NEWS OUT:
News for 'SGCP' - (Sierra Gold Corporation Announces Recent Gold Assay Results From New Area)
TORONTO, Sep 4, 2007 (PrimeNewswire via COMTEX) -- Sierra Gold Corporation
(Pink Sheets:SGCP) has just received gold assay results from SGS Laboratories in
Toronto, Canada. The company collected samples in June of 2007 from a newly
discovered river flat area of the Pampana North. The gold grade averaged over 12
grams per ton, which is a higher gold grade than the gold grades found in both
Madhi and Manke's reports.
Geologist Alieu Madhi's report on the potential gold values for the Pampana
North property was based on .93 grams per ton. He estimated the gold reserves to
be just over 936,000 ounces. Madhi's report is based on extensive bulk sampling
work completed by the National Diamond Mining Corporation work done by U.S.
mining engineer, Mike Manke. Sierra Gold's recent assays are over 12 times
higher than those found in Madhi's report. Mr. Manke's report classified the
Pampana North concession as a larger grade placer deposit as defined by the U.S.
Bureau of Mines.
Sierra Gold's geological team will require further investigation and exploration
to define the gold value and develop the property.
Increased demand, world political instability, and the weakness of the U.S.
dollar are major contributing factors to the rise in gold prices.
Sierra Gold is engaged in the exploration and development of gold and diamond
properties in West Africa. The company will continue to conduct extensive
research and development of high quality mineral exploration projects.
Safe Harbor: No assurance can be given that past or similar results of precious
metal mining will be indicative of future results. 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 harbor 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.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: Sierra Gold Corporation
By Staff
CONTACT: Sierra Gold Corporation Doug Evans, President 416-200-6966 dougevans@sierragoldcorp.com www.sierragoldcorp.com
(C) Copyright 2007 PrimeNewswire, Inc. All rights reserved.
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INDUSTRY KEYWORD: Mining & Metals
SUBJECT CODE: MINING
METALS
Product Services Announcement
Source: Comtex Wall Street News
AI
