Sherwood Copper Corporation

Sherwood Copper Corporation

November 01, 2005 09:00 ET

Sherwood Expands Copper & Gold Mineralization at Minto Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 1, 2005) -

Intercepts of 2.6% Copper & 1.1g/t Gold over 14.6m in Hole 29 and 5.9% Copper
& 1.0g/t Gold over 9.6m in Hole 30 Will Add to High Grade Resource

Sherwood Copper Corporation (TSX VENTURE:SWC) is pleased to announce very high grades from its recently completed resource confirmation and expansion drill program carried out at the 100% owned, high-grade Minto copper-gold project in the Yukon. Highlights of the latest results are provided below and full results for these recently completed holes are attached.

Inter- Inter- Cop- Sil-
Hole ID Hole Type From To val val per Gold ver
--------- ---------- ---- ---- ----- ----- --- ---- ----
(m) (m) (m) (feet) (%) (g/t) (g/t)
---- ---- ----- ----- --- ---- ----
05SWC-029 Step-out 63.1 77.7 14.6 48.0 2.6 1.1 9.9
05SWC-030 Step-out 73.5 83.1 9.6 31.6 3.9 0.8 11.1
Including 75.2 80.4 5.2 17.2 5.9 1.0 16.1
05SWC-036 Confidence 29.6 52.0 22.4 73.6 1.0 0.4 3.6
Including 40.0 50.5 10.5 34.4 1.4 0.6 5.6

"These results further expand the high grade Minto copper-gold deposit to the south and southeast, beyond the limits of prior drilling," said Stephen Quin, President & CEO of Sherwood. "The combination of high grade intercepts outside the limits of prior drilling, upgrading inferred resources within the prior pit limits and generally much higher gold grades than prior drilling suggests great potential for an improved resource at Minto, and we have not even touched the other exploration targets as yet."

2005 Drill Program

The 2005 drill program was designed with three objectives: (1) to independently confirm the existing resource, (2) to upgrade most of the approximately 8% of inferred resource within the proposed pit boundaries to the indicated category and (3) to expand the overall resource on the margin of the existing resource. Approximately 6,772m of drilling were completed in 2005 in 57 drill holes. Assays for approximately 9 holes are pending including 05SWC-037. Included in the total number of holes drilled are nine geotechnical holes drilled to assist in pit optimization work, some of which intersected mineralization even though their primary purpose is characterizing rock quality in the proposed pit walls.

Holes 05SWC-28, -29, -30, -31, -32, -33, and -35 are all step-out holes and encountered mineralization to the south and southeast, beyond the limits of prior drilling. All of these holes represent 15m to 30m step-outs from the nearest historic hole and should incrementally add to the previously estimated resource. Holes 05SWC-34, -36 and -38 are delineation holes designed to upgrade the confidence in the mineralization in sparsely drilled areas to better define resources for mining. Values lower than the average resource grade were expected near the margin of the deposit, although hole 05SWC-34 intercepted lower grades than expected whereas almost all other holes completed in 2005 exceeded expectations. Overall, gold grades still continue to be significantly higher than indicated by prior drilling, when comparing 2005 intercepts with adjacent 1973 and 1974 drill intercepts.

Some of the shallower intercepts, above the main mineralized zone and, to a minor degree, in the main mineralized zone south of the creek, exhibit varying degrees of oxidation, which is typical of historic intercepts in the Minto deposit.

Minto Project

The Minto Project is a high-grade copper-gold deposit located in the Yukon Territory of Canada. In the late 1990's, a feasibility study was completed by prior owners, permits obtained and construction of an open pit mine commenced. Construction was suspended after expenditures of approximately $10 million, due to depressed copper prices. During that period, the mill foundations were poured, the ball and SAG mills purchased and moved to site, the mine accommodations constructed and the site was connected to a permitted Yukon River crossing by a 29km production standard access road. All of this infrastructure has been well maintained and would be available for future operations. The Type A and Type B Water Licences were recently renewed and permit a resumption of construction once a production decision has been made.

As announced June 27, 2005, prior to the 2005 drill program, the Minto Project contained measured and indicated resources of 9.2 million tons at a grade of 1.8% copper, 0.016oz/t gold and 0.2oz/t silver, and an additional inferred resource of 0.8 million tons grading 1.4% copper, 0.013oz/t gold and 0.2oz/t silver. The mineral resources for the Minto Project were estimated by Giroux Consulting. Gary Giroux, P.Eng. is the Qualified Person under National Instrument 43-101 responsible for the estimate.


Sherwood's successful consolidation of the ownership of the Minto Project provides a unique investment opportunity - participation in an already permitted, partially constructed, high-grade, open pit copper-gold project located in Canada with infrastructure and 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. Geo., 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 a gravimetric finish for gold and silver carried out by ALS Chemex in North Vancouver. Blank and standard samples are used for quality assurance and quality control, and all check samples were within expected ranges. Check assays are carried out by Acme Analytical of Vancouver.

Assay intervals reported are drill core lengths. Because the deposit is essentially flat lying and all drill holes reported to date are vertical, true widths are expected to be the same as reported core lengths.

Additional Information

Additional information on Sherwood and its Minto Project can be obtained on Sherwood's website at



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.

Sherwood Copper Corporation
Table of Results to Accompany News Release #05-21

Inter- Inter- Cop- Sil-
Hole ID Hole Type From To val val per Gold ver
--------- ---------- ---- ---- ----- ----- --- ---- ----
(m) (m) (m) (feet) (%) (g/t) (g/t)
---- ---- ----- ----- --- ---- ----
05SWC-028 Step-out 71.5 87.6 16.1 53.0 1.1 0.5 3.7
05SWC-029 Upgrade 63.1 77.7 14.6 48.0 2.6 1.1 9.9
05SWC-030 Step-out 73.5 83.1 9.6 31.6 3.9 0.8 11.1
including 75.2 80.4 5.2 17.2 5.9 1.0 16.1
05SWC-031 Step-out 72.0 81.0 9.0 29.4 1.3 0.5 4.5
05SWC-032 Step-out 67.7 75.3 7.6 25.0 1.3 0.6 4.6
05SWC-033 Step-out 56.9 64.5 7.6 24.8 0.5 0.0 0.6
05SWC-034 Upgrade 60.4 77.5 17.2 56.3 1.4 1.0 6.0
Including 66.0 76.0 10.0 32.8 1.7 1.3 7.3
05SWC-035 Step-out 70.8 85.7 15.0 49.0 0.7 0.4 4.3
including 80.5 85.0 4.5 14.8 1.3 0.8 8.7
05SWC-036 Step-out 29.6 52.0 22.4 73.6 1.0 0.4 3.6
including 40.0 50.5 10.5 34.4 1.4 0.6 5.6
05SWC-038 Upgrade 80.4 85.0 4.6 15.0 0.9 0.7 5.4

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
    (604) 687-7545 or 1-888-338-2200
    Sherwood Copper Corporation
    Investor Relations
    (604) 687-7545 or 1-888-338-2200