The remains were recovered by a Disaster Victim Identification Unit member and taken to Christchurch where they will undergo an official identification process.
Kirkwood said earlier this month, a member of the public furnished Police with an entry from the "Intentions Book" at the Waimakariri Falls Hut, dated November 11.
It had Sheppeard's name on it and suggested she was likely heading to the
Waimakariri Col, Rolleston River or Hunts Creek.
Inquiries were conducted and information sought from the public.
A helicopter with observers on board searched the area and then a drone team
from Urban Search and Rescue (FENZ) flew the area recording images, which were
analysed.
The search area contained high alpine and bush areas, gorges with waterfalls
and boulder fields, which was a challenge for search teams.
Three field teams which included LandSAR volunteers and Police, two CanyonSAR teams, Alpine Cliff Rescue, two Police dogs and a LandSAR dog with their handlers were deployed into the area by Precision helicopters.
"This is obviously not the outcome we were hoping for but, pending confirmation, will bring some closure to Ms Sheppeard's family and friends.
"We would like to thank the dedicated search teams and the members of the
public who came forward with information."
Sheppeard had extensive mountain experience, police said.
Not only has she summited Aoraki Mt Cook, but she also joined Wanaka's search and rescue team where she trained for alpine operations.
She had also survived being on the other end of search and rescue missions.
That included being rescued from a crevasse in the Swiss Alps after injuring her ankle.
And - later in 2003 - surviving eight days after being stranded with a fellow physics student on an exposed ridge in Arthurs Pass National Park.
