STEAMBOAT SPRINGS, CO / ACCESSWIRE / January 31, 2023 / WESTERN SIERRA RESOURCE CORPORATION (OTC PINK:WSRC) provides this weekly project update.
During the last two weeks of mobilization and ongoing operations at the California Twitchell Dam and Reservoir Project, the Company's officers have been on site in meetings to specifically address immediate project priorities relative to recent California weather events. WSRC's officers have likewise met with the CEO (Clifton Turley) of Silver State Mining Group (SSMG) on location in Arizona to discuss operational strategies for the Sage Hen Mine and the addition of a new Processing Project in Arizona.
Now that the first mitigation project is underway with MSL as a wholly owned WSRC subsidiary, the resulting multi-year net scheduled contract revenue combined with an enhanced borrower profile for the Company, has created additional opportunity for capitalization of the Company's other projects; among them, the Sage Hen Mine and a new Arizona Processing Project.
This new Arizona Processing Project would draw and process material from several locations in Arizona for recovery of precious metals. The addition of this project will allow SSMG to initiate production within 60 days of funding and enable SSMG to generate revenue concurrent with development of the Nevada Sage Hen Mine location.
The Company (in June 2021) acquired a 70% Stake in Silver State Mining Group (SSMG) and its Sage Hen reserve evidencing commercially recoverable Gold (AU), Silver (Ag), Platinum (PT), Palladium (PD), and Rhodium (RH). The Company, in concert with Silver State Mining Group, is currently working to establish a $12 million, 100 ton per day enhanced processing facility for direct development at the Sage Hen site.
About Western Sierra Resource Corporation:
Founded in 1907, Western Sierra Resource Corporation (a Utah corporation), has a 115-year history as gold and silver mining company with projects in Arizona, Nevada, California, and Mexico. WSRC currently owns six precious metal reserves in Arizona. In 2014 the Company broadened its vision to include natural (and renewable) resources with its acquisition of water rights and associated infrastructure assets in Colorado for purposes of irrigating and cultivating industrial hemp; processing hemp for manufacture of various building products; and for construction of affordable homes utilizing hemp-based materials-among other beneficial uses. WSRC's intent is to become a broad-based resource company with high value, income generating assets that include water conservation projects, real estate, agriculture, precious metals, helium, and associated "green" technologies.
True to this mission, in September 2022, the Company acquired 100% of Mitigation Solutions, LLC (MSL), now a wholly owned subsidiary of WSRC. With the acquisition of MSL by WSRC, MSL's Principals have joined the WSRC management team. Scott Hastings was appointed to the WSRC Board of Directors and became its Chief Operating Officer. Jeff H. Jones was named Special Advisor to the WSRC Board of Directors. MSL's Principals and team members bring a combined 200 years of disaster response/relief, mitigation, and restoration experience to the Company. MSL has, since September 2022, successfully contracted, and initiated the 7-10 year, $1.5 - $2 Billion Twitchell Dam and Reservoir Mitigation Project in Santa Barbara County, CA, which is currently underway.
Forward Looking Statements:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance. or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, together with all usual and common economic, competitive, and equity market conditions / risks.
Western Sierra Resource Corporation
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SOURCE: Western Sierra Resource Corp.