September 14, 2004
PRESS RELEASE #04-04
Trading Symbol: SWM : TSXV


Sherwood Commences Drilling On Chicago Properties, Hope Bay Surface Grab Samples Return Up To 227 G/T Gold

 
   

Vancouver, B.C. - Sherwood Mining Corporation (TSX:SWM) is pleased to announce that it has completed its mapping program on the Chicago claims in the Hope Bay belt, defining three drill targets. In addition to the high grade gold-silver Kell and Kell South surface showings, field work has identified significant gold values in the Hammerhead showing. This brings the number of high grade gold showings within the optioned claims to four. Drill testing of two of the four showings is now underway. The Chicago claims are held under option from Miramar Mining Corporation (TSX: MAE, AMEX:MNG).

Kell Showing

Mapping and sampling of the Kell showing, at the contact between mafic and felsic volcanics, outlined an extensive area of strong quartz-sericite-pyrite alteration which encompasses a series of precious metal rich quartz-base metal veins. Collectively, the geologic evidence supports the presence of a system having potential to host volcanogenic massive sulphide mineralization. Both channel sampling of the veins in the Kell and Kell South showing prior to 2004 and grab sampling outside of the area of channel sampling returned significant values in 2004. Highlights of both sets of samples are presented below.

Sample Number

Sample Year

Sample Type

Width

(m)

Gold

(g/t)

Silver (g/t)

Copper (%)

Zinc (%)

18165

2000

Channel

0.50

45.0

6,393

Not significant

19606

2000

Channel

0.55

169.1

3,232

Not significant

19602 – 19603

2000

Channel

0.75

13.7

1,066

Not significant

18178

2000

Channel

0.30

45.3

2,569

Not significant

17376 - 17377

2000

Channel

0.40

15.5

1,266

Not significant

18152

2000

Channel

0.50

12.0

2,751

Not significant

17349 – 17351

2000

Channel

1.60

6.1

1,166

Not significant

17344 – 17347

2000

Channel

2.40

8.3

2,559

Not significant

17367 – 17370

2000

Channel

2.15

9.3

779

Not significant

19626

2000

Channel

0.50

15.8

4,438

Not significant

77712

2004

Grab

 

3.0

61

3.2

0.0

77723

2004

Grab

 

0.1

52

1.9

0.7

95615

2004

Grab

 

9.4

1,014

0.0

0.1

97913

2004

Grab

 

0.1

73

1.2

5.3

97914

2004

Grab

 

0.7

51

3.3

1.3

97926

2004

Grab

 

0.1

Over limit*

2.0

0.4

*Results too high for ICP analysis (>100g/t silver), samples being fire assayed to determine actualsilver values

Based on the work completed to date, drill targets have been identified and drilling is currently in process. Results will be announced when available.

Hammerhead Showing

Mapping and sampling in the mafic volcanics approximately 1.5km northeast of the Kell showing outlined an area of quartz veining and alteration that returned up to 227g/t gold in grab samples. Named the Hammerhead showing, the area is poorly exposed, but a zone of veining has been traced over widths of up to 5m and has a total exposed strike length of approximately 25m, with the higher values generally towards the northern end of the outcrop. Highlights of the gold and silver assays for samples collected in 2004 are set out below.

Sample Number

Sample Type/ Width (m)

Gold

(g/t)

Silver

(g/t)

77734

Grab

227.7

Over limit*

77735

Grab

102.0

Over limit*

77736

Grab

37.4

Over limit*

77737

Grab

3.8

13.3

77741

Grab

5.3

32.4

77745

Float

5.3

24.2

*Results too high for ICP analysis (>100 g/t silver, samples being fire assayed to determine actual silver values

Based on these encouraging results, a limited initial drill hole program is in process. Results will be announced when available.

Chicago Agreement

The Chicago Area consists of 11 claims covering 9,162 hectares located in the southwest portion of the Hope Bay Belt, and lies approximately 15 km southwest of Miramar 's Boston Camp. The Hope Bay belt in Nunavut , Canada , is being actively explored by Miramar and contains multiple gold deposits and showings.

Sherwood has an option to acquire a 60% interest in the Chicago Area of the Hope Bay Belt, encompassing the Chicago/Kell and Heku trends, which encompass the Kell, Kell South, Linear and Hammerhead showings. Miramar is conducting the exploration program on behalf of Sherwood.

For more information, including maps and a summary of previous exploration highlights from the Chicago Area, please visit the Company's website at www.northair.com/sherwood/ .

Miramar owns 10 million shares of Sherwood, representing approximately 40% of the issued shares of Sherwood.

Quality Assurance

The information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by John Wakeford, P. Geo. Vice-President, Exploration for Miramar Mining Corporation. The analytical method for the gold analysis is gravimetric assay, done by TSL Laboratories in Saskatoon , with metallic screen assays for all samples assaying over 10g/t gold. Silver and base metals are initially determined by ICP analysis, with over limits for silver determined by gravimetric assay and base metal over limits determined by atomic absorption spectrometry.

ON BEHALF OF THE BOARD OF DIRECTORS

“D. Bruce McLeod”                  

D. Bruce McLeod, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
 

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