Delta, British Columbia, October 20, 2020. SIERRA GROWTH CORP. (the “Company” or “Sierra”) (CSE: SGRO) (OTC: SIERF) (FF: F91Q) is pleased to provide a summary of a recent site visit it conducted at 3 exploration properties controlled by Nevada based Primus Resources (“Primus”). The Company has the exclusive right to acquire these properties and 2 others from Primus. The details of this option agreement were previously announced in a press release dated July 20, 2020.
About the Nevada Projects
Sierra presently has, through an option agreement with Primus, the right to acquire 5 gold and base metal projects located within Nye and Pershing county, Nevada (the “Projects”). As part of its 90-day due diligence period, Sierra dispatched a small team to examine, document and sample areas of the Projects for known mineralization that outcrop. Nye and Pershing county lay within central Nevada and possess excellent infrastructure and are highly active areas for mineral exploration.
Site Visit Highlights
As part of the Company’s ongoing due diligence, a director of Sierra accompanied by a small team conducted a 3-day site visit. During this site visit, a total of 27 grab samples were selectively taken from the Glitra, New Sat and Mildred areas and delivered to ALS Global Geochemical Laboratories in Reno, Nevada for preparation and gold assaying. Each sample will be examined by a multi-element ICP analysis as well as fire-assayed for gold by a 50g fire assay with Atomic Absorption Spectrometry (AAS) instrument finish. Assays are currently pending and are expected to be received within the next 30 days. Sampling was not intended to provide any specific quantifying data relating to tonnage or grade of any specific resource at this time but rather lay the groundwork for more productive subsequent exploration efforts.
The Company has retained the services of C.J. Greig & Associates, a Canadian based exploration consultant, that will provide a Qualified Person as defined by NI43-101 to conduct geological mapping and other preliminary field work. During the field examination, the main focus will be on getting a better understanding of the geologic framework of the known mineralized and altered zones, such that clear recommendations for possible next steps in a systematic exploration effort, if warranted, can be presented. Upon completion, C.J. Greig & Associates will provide Sierra with a summary report detailing their observations, impressions, and interpretations, as well as recommendations for further work. Field work is expected to start in October 2020 and will take roughly 2 weeks to complete.
About Sierra Growth Corp.
Sierra Growth is a junior resource company engaged in the exploration and development of valuable mineral assets. The Company currently maintains mineral projects in Peru and is actively engaged in the review and potential acquisition of new mining and exploration assets.
ON BEHALF OF THE BOARD OF DIRECTORS
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Further information regarding Sierra Growth Corp. and its operations can be obtained by reviewing the Company’s interim and annual reports and other documents on SEDAR at www.sedar.com.
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Sierra Growth Corp., including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.