VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: SWC.DB) today
announced the first batch of high grade assay results from the 2008
drill program at the Kutcho Deposit located in northwestern BC. The
2008 drill program is designed to help advance the project towards
completion of a feasibility study. Highlights of the recent results
are tabulated below, while complete results for the first 13 holes
of the 2008 program are attached.
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From To Interval Interval Copper Zinc Gold Silver
Hole ID (m) (m) (m) (ft) (%) (%) (g/t) (g/t)
--------------------------------------------------------------------------
WK08-090 90.9 110.8 19.9 65.3 2.52 2.59 0.52 47.3
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including 92.4 97.3 4.9 16.1 3.79 2.07 1.13 95.4
--------------------------------------------------------------------------
and 99.2 107.8 8.6 28.2 2.87 3.54 0.43 42.2
--------------------------------------------------------------------------
WK08-091 101.9 127.4 25.5 83.7 1.92 2.46 0.30 30.8
--------------------------------------------------------------------------
including 112.8 123.0 10.2 33.5 2.60 3.94 0.33 38.1
--------------------------------------------------------------------------
WK08-092 84.7 103.8 19.1 62.7 1.47 2.56 0.22 20.4
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including 87.8 91.7 3.9 12.8 2.48 3.34 0.39 45.4
--------------------------------------------------------------------------
WK08-095 60.4 65.5 5.1 16.7 2.05 0.91 0.20 36.5
--------------------------------------------------------------------------
and 73.4 82.4 9.0 29.5 1.29 1.97 0.29 20.3
--------------------------------------------------------------------------
WK08-096 6.2 14.9 8.7 28.5 0.50 0.96 0.14 10.7
--------------------------------------------------------------------------
and 33.8 55.5 21.7 71.2 1.96 2.47 0.38 26.9
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including 33.8 36.1 2.3 7.5 4.91 3.49 1.92 96.9
--------------------------------------------------------------------------
and 45.1 49.6 4.5 14.8 3.23 1.04 0.28 38.0
--------------------------------------------------------------------------
WK08-105 118.9 138.5 19.6 64.3 2.13 4.22 0.40 30.6
--------------------------------------------------------------------------
including 120.8 124.1 3.3 10.8 4.68 4.15 0.79 60.9
--------------------------------------------------------------------------
"We continue to advance the Kutcho project towards a feasibility
study," said Stephen Quin, President & CEO of Sherwood Copper.
"These drill results are part of a multifaceted work program that
builds off the recommendations of the recently completed
preliminary economic assessment. These drill results help better
define the resource in the 'Main' deposit, and especially the
higher grade trends within that deposit, which should assist in
mine design. The intersection of such excellent thicknesses with
very good copper grades, plus significant zinc, silver and gold
by-products is very encouraging."
The 2008 drill program was undertaken in order to increase
confidence in the mineral resources that comprise the bulk of the
"Main" deposit, to infill gaps in the previous resource model, test
potential along open high grade trends within the Main deposit and
to provide ample sample material for an extensive metallurgical
program, all in support of advancing the Kutcho Project toward
completion of a feasibility study. The Main deposit is one of three
known mineral deposits comprising the Kutcho Project and is the one
focused on in the Preliminary Economic Assessment ("PEA"), the
results for which were announced on June 12, 2008. The PEA
identified a number of opportunities to significantly enhance the
project economics versus those set out in the PEA, with increased
resources within the production model and improved metallurgical
recoveries being two of the most significant. The current drill
program is therefore assisting in advancing both of these
opportunities to a resolution.
The metallurgical program is already underway at SGS Lakefield,
with initial testing utilizing previously drilled drill core. The
core generated from the 2008 drill program will be used for
continued testing in support of a feasibility study. The 2008
drilling, on-going metallurgical test work and other activities
will be instrumental in determining the best "fit for purpose" mill
design and milling capacity for the Kutcho Project.
Drill Program
To date in the 2008 drill program, 7,024 metres of drilling have
been completed in 61 holes. Full assay results have been received
for 13 holes, while final results are pending on the remaining 48
holes. The drill program is still in progress and is expected to be
completed near the end of July.
Diagrams
Kutcho Drill Program - Kutcho Long Section ("Looking North") -
http://media3.marketwire.com/docs/swc714map.JPG
Kutcho Copper Project
Sherwood, through its wholly owned subsidiary Kutcho Copper
Corp., aims to define and develop a robust high grade, open pit
copper mine at Kutcho. The previously announced PEA sets out a base
case for development at Kutcho, but outlined a number of
opportunities to materially enhance the merits of the project and
Sherwood is continuing its process of optimizing the Kutcho Project
based on these opportunities.
About Sherwood Copper
Sherwood Copper's objective is the profitable production of base
and precious metals from high grade, open pit mines in Canada.
Sherwood's first operating mine, the high grade Minto copper-gold
mine in Yukon, Canada, was built on budget and ahead of schedule.
The Minto Mine is one of the highest-grade open pit copper-gold
mines in the world, and is forecast to be a low cost producer.
Aggressive exploration on the Minto property has yielded
significant success, providing Sherwood the opportunity to 'grow
from within' by expanding the resource and reserve base,
potentially leading to further production increases. To further
accelerate its production growth, Sherwood intends to pursue merger
& acquisition opportunities that fit its business model and, in
May 2008, Sherwood acquired 100% ownership in Western Keltic Mines
(now Kutcho Copper Corp.), owner of the high-grade Kutcho
copper-zinc-gold-silver deposit in northwestern British Columbia.
Sherwood expects to lever off its successful development of the
Minto Mine and rapidly advance the Kutcho project to a production
decision.
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 Kutcho Project site are carried out
under the supervision of Brad Mercer, P. Geol., and V.P.
Exploration with Sherwood.
The analytical method for copper, zinc and silver includes aqua
regia digestion followed by ICP-AES (atomic emission spectroscopy).
If either copper or zinc reports over 2500ppm (0.25%), ore grade
analysis is conducted for copper, zinc and silver. Gold is measured
using fire assay followed by atomic absorption spectroscopy. When
visible gold is noted in drill core samples or regular fire assay
values exceed 5 grams per tonne, the pulp and screen metallic assay
method is used to determine total gold content and gold content of
different size fractions. This is considered industry best practice
when dealing with coarse gold mineralization where a nugget effect
is suspected. The result of the pulp and screen metallic assay is
accepted as the most representative value and used in the assay
database for resource calculations. All analytical work is carried
out by ALS Chemex in North Vancouver. Blanks and standard reference
materials are used for quality assurance and quality control. If
more than two check samples assay outside the expected ranges, the
entire work order is re-assayed. After the completion of planned
drill programs at Kutcho, random check assays will be carried out
by Acme Analytical of Vancouver.
Additional Information
Additional information on Sherwood and its Minto & Kutcho
projects 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
Forward-Looking Statements
This document may contain "forward-looking statements" within
the meaning of Canadian securities legislation and the United
States Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made as of the date of this document
and the Company does not intend, and does not assume any
obligation, to update these forward-looking statements.
Forward-looking statements relate to future events or future
performance and reflect management's expectations or beliefs
regarding future events and include, but are not limited to,
statements with respect to the estimation of mineral reserves and
resources, the realization of mineral reserve estimates, the timing
and amount of estimated future production, costs of production,
capital expenditures, success of mining operations, environmental
risks, unanticipated reclamation expenses, title disputes or claims
and limitations on insurance coverage. In certain cases,
forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" or the negative of these
terms or comparable terminology. By their very nature
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include, among others, risks related to actual results of
current exploration activities; changes in project parameters as
plans continue to be refined; future prices of resources; possible
variations in ore reserves, grade or recovery rates; accidents,
labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion
of development or construction activities; as well as those factors
detailed from time to time in the Company's interim and annual
financial statements and management's discussion and analysis of
those statements, all of which are filed and available for review
on SEDAR at www.sedar.com. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such
statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
Details of Drill Results
To accompany Sherwood Copper News Release Dated July 15, 2008
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From To Interval Interval Copper Zinc Gold Silver
Hole ID (m) (m) (m) (ft) (%) (%) (g/t) (g/t)
--------------------------------------------------------------------------
WK08-088 Abandoned
--------------------------------------------------------------------------
WK08-089 84.9 110.3 25.4 83.3 1.40 3.89 0.24 19.9
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--------------------------------------------------------------------------
WK08-090 90.9 110.8 19.9 65.3 2.52 2.59 0.52 47.3
--------------------------------------------------------------------------
including 92.4 97.3 4.9 16.1 3.79 2.07 1.13 95.4
--------------------------------------------------------------------------
and 99.2 107.8 8.6 28.2 2.87 3.54 0.43 42.2
--------------------------------------------------------------------------
--------------------------------------------------------------------------
WK08-091 101.9 127.4 25.5 83.7 1.92 2.46 0.30 30.8
--------------------------------------------------------------------------
including 112.8 123.0 10.2 33.5 2.60 3.94 0.33 38.1
--------------------------------------------------------------------------
--------------------------------------------------------------------------
WK08-092 84.7 103.8 19.1 62.7 1.47 2.56 0.22 20.4
--------------------------------------------------------------------------
including 87.8 91.7 3.9 12.8 2.48 3.34 0.39 45.4
--------------------------------------------------------------------------
--------------------------------------------------------------------------
WK08-093 52.8 70.3 17.5 51.4 0.77 0.74 0.12 9.3
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including 63.4 70.3 6.9 22.6 1.42 1.57 0.17 12.9
--------------------------------------------------------------------------
--------------------------------------------------------------------------
WK08-094 28.4 30.0 1.6 5.2 1.28 0.15 0.14 16.1
--------------------------------------------------------------------------
--------------------------------------------------------------------------
WK08-095 60.4 65.5 5.1 16.7 2.05 0.91 0.20 36.5
--------------------------------------------------------------------------
and 73.4 82.4 9.0 29.5 1.29 1.97 0.29 20.3
--------------------------------------------------------------------------
--------------------------------------------------------------------------
WK08-096 6.2 14.9 8.7 28.5 0.50 0.96 0.14 10.7
--------------------------------------------------------------------------
and 33.8 55.5 21.7 71.2 1.96 2.47 0.38 26.9
--------------------------------------------------------------------------
including 33.8 36.1 2.3 7.5 4.91 3.49 1.92 96.9
--------------------------------------------------------------------------
and 45.1 49.6 4.5 14.8 3.23 1.04 0.28 38.0
--------------------------------------------------------------------------
--------------------------------------------------------------------------
WK08-097 68.0 77.2 9.2 30.2 0.61 0.38 0.16 12.1
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and 82.7 87.4 4.7 15.4 1.37 3.67 0.18 15.0
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--------------------------------------------------------------------------
WK08-098 97.7 108.5 10.8 35.4 1.03 2.59 0.16 15.5
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WK08-099 83.7 98.2 14.6 47.9 Preliminary Data Only -
Final Assays Pending
--------------------------------------------------------------------------
--------------------------------------------------------------------------
WK08-100 90.3 108.8 18.5 60.7 Preliminary Data Only -
Final Assays Pending
--------------------------------------------------------------------------
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WK08-101 100.0 123.6 23.6 77.4 Preliminary Data Only -
Final Assays Pending
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WK08-102 18.5 32.3 13.8 45.3 0.68 1.41 0.16 10.4
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WK08-103 122.9 138.7 15.8 51.8 Preliminary Data Only -
Final Assays Pending
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WK08-104 34.7 48.9 14.2 46.6 Preliminary Data Only -
Final Assays Pending
--------------------------------------------------------------------------
--------------------------------------------------------------------------
WK08-105 118.9 138.5 19.6 64.3 2.13 4.22 0.40 30.6
--------------------------------------------------------------------------
including 120.8 124.1 3.3 10.8 4.68 4.15 0.79 60.9
--------------------------------------------------------------------------
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WK08-106 to 112 & 115 Preliminary Data Only -
Final Assays Pending
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--------------------------------------------------------------------------
WK08-116 to 148 All assay data pending
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The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press
release.
Contacts: Sherwood Copper Corp. Stephen Quin President & CEO
(604) 687-7545 or 1-888-338-2200 Sherwood Copper Corp. Chris Curran
(604) 687-7545 or 1-888-338-2200 Sherwood Copper Corp. Kristy
Reynolds (604) 687-7545 or 1-888-338-2200 (604) 689-5041 (FAX)
Website: www.sherwoodcopper.com
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