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Sierra Resource Group DTC Deposit Chill lifted
Sierra Resource Group, Inc. (OTCBB: SIRG) (the "Company" or "Sierra") announced today that the Depository Trust & Clearing Corporation has advised Sierra that the Depository Trust Company has determined to lift the Deposit Chill on the Company's stock and has resumed accepting deposits of the Company's stock for depository and book-entry transfer services.
"We are pleased with this determination and know our shareholders will be too," said J. Rod Martin, Chief Executive Officer of Sierra.
About the company:
Sierra Resource Group Inc. (OTC Bulletin Board: SIRG) is a U.S based exploration and mining company committed to the exploration, discovery and development of gold, silver, copper and other mineral resources. Sierra's primary asset is 80% ownership of the Chloride Copper Mine located near Kingman Arizona. Sierra has reached an agreement to purchase half of the minority interest taking its overall ownership to 90%. The technical report, NI43-101, by Scott Wilson Roscoe Postle Associates March 10, 2006, estimates the Chloride Copper Mine contains 27,000,000 pounds of copper. The company is looking to expand throughout the Americas in the near future.
Sierra plans to use open pit mining and plans to reopen the existing SX/EW plant on site with the maximum capability of producing up to 5,400,000 pounds of Copper Cathode per year. The existing SX/EW Plant On-Site is environmentally friendly, cost effective and a quick production process according to an article published by the Copper Development Association in August 2001.
