Vancouver – Recent drilling by Sherwood Copper (SWC-V) has confirmed the presence of significant copper and gold grades at the advanced Minto project in the Yukon Territory.
Sherwood (previously known as Sherwood Mining) revived the permitted project earlier this year after acquiring and consolidating ownership from various parties. A previous operator attempted to bring a mine into production in the late 1990s. About US$10 million was spent on construction before the project was suspended because of low metal prices.
The Minto project hosts measured and indicated resources of 9.2 million tons grading 1.8% copper, 0.016 oz. gold and 0.2 oz. silver per ton, plus an inferred resource of 770,000 tons grading 1.41% copper, 0.013 oz. gold and 0.2 oz. silver. These estimates are based on 239 drill holes, including 11 drilled in 2001. (The previous operator was American; grades from historic drilling were not reported under the metric system.)
Sherwood’s confirmation drilling returned some high-grade results, notably 10.2% copper, 1.8 gram gold and 42.3 grams silver per tonne over 14 metres, and 2.7% copper, 0.9 gram gold and 9.4 grams silver over 33.1 metres. Other holes are described as "generally comparable to or better than anticipated from adjacent older holes."
Several step-out holes returned encouraging results, including 26.4 metres of 2.9% copper, 1.9 gram gold and 10.4 grams silver, including 14.4 metres of 4.1% copper, 2 grams gold and 13.6 grams silver. Highlights from other step-out holes are: 20.1 metres of 1.8% copper, 1.2 gram gold and 8.4 grams silver; 26.4 metres of 2.9% copper, 1.9 grams gold and 10.4 grams silver; and 20.1 metres of 1.8% copper, 1.2 grams gold and 8.4 grams silver.
The program is aimed at confirming existing resources, upgrading inferred resources with proposed pit boundaries, and expanding the overall resource. This work will be followed by a feasibility study.
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