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Sierra Resource Group, Inc. (SIRG.OB) Signs Letter of Intent to Acquire a Proprietary Phyto-Remediation Process

Jan. 03, 2011 2:35 PM ET
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Sierra Resource Group, Inc. signed a Letter of Intent to acquire BioGrow, a proprietary phyto-remediation process. BioGrow is a proven method of developing and sustaining plant growth in toxic soils polluted with heavy metal elements and other toxic substances.

Metal-producing activities, such as mining or smelting, have created countless sites where toxic metals have become concentrated in soils. “We are excited to become part of the Sierra Resource Group family. Years ago, we started a journey from research and development and to the US Patent application process, and now, we are a part of a corporation dedicated to environmental friendly mining. We are excited to start the reclamation process and restore the land on as many mining sites as possible,” said Peter Edgar, BioGrow’s Chief Executive.

Sierra Resource Group, Inc. owns an 80 percent interest in the Chloride Copper Mine. The Chloride Copper Mine property consists of 37 unpatented lode mining claims and 12 millsite claims. It is 24km northwest of Kingman, in the Wallapai District, Mohave County, Arizona. The Chloride Copper Mine deposit is hosted by Late Tertiary conglomerates and, to a lesser extent, by Quaternary alluvium and Cretaceous granitic rocks.

Copper mineralization at Chloride Copper Mine is in the form of mineralized lenses contained within a paleochannel approximately a few thousand feet long and up to 750 feet wide. The source of copper at Chloride Copper Mine is interpreted to be the low-grade porphyry-type copper mineralization at Alum Wash, approximately 3.5 miles northeast of the Chloride Copper Mine deposit. The mineralization is characterized by dark blue to black rock similar to the Exotica deposit, a satellite of the huge Chuquicamata copper deposit in Chile.

Sierra Resource Group, Inc. is a U.S. based junior exploration and mining company. The Company’s commitment is to the exploration, discovery, and development of copper, gold, silver, and other mineral resources. They hold mining rights and mineral concessions in Arizona and they are looking to expand throughout the Americas in the near future.

For more information visit: sierraresgroup.com

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