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Sierra Gold Corporation
Sierra Gold Corporation Positioned to Increase Gold Production Tenfold With Arrival of New Processing Plants
TORONTO, Oct. 6, 2008 (GLOBE NEWSWIRE) -- Sierra Gold Corporation (Pink Sheets:SGCP) announced today that the two new 10 ton, state-of-the-art, gold processing plants arrived in Sierra Leone last week. These plants will enable the company to process up to 20 tons per hour and boast a 95-98 percent recovery rate. This technology offers an environmentally friendly process with no chemicals and reduced water use. Given their portability, these units can be moved easily to locations deemed appropriate for greater gold recovery. Later this fall the company will now have the ability to speed up production by a factor of 10 times or more. In contrast to the 1-2 kilos of gold that Sierra Gold produced per month using local methods, the new gold plants will have the capacity to produce 20 kilos per month. Our figures are based on 8 hours per day with a past recovery rate of 4.5 grams of gold per ton. The plans are to operate 300 days per year.