Sherwood Copper Corporation

Sherwood Copper Corporation

October 11, 2005 09:00 ET

Sherwood Intercepts Outstanding Copper & Gold Grades at Minto Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 11, 2005) -

Intercepts include 6.9% Copper over 24.6m including 10.0% Copper over 14.8m

Sherwood Copper Corporation (TSX VENTURE:SWC) is pleased to announce very high grades from its continuing resource confirmation and expansion drill program currently underway at the 100% owned, high-grade Minto copper-gold project in the Yukon. Highlights of these 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-026 Confirmation 64.0 88.6 24.6 80.6 6.9 1.7 25.2
including 66.5 81.3 14.8 48.6 10.0 2.0 35.2

05SWC-027 Confirmation 63.4 89.9 26.5 87.0 2.5 1.5 12.7
including 63.4 80.0 16.6 54.4 3.4 1.9 17.7
including 63.4 69.5 6.1 19.9 5.1 1.9 32.3

"These results are very encouraging: hole 05-SWC-026 tested a sparsely drilled portion of the deposit and the copper grade is more than three times that expected from the surrounding holes," said Stephen Quin, President & CEO of Sherwood. "The results from this drill hole and 05SWC-027, along with the others already announced, demonstrate potential for resource additions both within and outside of the previously estimated resource. Results also continue to support a trend seen in all drilling since 1993: consistently much higher than expected gold grades."

2005 Drill Program

The 2005 drill program was designed with three objectives: (1) to independently confirm the existing resource, (2) to upgrade 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 5,600m of drilling has been completed to date. Assays for approximately 14 completed holes are pending and approximately 4 more holes will be drilled prior to completion of the 2005 program. Eight geotechnical holes are also being drilled to assist in pit optimization work, some of which may also intersect mineralization even though their primary purpose is characterizing rock quality in the pit walls.

Confirmation drill holes are drilled within the resource limits as part of the first objective noted above. Mineralized intervals are generally comparable to those anticipated from adjacent older holes with the exception of gold, which continues to return significantly higher values than indicated by prior drilling. Step out holes are drilled on the margins of the previously estimated resource. Confidence upgrade holes are drilled in sparsely drilled areas to better define resources for mining.

Holes 05-SWC-18, -19, -20 and -25 intersected similar mineralization to that expected, while holes 05-SWC-21, -24, -26 and -27 intersected much higher grades over approximately the expected thickness, with hole 05-SWC-26 being more than three times the grade predicted, based on two adjacent holes in this sparsely drilled area, with high grade bornite and chalcopyrite mineralization which is locally massive.

Some of the narrower intercepts, above the main mineralized zone, exhibit varying degrees of oxidation, which is typical of historic intercepts in the Minto deposit. This mineralization was not quantified by past operators and is not included in current resource estimates.

To view the Minto Project Drill Hole Location Map, please click the following link:

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 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



"Per Stephen P. Quin"

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 #05-19

Inter- Inter- Cop- Sil-
Hole ID Hole Type From To val val per Gold ver
--------- ------------ ---- --- ----- ----- --- ----- ----
(m) (m) (m) (feet) (%) (g/t) (g/t)
---- --- ----- ----- --- ----- ----
05SWC-019 Step-out 37.6 40.6 3.0 9.8 0.5 0.1 0.8

05SWC-019 Confirmation 76.1 96.2 20.1 65.9 1.5 0.9 5.1

05SWC-020 Confirmation 72.8 89.1 16.3 53.5 1.7 0.8 6.5
including 81.0 89.1 8.1 26.5 2.4 1.1 9.8

05SWC-021 Confirmation 69.7 95.0 25.3 82.9 1.4 0.8 4.2

05SWC-022 Step-out 71.7 93.3 23.2 76.1 0.3 0.1 1.5
including 88.0 94.9 6.9 22.6 0.5 0.2 3.0

05SWC-023 Abandoned in overburden

05SWC-024 Confirmation 59.1 77.0 17.9 58.9 1.3 2.2 8.5

05SWC-025 Step-out 55.0 72.8 17.8 58.3 1.8 0.6 5.9
including 67.5 72.8 5.3 17.3 2.4 0.7 5.3

05SWC-026 Confidence 64.0 88.6 24.6 80.6 6.9 1.7 25.2
including Upgrade 66.5 81.3 14.8 48.6 10.0 2.0 35.2

05SWC-027 Confidence 63.4 89.9 26.5 87.0 2.5 1.5 12.7
including Upgrade 63.4 80.0 16.6 54.4 3.4 1.9 17.7
including 63.4 69.5 6.1 19.9 5.1 1.9 32.3

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