ATLANTA, Nov. 22, 2006 (PRIMEZONE) -- OTC Stock Review / TSX Review announces that it has initiated coverage of Sheffield Resources Ltd. (TSX-V:SLD) (Other OTC:SLDOF) and (Frankfurt:S2Q). Sheffield Resources Ltd. is an exploration and development company focused on the acquisition and systematic exploration of advanced-stage copper projects with the goal of advancing them to production. Sheffield's 100% owned Moonlight project in Plumas County, California was held by Placer Dome for 30 years, but as a result of low copper prices in 1993, they dropped the project to focus on Gold. The property sat idle until it was acquired by Sheffield last year. Sheffield CEO, David Jenkins was employed by a Placer Dome predecessor company and was aware of the Moonlight project while it sat in Placer's exploration portfolio for 30 years. Once he took the helm at Sheffield, engineers reevaluated the geological data base and found the potential is there to greatly enhance the value of the deposit.
Sheffield announced late yesterday results of its core drilling program included copper and silver analyses of its tenth "HQ" diamond drill hole. Hole 06MN-10 intersected a 147 metres (485.2 ft.) of copper mineralization the most notable intervals of which are 40 metres (131.2 ft.) grading 0.53% copper and 7.0 grams per tonne of silver and 24 metres (78.7 ft.) containing 0.42% copper and 4.3 grams per tonne of silver. Additionally, On November 20, 2006, Sheffield updated the results of Hole 06MN-9 to include silver assays that were not available in its October 10, 2006 release. Hole 06MN-9 intersected a total of 97.5 metres (320 ft.) of mineralization grading 1.08% copper and 7.1 grams per tonne silver and ended at 103.3 metres (339 ft.) in low-grade copper mineralization.
Key points outlined in the report are:
-- The copper deposit at Moonlight could be larger than originally
estimated, as it is open both laterally and to depth, and there
is potential to outline satellite deposits.
-- The tonnage of the Moonlight Project is potentially more than
400 million tons.
-- The copper grade could be higher than previously estimated,
as major improvements in drilling technology over the past
44 years tend to give us better samples from which to estimate
the grade.
-- Further enhancements to the grade are possible since fracture
zones that appear to carry grades significantly higher than
the deposit average grades were not considered when the deposit
was originally evaluated in 1962.
-- Additionally, the deposit contains widespread silver and, at
least locally, gold and molybdenum, which were not systematically
assayed and were therefore not factored into the historic
estimates.
The complete report is available at http://www.otcstockreview.com/Files/SLDOF/SLD_Review.pdf
Additionally, more information on Sheffield Resources Ltd. is available at http://www.otcstockreview.com/sldof.htm or at http://www.sheffieldresources.com.
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