YUKON Vancouver-based SHERWOOD COPPER has confirmed the discovery of a new high-grade copper-gold zone at its Minto mine 240 km northwest of Whitehorse. Called the “Copper Keel” zone, the new find was made less an 800 metres southeast of the Main pit now being mined. It is also less than 200 metres east of the proposed Area 2 open pit.
Hole 08SWC-389 intersected 24.5 metres of mineralization that assayed 2.07% Cu, 0.86 g/t Au and 7.5 g/t Ag. Along that length there were three areas of higher grade material: 8.6 metres of 2.65% Cu and 1.11 g/t Au; 9.1 metres of 3.07% Cu and 1.27 g/t Au; and 4.4 metres of 3.41% Cu and 2.30 g/t Au.
Sherwood says it is confident that the results from hole 08SWC-389 appear to link up several intercepts within the Copper Keel trend, suggesting potential for a large, high grade deposit in the area. The size of the Copper Keel target is further supported by a magnetic anomaly measuring more than 600 metres by 230 metres, nearly double the aerial extent of the magnetic anomaly associated with the Main deposit. All of the known near surface deposits on the Minto mine property, including the Main deposit, Area 2, Area 118 and Ridgetop, are associated with distinct magnetic anomalies as a result of the strong magnetite association with high grade copper-gold mineralization.
Drilling will resume at Copper Keel next year. A map of current drill hole locations may be viewed at www.SherwoodCopper.com/i/pdf/2008-11-04CopperKeelTargetMap.pdf.