Sherwood Copper Corporation
TSX VENTURE : SWC

Sherwood Copper Corporation

December 03, 2007 07:00 ET

Sherwood Intersects High Grade Copper-Gold Mineralization at Ridgetop & Area 118, Minto Mine

0.75% Cu over 88m including 2.0% Cu over 13.7m at Ridgetop; 3.7% Cu & 1.3 g/t Au over 8.4m at Area 118

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2007) - Sherwood Copper Corporation (TSX VENTURE:SWC) today announced results for an additional 12 holes from its 102 hole 2007 drill program recently completed at the high grade Minto copper-gold mine in the Yukon. Highlights from the latest batch of results received include further confirmation of an emerging higher grade core at Area 118 and an exceptionally thick, near surface intersection from the Ridgetop East prospect. Highlights of the results are tabulated below, while complete results for the latest 12 holes are attached.



--------------------------------------------------------------------------
Inter- Inter- Inter-
val From To val val Copper Gold Silver
Hole ID Target ID (m) (m) (m) (ft) (%) (g/t) (g/t)
--------------------------------------------------------------------------
07SWC-222 Area 118 17.7 23.0 5.3 17.4 2.51 0.60 6.1
--------------------------------------------------------------------------
07SWC-230 Area 118 118M 183.0 194.3 11.3 37.1 2.86 1.07 8.1
--------------------------------------------------------------------------
including 185.9 194.3 8.4 27.6 3.68 1.34 10.5
--------------------------------------------------------------------------
07SWC-231 Airstrip 181.1 189.6 8.5 27.9 1.50 0.07 0.6
--------------------------------------------------------------------------
including 181.1 185.1 4.0 13.1 2.65 0.11 0.9
--------------------------------------------------------------------------
07SWC-238 Area 118 118M 233.2 238.8 5.6 18.4 2.05 1.12 10.3
--------------------------------------------------------------------------
07SWC-254 Ridgetop 27.2 116.0 88.8 291.3 0.75 0.15 2.0
--------------------------------------------------------------------------
including 29.9 43.6 13.7 44.9 2.04 0.07 1.2
--------------------------------------------------------------------------
and 102.7 116.0 13.3 43.6 1.11 0.46 7.0
--------------------------------------------------------------------------


"The exploration potential at the high grade Minto copper-gold mine continues to expand," said Stephen Quin, President & CEO. "I am particularly encouraged by the near surface, exceptionally thick intersection from Ridgetop and yet another high grade intersection from Area 118. The near surface aspect of Ridgetop is what attracted us to drill it in 2007; any resource in this area could potentially have a very low strip ratio," he added. "The development of a high grade core in Area 118 is also very encouraging. These areas have the potential to provide additional resources beyond what is currently being scoped out in the independent pre-feasibility study that incorporates the Area 2 deposit discovered and defined in 2006."

Sherwood anticipates reporting the remainder of the 2007 drill results by year-end or in very early 2008, as they become available. The information will be used to complete new NI 43-101 compliant mineral resource estimates and lay out the priorities for a significant 2008 exploration program to follow up on the exciting 2007 discoveries.

2007 Drill Program

At 23,618 metres of drilling, the 102-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 68 holes have now been released and those for a 34 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 92 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 the following link: http://www.ccnmatthews.com/docs/SWC_PEC.jpg

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

This release includes assay results for exploration holes at Area 118 (5 holes), Airstrip SW (3 holes) and Ridgetop East (4 holes). For a current drill hole location, please view the accompanying map:

http://www.ccnmatthews.com/docs/SWC_Drill.jpg

Minto Project

The Minto Mine is 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

--------------------------------------------------------------------------
Phase I Phase II Total Status
--------------------------------------------------------------------------
Drill Area and Assay Data Assay Data
Type of Hole Feb - April May - Oct 2007 Released Pending
--------------------------------------------------------------------------
Exploration Holes
--------------------------------------------------------------------------
Airstrip SW 0 11 11 8 3
--------------------------------------------------------------------------
Airstrip C. 0 2 2 0 2
--------------------------------------------------------------------------
Area 2 0 8 8 8 0
--------------------------------------------------------------------------
Area 118 0 29 29 20 9
--------------------------------------------------------------------------
Copper Keel S. 0 4 4 1 3
--------------------------------------------------------------------------
Gap 6 0 6 6 0
--------------------------------------------------------------------------
IROD 0 4 4 4 0
--------------------------------------------------------------------------
Ridgetop E 0 25 25 11 14
--------------------------------------------------------------------------
Ridgetop W 0 3 3 0 3
--------------------------------------------------------------------------
-------------------------------------------------------
6 86 92 58 34
--------------------------------------------------------------------------
Geotech / Met Holes
--------------------------------------------------------------------------
Area 2 5 5 5 0
--------------------------------------------------------------------------
Minto 5 5 5 0
--------------------------------------------------------------------------
-------------------------------------------------------
5 5 10 10 0
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Summary All Holes
--------------------------------------------------------------------------
# of Holes 10 92 102 68 34
--------------------------------------------------------------------------
# of Metres 2,701 20,917 23,618
--------------------------------------------------------------------------


Details of Drill Results
To accompany Sherwood Copper News Release Dated October 29, 2007

--------------------------------------------------------------------------
Inter- Inter-
Hole ID Interval From To val val Copper Gold Silver
& Target ID (m) (m) (m) (ft) (%) (g/t) (g/t)
--------------------------------------------------------------------------
07SWC-169 to 220 Holes 07SWC-169 To 07SWC-220 Previously Released
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-221 164.4 175.6 11.2 36.75 0.72 0.16 2.0
--------------------------------------------------------------------------
"Airstrip SW" Including 171.0 175.6 4.6 15.1 0.99 0.21 2.6
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-222 17.7 23.0 5.3 17.4 2.51 0.60 6.1
--------------------------------------------------------------------------
"Area 118" 128.1 131.7 3.6 11.8 0.97 0.04 1.5
--------------------------------------------------------------------------
146.3 152.5 6.2 20.3 1.00 0.28 3.2
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-223 Holes 07SWC-223 Previously Released
--------------------------------------------------------------------------
"Airstrip SW"
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-224 25.7 28.5 2.8 9.2 0.79 0.36 3.8
--------------------------------------------------------------------------
"Area 118" 137.5 140.1 2.6 8.5 0.64 0.16 2.5
--------------------------------------------------------------------------
179.5 181.4 1.9 6.2 1.29 0.53 3.1
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-225 to 226 Holes 07SWC-225 To 07SWC-226 Previously Released
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-227 219.3 230.0 10.7 35.1 0.81 0.06 1.0
--------------------------------------------------------------------------
"Airstrip SW"
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-228 46.6 56.6 10.0 32.8 0.43 0.01 0.4
--------------------------------------------------------------------------
"Area 118" 106.3 130.0 23.7 77.8 0.50 0.05 1.3
--------------------------------------------------------------------------
140.1 146.5 6.4 21.0 0.42 0.09 1.5
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-229 ASSAYS PENDING
--------------------------------------------------------------------------
"Airstrip SW"
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-230 183.0 194.3 11.3 37.1 2.86 1.07 8.1
--------------------------------------------------------------------------
"Area 118" including 185.9 194.3 8.4 27.6 3.68 1.34 10.5
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-231 181.1 189.6 8.5 27.9 1.50 0.07 0.6
--------------------------------------------------------------------------
"Airstrip SW" including 181.1 185.1 4.0 13.1 2.65 0.11 0.9
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-232 to 237 ASSAYS PENDING
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-238 4.8 8.5 3.7 12.1 3.04 0.14 1.9
--------------------------------------------------------------------------
"Area 118" 45.7 40.4 3.7 12.1 0.75 0.14 1.2
--------------------------------------------------------------------------
158.0 164.4 6.4 21.0 0.43 0.01 0.6
--------------------------------------------------------------------------
187.0 188.0 1.0 3.1 2.24 1.23 13.1
--------------------------------------------------------------------------
233.2 238.8 5.6 18.4 2.05 1.12 10.3
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-239 to 245 ASSAYS PENDING
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-246 2.8 33.2 30.4 99.7 0.39 0.05 1.2
--------------------------------------------------------------------------
"East Ridgetop" including 2.8 7.8 5.0 16.4 0.5 0.04 0.6
--------------------------------------------------------------------------
and 17.7 17.2 1.5 4.92 1.2 0.70 3.3
--------------------------------------------------------------------------
and 22.6 33.2 10.6 34.8 0.58 0.1 2.3
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-247 3.0 31.9 28.9 94.8 0.37 0.07 1.4
--------------------------------------------------------------------------
"East Ridgetop" including 3.0 7.8 4.8 15.7 0.55 0.05 1.8
--------------------------------------------------------------------------
and 22.5 31.9 9.4 30.8 0.57 0.16 2.7
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-248 ASSAYS PENDING
--------------------------------------------------------------------------
"East Ridgetop"
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-249 Geochemically anomalous - no significant intersections
--------------------------------------------------------------------------
"East Ridgetop"
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-250 to 253 ASSAYS PENDING
--------------------------------------------------------------------------

--------------------------------------------------------------------------
07SWC-254 27.2 116.0 88.8 291.3 0.75 0.15 2.0
--------------------------------------------------------------------------
"East Ridgetop" including 29.9 43.6 13.7 44.9 2.04 0.07 1.2
--------------------------------------------------------------------------
and 102.7 116.0 13.3 43.6 1.11 0.46 7.0
--------------------------------------------------------------------------


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