Western Sierra Resource Corporation (OTC Pink: WSRC) is a gold and silver mining company that was founded in 1907. In recent years, the company expanded its focus to include renewable & natural resources, such as water rights and related infrastructure. Shares of the mining and resource company soared 841.51% during trading on Tuesday, June 22, 2021. Over the past thirty days, Western Sierra Resource Corp. has seen average daily volume of 403,048 shares. However, volume of 192.66 million shares or dollar volume of $48.07 million, exchanged hands during Tuesday’s trading.
Shares of Western Sierra Resource Corp. shot up after the company announced that it has entered into negotiation talks with Silver State Mining Group, Inc. (SSMG) to acquire a 70% majority stake of its common shares. SSMG maintains a 49% ownership of the Sage Hen Mining claims located in Nevada, which total 640 acres. The Sage Hen claims are adjacent to the Relief Canyon Mine along the Oreana Trend. Assays have shown strong deposits of mostly gold and silver. However, signs of platinum, palladium, and rhodium were found as well.
Western Sierra Resource and SSMG are planning to build a massive 100 ton-per-day enhanced recovery operation. Over time, management says it aims to increase processing capabilities to 1,100 ton-per-day. Ultimately, this gives the potential of net income from operations around $269 million and $3.2 billion, respectively.
Western Sierra Resource Corporation Press Release:
STEAMBOAT SPRINGS, Colo., June 22, 2021 (GLOBE NEWSWIRE) — WESTERN SIERRA RESOURCE CORPORATION (OTC: WSRC) is pleased to announce that it has entered into negotiations with Silver State Mining Group, Inc. (“SSMG”) to acquire 70% of its common stock. SSMG owns 49% of the Sage Hen Mining claims in Nevada totaling 640 acres. The Sage Hen claims are located adjacent to the Relief Canyon Mine in the Oreana Tend. In addition to gold and silver, the enhanced recovery system assays have indicated platinum, palladium and rhodium. WSRC and SSMG plan on building a 100 ton/day plan and then immediately increasing that to 1,100 tons/day. Projected annual net income from the 100 ton/day and 1,100 ton/day operation is $269 million and $3.2 billion respectively. We look forward to providing further details and timely updates on the company’s progress.
About Western Sierra Resource Corporation:
Founded in 1907, Western Sierra Resource Corporation (a Utah corporation), has historically been a gold and silver mining company which continues to own several historical 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 construction of affordable homes utilizing hemp-based materials—among other beneficial uses. Commercial, Industrial, and Agricultural land for these purposes has been recently acquired (closed as of 06.15.21) at a price of $1,400,000, with additional agricultural and residential land also now under a $250,000 non-refundable earnest money purchase contract. WSRC’s intent is to become a broad-based resource company with high value and high income generating assets including water rights and precious metals and related technologies.
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.