.62 0.25 2.1
------------------------------------------------------------------------
"Airstrip SW" 187.0 193.5 6.5 21.3 0.49 0.07 1.0
------------------------------------------------------------------------
203.5 209.7 6.2 20.3 1.12 0.63 6.2
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-230 to 231 Holes 07SWC-230 To 07SWC-231 Previously Released
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-232 38.4 41.6 3.2 10.5 0.72 0.06 1.7
------------------------------------------------------------------------
"Area 118" 93.5 134.4 40.9 134.2 0.39 0.07 1.2
------------------------------------------------------------------------
including 130.5 134.5 4.0 13.1 0.98 0.22 3.8
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-233 153.5 155.4 1.9 6.2 0.52 0.03 2.0
------------------------------------------------------------------------
"Airstrip SW"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-234 ASSAYS PENDING
------------------------------------------------------------------------
"Area 118"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-235 162.8 169.7 6.9 22.6 0.90 0.12 1.1
------------------------------------------------------------------------
"Airstrip SW"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-236 ASSAYS PENDING
------------------------------------------------------------------------
"Area 118"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-237 Geochemically anomalous - no significant intersections
------------------------------------------------------------------------
"Airstrip C"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-238 Hole 07SWC-238 Previously Released
------------------------------------------------------------------------
"Area 118"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-239 to 240 ASSAYS PENDING
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-241 88.2 90.3 2.1 6.9 2.84 1.79 16.7
------------------------------------------------------------------------
"Copper Keel S"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-242 Geochemically anomalous - no significant intersections
------------------------------------------------------------------------
"Copper Keel S"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-243 68.2 72.3 4.1 13.5 3.1 2.27 20.0
------------------------------------------------------------------------
"Copper Keel S"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-244 6.8 35.9 29.1 95.5 0.41 0.08 1.5
------------------------------------------------------------------------
"Ridgetop E" including 6.8 13.5 6.7 22.0 0.83 0.06 3.5
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-245 78.0 79.4 1.4 4.6 1.83 0.90 5.6
------------------------------------------------------------------------
"Ridgetop W"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-246 to 247 Holes 07SWC-246 To 07SWC-247 Previously Released
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-248 1.7 63.4 61.7 202.4 0.32 0.03 0.9
------------------------------------------------------------------------
"Ridgetop E" including 1.7 27.6 25.9 85.0 0.57 0.06 1.3
------------------------------------------------------------------------
including 1.7 6.2 4.5 14.8 2.06 0.09 3.6
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-249 Hole 07SWC-249 Previously Released
------------------------------------------------------------------------
"Ridgetop E"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-250 53.9 113.7 59.8 196.2 0.29 0.07 0.1
------------------------------------------------------------------------
"Ridgetop E" including 53.9 68.0 14.1 46.3 0.49 0.14 1.3
------------------------------------------------------------------------
including 53.9 58.0 4.1 13.5 0.78 0.23 4.0
------------------------------------------------------------------------
and 77.2 94.3 17.1 56.1 0.35 0.07 1.1
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-251 ASSAYS PENDING
------------------------------------------------------------------------
"Ridgetop E"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-252 8.0 31.4 23.4 76.8 0.64 0.65 4.1
------------------------------------------------------------------------
"Ridgetop W" including 27.2 31.4 4.2 13.8 1.93 1.21 6.1
------------------------------------------------------------------------
98.5 105.9 7.4 24.3 0.34 0.04 1.2
------------------------------------------------------------------------
128.9 133.4 4.5 14.8 0.39 0.03 1.1
------------------------------------------------------------------------
164.2 166.8 2.6 8.2 0.78 0.16 1.9
------------------------------------------------------------------------
215.8 220.0 4.2 13.8 0.68 0.05 1.1
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-253 22.0 40.6 18.6 61.0 0.37 0.11 1.2
------------------------------------------------------------------------
"Ridgetop E" including 22.0 27.2 5.2 17.1 0.64 0.15 1.6
------------------------------------------------------------------------
35.5 40.6 5.1 16.7 0.70 0.25 2.5
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-254 Hole 07SWC-254 Previously Released
------------------------------------------------------------------------
"Ridgetop E"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-255 21.3 23.2 1.9 5.9 1.31 0.32 2.8
------------------------------------------------------------------------
"Area 118" 239.0 249.8 10.8 35.4 0.78 0.27 2.2
------------------------------------------------------------------------
277.2 288.6 11.4 37.4 0.93 0.92 5.5
------------------------------------------------------------------------
including 285.4 288.6 3.2 10.5 1.89 1.00 11.9
------------------------------------------------------------------------
316.0 328.0 12.0 39.4 0.61 0.24 2.5
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-256 44.4 57.0 12.6 41.3 0.76 0.03 1.9
------------------------------------------------------------------------
"Ridgetop E" including 44.4 49.4 5.0 16.4 0.97 0.03 1.0
------------------------------------------------------------------------
80.9 119.7 38.8 127.3 0.55 0.16 1.2
------------------------------------------------------------------------
including 80.8 88.6 7.8 25.6 1.55 0.66 4.0
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-257 ASSAYS PENDING
------------------------------------------------------------------------
"Area 118"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-258 42.5 84.4 41.9 137.5 0.47 0.06 1.1
------------------------------------------------------------------------
"Ridgetop E" including 42.5 67.8 25.3 83.0 0.61 0.10 1.6
------------------------------------------------------------------------
including 58.9 64.6 5.7 18.7 1.34 0.34 3.9
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-259 ASSAYS PENDING
------------------------------------------------------------------------
"Area 118"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-260 Geochemically anomalous - no significant intersections
------------------------------------------------------------------------
"Ridgetop E"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-261 4.8 9.1 4.3 14.1 1.06 0.06 1.2
------------------------------------------------------------------------
"Ridgetop E" 50.9 56.7 5.8 19.0 0.40 0.05 0.9
------------------------------------------------------------------------
131.5 142.3 10.8 35.4 0.45 0.12 1.6
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-262 2.4 5.8 3.4 11.2 0.88 0.16 2.8
------------------------------------------------------------------------
"Ridgetop E"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-263 54.9 82.6 27.7 90.9 0.57 0.08 1.1
------------------------------------------------------------------------
"Area 118 - including 54.9 60.0 5.1 16.7 1.53 0.16 2.6
Area 2"
------------------------------------------------------------------------
Junction 181.0 183.7 2.7 8.9 1.83 1.50 7.1
------------------------------------------------------------------------
230.3 240.4 10.1 33.1 2.45 0.96 9.5
------------------------------------------------------------------------
including 230.7 235.8 5.1 16.7 4.19 1.57 15.3
------------------------------------------------------------------------
283.0 290.4 7.4 24.3 0.47 0.09 1.6
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-264 5.5 24.9 19.4 63.6 0.33 0.06 1.7
------------------------------------------------------------------------
"Ridgetop E" including 5.5 9.1 3.6 11.8 0.45 0.04 0.8
------------------------------------------------------------------------
19.2 24.9 5.7 18.7 0.59 0.15 4.5
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-265 2.2 37.9 35.7 117.1 0.45 0.03 0.8
------------------------------------------------------------------------
"Ridgetop E" including 2.2 17.9 15.7 51.5 0.59 0.05 1.2
------------------------------------------------------------------------
57.5 59.5 2.0 6.2 2.03 0.05 1.8
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-266 50.5 90.4 39.9 130.9 0.41 0.13 1.5
------------------------------------------------------------------------
"Ridgetop E" including 50.5 64.4 13.9 45.6 0.80 0.27 2.6
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-267 ASSAYS PENDING
------------------------------------------------------------------------
"Area 118"
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-268 22.2 24.8 2.6 8.5 1.02 0.05 2.6
------------------------------------------------------------------------
"Ridgetop E" 46.5 57.5 11.0 36.1 0.71 0.30 2.4
------------------------------------------------------------------------
86.2 91.1 4.9 16.1 0.74 0.26 2.6
------------------------------------------------------------------------

------------------------------------------------------------------------
07SWC-269 ASSAYS PENDING
------------------------------------------------------------------------
"Area 118"
------------------------------------------------------------------------

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Sherwood Copper Corporation
    Stephen Quin
    President
    (604) 687-7545 or Toll Free: 1-888-338-2200
    or
    Sherwood Copper Corporation
    Brad Kopp
    (604) 687-7545 or Toll Free: 1-888-338-2200
    or
    Sherwood Copper Corporation
    Kristy Reynolds
    (604) 687-7545 or Toll Free: 1-888-338-2200
    (604) 689-5041 (FAX)
    Website: www.sherwoodcopper.com