Sierra Gold Corp., (Pink Sheets:SGCP - News) today announced that during the first 6 months of 2010 the Company produced 197 oz of gold and 137 pieces (52 carats) of diamonds through its various operations.
In addition to these positive results, three 8"/50 TPH dredges were purchased and one 100TPH dredge was built and tested. Two dredging licences were acquired and testing operations on one site began in June of this year. To further increase productivity capabilities, five new licensed areas were acquired in late June and it is the Company's goal to attempt dredging operations in at least one of these new sites during the rainy season. It is Sierra's goal, at the commencement of the next mining season, to have all four dredges in operation.
John Semachko Jr, President of Sierra Gold Corp., commented "I am excited about the upcoming mining season. With four dredges operational in a variety of different areas, we expect a very positive financial year. Our dredge manufacturing facility will not only add to the company's mineral recovery potential but also will create employment and training for the local population."
Safe Harbor: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act''). In particular, when used in the preceding of discussion, the words "pleased'', "plan'', "confident that,'' "believe,'' "expect,'' or "intent to'' and similar conditional expressions are intended to identity forward-looking statements within the meaning of the Act and are subject to the safe harbour created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks in the company's SEC reports and filings.