On September 25, Sherwood Copper announced results for an extensive Gradient Array Induced Polarization (GAIP) survey on its wholly owned high grade Minto copper-gold mine property in the Yukon. The results of the survey include the definition of a large chargeability anomaly in an under-explored area that was previously thought to be of low prospectivity. The edge of this new anomaly correlates with recent drill discoveries of high grade copper-gold mineralization at Airstrip and Copper Keel, suggesting additional potential beyond the scope of recent drilling. Also of potential significance are several newly identified chargeability anomalies located north of the main Minto pit, indicating exploration potential north of the Minto Mine, in areas that have received only very cursory exploration drilling.
The 2007 GAIP survey was designed to expand on a 2006 GAIP survey after drilling at Area 2 and Area 118 showed a direct coincidence of significant copper sulphide mineralization and chargeability anomalies delineated in 2006. Sherwood believes “these results suggest that Sherwood has developed an additional exploration tool to help in prioritizing exploration targets.” There were two main aims of the 2007 geophysical program: firstly to evaluate areas south of the main Minto deposit, expanding coverage to areas of known prospectivity not covered in 2006 and, secondly, to begin evaluating areas north of the Minto mine, where there are multiple coincident copper-in-soil and magnetic anomalies but very little drilling. After positive drill results were obtained from drilling on the Airstrip-Copper Keel prospects in 2007, the GAIP survey was further expanded to encompass and evaluate these areas more fully and previously unexplored areas to the south.
“The recent geophysical survey results from Minto are encouraging and indicate exploration potential in areas previously thought to have limited prospectivity,” said Stephen Quin, President & CEO. “These geophysical results compliment the recent announced discovery of a new style of copper-gold mineralization in the Airstrip-Copper Keel area, coincident with the edge of the largest of the newly defined geophysical anomalies, and dominated by chalcocite as opposed to the more typical bornite-chalcopyrite copper mineralization found in the main Minto and Area 2 deposits. Our exploration team is confident that GAIP will prove to be another valuable technique in our exploration toolbox, improving the success rate of our exploration drilling and offering potential for more discoveries beyond those already announced in 2007.”
As announced March 5, 2007, core drilling was the major component of the 2007 exploration program. The second component was to increase the coverage of the GAIP survey at Minto. A total of 138 line km of GAIP surveys were completed in 2007, a four-fold increase over the 33 km completed in the 2006 program, bringing the total GAIP km surveyed by Sherwood to 171 km, encompassing an area of approximately 10 km2. The 2007 survey was completed on 10 separate blocks that overlap with adjacent blocks to provide seamless coverage. Both years, the GAIP survey was conducted by Aurora Geosciences of Yellowknife.
