VANCOUVER, British Columbia, Oct. 10, 2012 - Berkwood Resources Ltd. (TSX-V: BKR) ( "Berkwood") is pleased to release the review of historical data and results from check assays on its recently acquired Peter Lake Copper Property (the "Property"), located 90 km north of Mont-Laurier, Quebec. The Property consists of 24 claims totalling 1403 Ha located in the Mont-Laurier Terrane in the Central Grenville Province.
Over several years of historical work, two mineralized zones have been discovered on the property, the Peter Lake North and Peter Lake South showings. They are located in a late gabbroic dyke intrusion, with Copper-Nickel mineralization associated with sulphides. The Peter Lake North showing is a continuous Copper-Nickel mineralized structure that has been traced to approximately 300 metres, averaging 0.5 to 3 metres true width, with historical grab samples grading from 0.24% to 7.5% CuEq (Copper Equivalent). The Peter Lake South showing is a stripped zone of 30 x 30 metres with historical grab samples grading from 0.42% to 31.5% CuEq. Both mineralized zones remain open in both directions along a NE trend. Most of the showings lie within the Serpent Intrusive Suite, close or within Rabot Metamorphic Suite units, close to the contact with the Lacoste intrusive Suite (Quebec MRNF Document GM 60928).
A total of 6 grab samples collected from the mineralized zone in both showings were sent to Laboratoire Expert of Rouyn-Noranda.
Assays results for Cu, Ni, Co, Au, Ag, S and the CuEq calculation are given below.
NAD83, Zone 18 Cu Ni Co Au Ag S CuEq
UTME UTMN Sample # % % % g/t g/t % %
479525 5226070 1 0.422 0.591 0.022 0.006 0.250 5.2 1.802
479530 5226070 2 4.306 0.539 0.041 0.280 5.900 6.6 5.826
479535 5226070 3 22.830 0.138 0.073 1.182 32.600 12.8 24.202
480745 5227225 4 1.564 0.731 0.076 0.025 2.800 9.6 3.447
480750 5227230 5 3.516 0.680 0.149 0.105 4.800 18.9 5.588
480755 5227235 6 1.031 0.727 0.043 0.024 1.300 8.3 2.794
The samples analyzed were mineralized rock outcrop samples composed of massive sulphides in gabbro, taken at the two showings and confirm the range of historical grab samples.
The CuEq (Copper Equivalent) calculation was made using the ratio of Nickel, Cobalt and Gold prices (in percentage terms) divided by the Copper Price. The CuEq calculation is based on the following parameters: US $57.0837/g Au (NYSE - 8th October, 2012 closing), US $3.6943/lb Cu and US $8.1287/lb Ni (Kitco - 9th October, 2012 closing) and US $12.409/lb Co (LME - 8th October, 2012 closing) and is based on 100% metallurgical recoveries.
Numerous other mineralized showings, geological zones of interest and geochemical anomalies occur on the Property and remain to be further explored.
The Cu-Ni mineralization found at Peter Lake indicates a magmatic source (the presence of typical minerals such as: olivine, pentlandite, cobalt minerals, PGE with mechanical breccias is easily seen on outcrops) coupled with a hydrothermal enrichment demonstrated by the high Cu/Ni ratios and pyritization (more than 10% pyrite). Native Cu is also present in Peter Lake South showing.
This data has been provided by Ressources Maxima Inc., EarthMetrix Inc. and the statutory work filed with the Quebec Ministry of Natural Resources and Wildlife (MRNFQ). The Geology of the property has been defined by the work of MRNFQ from limited available data at 1:50,000 (GM 60928 and RG 2001-16).
The next stage of work planned for the Peter Lake Property is detailed surface work including channel sampling and trenching to be followed by possible core drilling.
This news release has been reviewed and approved by Alain Moreau, P. Geo., who supervised the preparation of the technical information in this news release. Alain Moreau is a Qualified Person as defined by National Instrument 43-101.
To view maps and photos of the Peter Lake Copper Property, please click on the following link. http://www.berkwoodresources.com/peter-lake-copper-property.html
If you are not currently on the Berkwood Resources news and updates list, you can opt-in via the Berkwood website by clicking here. News Releases and exploration updates are emailed to list members who wish to keep up to date with Berkwood Resources and our projects.
On Behalf of Berkwood Resources
Brian Buchanan, President and Director
Forward Looking Statements
This Berkwood News Release may contain certain "forward-looking" statements and information relating to Berkwood that are based on the beliefs of Berkwood's management as well as assumptions made by and information currently available to Berkwood's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitation, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. Except as required by law, Berkwood does not assume the obligation to update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
KARIM SAYANI, CORPORATE COMMUNICATIONS
TEL: (604) 662-7455 E-MAIL: KARIM@BERKWOODRESOURCES.COM
TOM STEER, MEDIA RELATIONS MANAGER
TEL: (604) 681-5556 E-MAIL: TOMSTEER@BERKWOODRESOURCES.COM
SOURCE Berkwood Resources Ltd.