Field report February 9, 2011
Administration
Sierra Gold Corp is in the process of changing its domicile to Wyoming from Nevada. The decision to change was based on the fact that Wyoming offers a more favourable tax advantage compared to Nevada. To achieve this in an orderly manner, the corporation was required to end its relationship with Nevada prior to filing the proper paper work with the State of Wyoming. This has now been completed and all paper work has been filed by our attorneys with the Wyoming Secretary of State pursuant to W.S. 17-16-1710 of the Wyoming Business Corporation Act.
Mining Operations
Sierra Gold Corp presently has 4 dredges in operation with the 5th dredge expected to be up and running in its' area of interest by mid February. 2 dredges are located in the Bo district and 2 dredges are located in the Zimmi district with 1 more dredge to follow.
Our new J.V. partner arrived the end of January and has been operational since the first of February.
Due to the late end of the rainy season we where unable to start operations as soon as we would have liked. This being said, we have made significant progress in both moving the dredges from the shore to the target areas of interest. And have begun processing the overburden to get to the gravel. The gravel above the bedrock is where you normally will find higher gold grades along with any other associated valuable minerals.
Below are the results of SGS Minerals lab analysis of sand and surface samples taken from the Bo and Zimmi districts. The Bo sample (BO/CON) is concentrate from 2 hours of dredging upper level sand close to the shore. The Zimmi sample (Znew Hand) is from a hand grab sample on the shore line.
CERTIFICATE OF ANALYSIS - Final Report
Doug Evans will be leaving for Sierra Leone February 15th and will return the middle to end of March. Upon his return we will Press release 1st quarter production numbers.
Agriculture
All crops (rice, sorghum, corn and peanuts) have now been harvested from the 1800 acres planted. In addition, the company has received the proceeds from the numerous farmers who participated in its loan programs. Preparations are under way for the upcoming farming season.
