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Message: Sheffield Releases Copper Drill Results From Moonlight

Sheffield Releases Copper Drill Results From Moonlight

posted on Apr 10, 2008 07:15AM
Sheffield Releases Copper Drill Results From Moonlight

VANCOUVER, BRITISH COLUMBIA, Apr 09, 2008 (MARKET WIRE via COMTEX News Network) --

Sheffield Resources Ltd. ("Sheffield") (TSX VENTURE: SLD)(FRANKFURT: S2Q) is pleased to report assay results from a 15 hole reverse circulation drill program at the Moonlight Deposit which is located on Sheffield's Moonlight Copper Project in Plumas County, California. Sheffield has been drilling for leachable copper mineralization at the Moonlight Copper Deposit and its adjacent Engels Mine Prospect. Sheffield recently reported the results of 32 core holes drilled at the adjacent Engels Mine prospect, most of those holes intersected high-grade copper (as for examples 102 metres grading 1.11% copper or 54 metres grading 2.95% copper) that Sheffield anticipates metallurgical testing will demonstrate is recoverable at low cost by leaching. The reverse circulation drill program reported herein was designed to confirm additional leachable copper mineralization in the Moonlight deposit that was reported by Placer-Dome Inc. in the early 1990's. Placer at that time reported an oxide copper resource of 12.2 million tons grading 0.54% copper above a 0.25% copper cutoff. Said resource estimate, by a major mining company, while historically interesting is not NI 43-101 compliant and should not be depended on.


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Cut-
Hole Off From To Interval Copper
Number Cu% (metres) (metres) (metres) (%)
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07MRC-1 0.15 0.00 (0 ft.) 15.2 (50 ft.) 15.2 (50 ft.) 0.26
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0.20 4.57 (15 ft.) 15.2 (50 ft.) 10.63 (35 ft.) 0.29
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0.25 6.10 (20 ft.) 13.7 (45 ft.) 7.6 (25 ft.) 0.32
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07MRC-2 0.15 0.00 (0 ft.) 36.6 (120 ft.) 36.6 (120 ft.) 0.32
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0.20 4.57 (15 ft.) 36.6 (120 ft.) 32.03 (105 ft.) 0.33
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0.25 6.10 (20 ft.) 27.4 (90 ft.) 21.3 (70 ft.) 0.39
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07MRC-3 0.15 1.5 (5 ft.) 24.4 (80 ft.) 22.9 (75 ft.) 0.39
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0.20 3.0 (10 ft.) 24.4 (80 ft.) 21.4 (70 ft.) 0.41
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0.25 6.1 (20 ft.) 24.4 (80 ft.) 18.3 (60 ft.) 0.44
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07MRC-4 0.25 0.00 (0 ft.) 30.48 (100 ft.) 30.48 (100 ft.) 0.63
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07MRC-5 0.15 24.38 (80 ft.) 39.62 (130 ft.) 15.24 (50 ft.) (ii)0.75
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0.20 25.91 (85 ft.) 39.62 (130 ft.) 13.71 (45 ft.) (ii)0.82
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0.25 28.96 (95 ft.) 39.62 (130 ft.) 10.66 (35 ft.) (ii)1.00
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including 38.10 (125 ft.) 39.62 (130 ft.) 1.52 (5 ft.) (ii)4.99
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07MRC-6 0.15 0.0 (0 ft.) 36.58 (120 ft.) 36.58 (120 ft.) 0.27
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0.20 1.52 (5 ft.) 18.29 (60 ft.) 16.77 (55 ft.) 0.30
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0.20 22.86 (75 ft.) 32.00 (105 ft.) 9.14 (30 ft.) 0.27
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0.25 3.05 (10 ft.) 16.76 (55 ft.) 13.71 (45 ft.) 0.34
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0.25 25.91 (85 ft.) 32.00 (105 ft.) 6.09 (20 ft.) 0.35
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07MRC-7 0.15 1.52 (5 ft.) 24.38 (80 ft.) 22.86 (75 ft.) 0.61
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0.20 3.05 (10 ft.) 24.38 (80 ft.) 21.33 (70 ft.) 0.68
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0.25 3.05 (10 ft.) 24.38 (80 ft.) 21.33 (70 ft.) 0.68
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including 9.14 (30 ft.) 12.19 (40 ft.) 3.05 (10 ft.) 1.92
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07MRC-8 0.25 1.52 (5 ft.) 15.24 (50 ft.) 13.72 (45 ft.) 0.38
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0.25 15.24 (50 ft.) 25.91 (85 ft.) 10.67 (35 ft.) (i)0.92
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07MRC-9 0.20 3.05 (10 ft.) 19.81 (65 ft.) 16.76 (55 ft.) 0.30
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0.20 19.81 (65 ft.) 33.53 (110 ft.) 13.72 (45 ft.) (i)0.42
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0.25 9.14 (30 ft.) 19.81 (65 ft.) 10.66 (35 ft.) 0.36
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0.25 22.86 (75 ft.) 33.53 (110 ft.) 10.66 (35 ft.) (i)0.49
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07MRC-10 0.15 6.10 (20 ft.) 24.38 (80 ft.) 18.28 (60 ft.) 0.35
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0.25 15.24 (50 ft.) 24.38 (80 ft.) 9.14 (30 ft.) 0.51
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07MRC-11 0.15 3.05 (10 ft.) 25.91 (85 ft.) 22.86 (75 ft.) 0.54
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0.25 4.57 (15 ft.) 25.91 (85 ft.) 21.34 (70 ft.) 0.57
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07MRC-12 0.15 1.52 (5 ft.) 25.91 (85 ft.) 24.39 (80 ft.) 0.32
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0.20 3.05 (10 ft.) 25.91 (85 ft.) 22.86 (75 ft.) 0.34
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0.25 7.62 (25 ft.) 13.72 (45 ft.) 6.1 (20 ft.) 0.49
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07MRC-13 0.25 6.10 (20 ft.) 24.38 (80 ft.) 18.28 (60 ft.) 0.34
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07MRC-14 0.15 7.62 (25 ft.) 25.91 (85 ft.) 18.28 (60 ft.) 0.20
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0.20 13.72 (45 ft.) 19.81 (65 ft.) 6.09 (20 ft.) 0.25
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07MRC-15 0.20 7.62 (25 ft.) 24.38 (80 ft.) 16.76 (55 ft.) 0.23
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(i) Expected low solubility of copper
(ii) Expected very low solubility of copper

The drill results reported in the table are from a single line of holes drilled along an access road crossing the area underlain by Placer's oxide copper resource. The intersections are initial results which suggest Placer's resource boundary may to some degree be expanded outward and that some of the waste projected by Placer to overly the historical oxide copper resource is mineralized and at current metal prices is likely to contribute significantly to revenue from any mine developed to process the leachable copper mineralization at Moonlight and Engels.

The 15 drill holes were each sampled at five foot intervals from the surface to the total depth of the hole. A total of 283 samples from the Moonlight reverse circulation drill program were submitted for assay. The 148 samples that assay in excess of 0.25% copper average 0.55% copper which is very similar to the average copper grade of Placer's historical resource at the same cutoff grade. The 181 samples that assay 0.2% or higher in copper contain on average 0.49% copper. The 214 samples reported to contain 0.15% copper or more average 0.44% copper. This information is to provide the reader a better understanding of copper grade distribution and should not necessarily at this time be used to project potential increases in tonnage above that estimated by Placer with lower cutoff grades.

Sheffield plans to use the sample material derived from the core and reverse circulation drill cuttings in metallurgical programs to begin characterization of the leaching characteristics of the several types of mineralization intersected in the two drilling programs. Silver and gold contained in the mineralization are highly unlikely to be recovered in a copper leach operation, but may contribute to revenue if some of the high-grade copper is recovered into a flotation concentrate.

We are particularly excited about these results and those from the Engels Mine Prospect during this period of rising copper prices. The near surface geometry, high grade and oxidation all indicate that this project has the potential to be fast tracked to feasibility at low cost. Photographs of the project can be found on Sheffield's website www.sheffieldresources.com. In addition to the leachable copper mineralization reported in this message to shareholders, a preliminary NI 43-101 compliant sulfide copper plus silver resource was reported in March 2007 for the Moonlight Deposit. The sulfide resource remains open to resource expansion laterally and to depth and is more fully described on Sheffield's web site and in documents filed on www.sedar.com.

Quality Control and Assurance

A rigorous Quality Control and Assurance program (QC/QA) is in place, including systematic inclusion of standard sample materials and duplicate analyses. Samples are sent in sealed containers to ALS Chemex in Reno, Nevada. ALS Chemex is a recognized ISO 9000 registered laboratory. The control samples and duplicate assay results received for the drilling program demonstrated to Sheffield Resources that the assay results reported herein are reliable.

The exploration program is managed by Robert Wetzel, a California registered professional geologist and qualified person. David M Jenkins, P.Geo., and president of Sheffield Resources is designated the qualified person for the Moonlight Copper Project.

About Sheffield Resources Ltd.

Sheffield Resources Ltd. is an exploration and development company focused on the acquisition and systematic development of copper and nickel/cobalt deposits with potential for large tonnages of ore that are located close to infrastructure in politically stable areas.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Sheffield Resources Ltd. relies upon litigation protection for forward-looking statements.


Contacts:
Sheffield Resources Ltd.
Mr. David Jenkins
President
(604) 697-9400 or Toll Free: 1-866-697-9401
(604) 689-7654 (FAX)
Email: [email protected]
Website: www.sheffieldresources.com

StoxNetwork Corp.
Investor Relations
(250) 495-7123 or 1-866-580-2032
Email: [email protected]


SOURCE: Sheffield Resources Ltd.

mailto:[email protected] http://www.sheffieldresources.com mailto:[email protected]

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