VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 25, 2007) - Sherwood Copper Corporation (TSX VENTURE:SWC)(TSX VENTURE:SWC.DB) today announced results for an extensive Gradient Array Induced Polarization (GAIP) survey on its wholly owned high grade Minto copper-gold mine property in the Yukon. The results of the survey include the definition of a large chargeability anomaly in an under-explored area that was previously thought to be of low prospectivity. The edge of this new anomaly correlates with recent drill discoveries of high grade copper-gold mineralization at Airstrip and Copper Keel, suggesting additional potential beyond the scope of recent drilling. Also of potential significance are several newly identified chargeability anomalies located north of the main Minto pit, indicating exploration potential north of the Minto Mine, in areas that have received only very cursory exploration drilling.
The 2007 GAIP survey was designed to expand on a 2006 GAIP survey after drilling at Area 2 and Area 118 showed a direct coincidence of significant copper sulphide mineralization and chargeability anomalies delineated in 2006. These results suggest that Sherwood has developed an additional exploration tool to help in prioritizing exploration targets. The focus of the 2007 geophysical program was two-fold: firstly to evaluate areas south of the main Minto deposit, expanding coverage to areas of known prospectivity not covered in 2006 and, secondly, to begin evaluating areas north of the Minto mine, where there are multiple coincident copper-in-soil and magnetic anomalies but very little drilling. After positive drill results were obtained from drilling on the Airstrip-Copper Keel prospects in 2007, the GAIP survey was further expanded to encompass and evaluate these areas more fully and previously unexplored areas to the south.
"The recent geophysical survey results from Minto are encouraging and indicate exploration potential in areas previously thought to have limited prospectivity," said Stephen Quin, President & CEO. "These geophysical results compliment the recent announced discovery of a new style of copper-gold mineralization in the Airstrip-Copper Keel area, coincident with the edge of the largest of the newly defined geophysical anomalies, and dominated by chalcocite as opposed to the more typical bornite-chalcopyrite copper mineralization found in the main Minto and Area 2 deposits. Our exploration team is confident that GAIP will prove to be another valuable technique in our exploration toolbox, improving the success rate of our exploration drilling and offering potential for more discoveries beyond those already announced in 2007."
2007 Gradient IP Program
As announced March 5, 2007, core drilling was the major component of the 2007 exploration program. The second component was to increase the coverage of the GAIP survey at Minto. A total of 138 line kilometres of GAIP surveys were completed in 2007, a four-fold increase over the 33km completed in the 2006 program, bringing the total GAIP kilometres surveyed by Sherwood to 171km, encompassing an area of approximately 10 square km. The 2007 survey was completed on 10 separate blocks that overlap with adjacent blocks to provide seamless coverage. Both years, the GAIP survey was conducted by Aurora Geosciences of Yellowknife NT.
The survey coverage and chargeability results can be viewed by following the links located below. For ease of reference, highlights of targets and drill holes discussed in recent news releases are shown on an identical scale map accompanying this release. Note the coincidence of strong chargeability anomalies associated with the Area 2 deposit, as well as the Area 118 and Ridgetop East prospects where an extensive drill program is still in progress. In addition to the major extension of the Airstrip SW chargeability anomaly mentioned above, other obvious chargeability anomalies of potential significance are the strong east-west linear feature located approximately 600 metres north of the Minto pit and the very large horseshoe shaped anomaly to the northeast of the main Minto open pit, immediately north of the all weather access road. Both of these chargeability anomalies are associated with strong magnetic anomalies and elevated copper-in-soil geochemistry, and are, therefore, high priority drill targets for future exploration programs. The east - west gap in coverage running from the Minto Mine to the eastern property boundary cannot be surveyed because of conflicts with existing infrastructure and production related activities.
Based upon positive correlation of drill results at targets such as 'Area 2', 'Ridgetop', 'Area 118' and 'Airstrip' (see news releases dated July 17 and September 19, 2007) showing that copper-gold mineralization is partially or fully coincident with GAIP chargeability anomalies, Sherwood plans future drill testing of the new anomalies generated in 2007.
To view attached Gradient Array IP Survey Map please click on the following link: http://www.ccnmatthews.com/docs/swc0925a.JPG
To view attached Gradient Array IP Chargeability Map please click on the following link: http://www.ccnmatthews.com/docs/swc0925b.JPG
To view attached Gradient Array IP Chargeability colour bar please click on the following link: http://www.ccnmatthews.com/docs/swc0925c.JPG
To view attached 2007 Drill Hole Location Map please click on the following link: http://www.ccnmatthews.com/docs/swc0925d.JPG
The Minto Project is a high-grade copper-gold deposit located in the Yukon Territory of Canada. Mine development is complete, first concentrates were produced at the end of May, 2007, and regular shipments of copper-gold concentrates from the Minto Mine to the port of Skagway, Alaska began in mid-July, 2007. Commissioning and production ramp up is well underway and full production is anticipated around the end of the third quarter of 2007.
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.
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.
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.The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.