A
NORTHAIR GROUP COMPANY
SUITE
860
- 625
HOWE STREET Ÿ
VANCOUVER, BC Ÿ
V6C 2T6 CANADA Ÿ TEL:
(604) 687-7545 FAX: (604) 689-5041
PRESS
RELEASE
FOR IMMEDIATE
RELEASE
September 25, 2007
#07-27
Sherwood Receives
Encouraging Results From 2007 Gradient IP Geophysical
Survey
- Extensive Anomaly Coincides with recent
discovery of High Grade Copper-Gold near Airstrip at Minto Mine
-
VANCOUVER, BRITISH COLUMBIA -
Sherwood Copper Corporation (SWC: TSX-V)
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.
http://www.sherwoodcopper.com/i/pdf/Gradient-Array-IP-Survery-Map-Sept07.pdf
http://www.sherwoodcopper.com/i/pdf/Gradient-Array-IP-Sept07.pdf
http://www.sherwoodcopper.com/i/pdf/Gradient-Array-IP-Color-Bar-Sept07.pdf
http://www.sherwoodcopper.com/i/pdf/07Phase2DHLocationMap.pdf
Minto Project
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
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.
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?
Stephen P. Quin
President &
CEO
For further information
please contact Stephen Quin,
President of Sherwood Copper Corp.
or Brad Kopp or Kristy
Reynolds at (604) 687-7545 or (888) 338-2200
**
INTERNET ADDRESS: www.sherwoodcopper.com **
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this press release. 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.