YUKON - The government of the Yukon has signed a 10-year extension of the Type A Water Licence for the Minto copper-gold project about 240 km northwest of Whitehorse. The Type A licence allows the owner, SHERWOOD COPPER CORP. of Vancouver, to build and operate the mine. The project already had its Type B Water Licence which covers, among other things, access to the site.
A feasibility study of the Minto project was done by the prior owners in the late-1990s. Permits were obtained and construction was begun, but work was halted after expenditures of $10 million as a result of falling copper prices. Sherwood (www.SherwoodCopper.com) is conducting an extensive work program to update the feasibility study, which is slated for completion in early 2006. The work will be done by Sherwood's wholly-owned subsidiary, MINTO EXPLORATIONS.