Agoracom: Small Cap Investment - Sherwood Copper Corp - Increases Continuity of High Grade Copper Trend

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Increases Continuity of High Grade Copper Trend

posted on Nov 13, 2008 01:45AM

November 13, 2008

Sherwood Increases Continuity of High Grade Copper Trend at Its Kutcho Copper Project

3.6% copper over 10.5m, including 6.4% copper over 5.0m in WK08-165

1.9% copper over 26.7m, including 3.8% copper over 6.7m in WK08-168

1.6% copper over 32.7m, including 3.2% copper over 6.5m in WK08-160

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2008) - Sherwood Copper Corporation (TSX VENTURE:SWC)(TSX VENTURE:SWC.DB) today announced the fifth and final batch of assay results from its 2008 drill program at the high grade Kutcho Copper Project, located in north-western British Columbia. The 2008 program successfully infilled large data gaps within the previous "Main" deposit mineral resource, intersecting thick intervals of near surface, high-grade copper mineralization, with significant by-product values in zinc, silver and gold. The Main deposit is one of three massive sulphide deposits identified at Kutcho, which Sherwood controls through its wholly owned subsidiary, Kutcho Copper Corp.

Tabulated below are highlights of the last batch of assay results, while complete results for these six holes are attached. Results for previously reported holes are contained in news releases available on the company's website.

--------------------------------------------------------------------------
            From     To  Interval  Interval  Copper   Zinc    Gold  Silver
Hole ID       (m)    (m)       (m)      (ft)     (%)    (%)   (g/t)   (g/t)
--------------------------------------------------------------------------
WK08-160   115.0  147.7      32.7     107.3    1.60   1.40    0.28      27
--------------------------------------------------------------------------
 including 137.7  144.2       6.5      21.3    3.18   1.02    0.43      54
--------------------------------------------------------------------------
WK08-165    59.2   69.7      10.5      34.4    3.64   3.98    1.72      64
--------------------------------------------------------------------------
 including  62.0   67.0       5.0      16.4    6.45   5.63    3.34     121
--------------------------------------------------------------------------
WK08-168   101.3  128.0      26.7      87.6    1.93   1.56    0.27      28
--------------------------------------------------------------------------
 including 112.0  117.5       5.5      18.0    2.62   0.92    0.35      41
--------------------------------------------------------------------------
 and       121.3  128.0       6.7      22.0    3.84   3.84    0.33      52
--------------------------------------------------------------------------

"The 2008 program achieved its objective of defining a continuous, crescent shaped zone of thick, near surface, high grade copper mineralization with significant by-product values in zinc, silver and gold," said Stephen Quin, President and CEO of Sherwood Copper. "This drilling also provided additional data for a better open pit design and ample material for extensive metallurgical testing. By infilling large gaps in the previous Main deposit model, we expect to increase both the overall grade of the mineral resource and increase the classification for much of this resource," he said. Holes WK08-165 and -166 extend the high grade mineralization further westward, while holes WK08-160 and -168 infill two separate gaps in the high grade trend with thick intersections of excellent grade copper mineralization. "Our 2008 drill program has significantly improved the continuity of the high grade mineralization, which should result in a robust geological model and a high grade, near surface copper resource with significant zinc, gold and silver by-product values. This new resource estimation is expected before the end of the year," said Mr. Quin.

2008 Drill Program

Reporting of assay results for all seventy-eight (81 were collared but 3 were abandoned) 2008 exploration holes is now complete. Five additional drill holes were completed as groundwater monitoring wells in support of ongoing permitting activities. Two of these water wells intersected the Kutcho footwall VMS horizon that lies 100m to 120m stratigraphically beneath the Main deposit. One well, RK11 intersected 1.6 metres of 1.24% copper; 1.11g/t gold and 104g/t silver. This horizon represents a poorly tested exploration opportunity for future consideration.

Follow the first link below to view a long section displaying the result of all drilling to date, represented as a grade times thickness plot, pierce points for the 2008 drill holes are included for reference. The second link shows the same grade times thickness parameters without the 2008 drill data, provided for comparison purposes.

http://media3.marketwire.com/r/13Nov...

http://media3.marketwire.com/r/13Nov...

Kutcho Copper Project

Sherwood views Kutcho's high grade, near surface copper resources, with their substantial by-product credits of zinc, silver and gold, as a potential opportunity to develop an economically attractive open pit mining operation similar in scale to its Minto Mine. The previously announced Preliminary Economic Assessment ("PEA") set out a base case for development of the Kutcho Copper Project by focusing on the Main deposit, but outlined a number of opportunities to materially enhance the merits of the project. Sherwood is continuing the process of optimizing the Kutcho Copper Project by focusing on these opportunities, including the definition of higher grade resources. Further, there is additional upside potential from the possible exploitation of underground resources not considered in the PEA and through the discovery of additional deposits in this prospective volcanogenic massive sulphide terrain.

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