XCana Petroleum Corp., Announces the Completed Filing and Recording of a 2100 Acre Nickel & Cobalt Project, Disclosing The Location of the Target Deposit

Rhea-AI Summary

XCana Petroleum Corp (OTC PINK:XCPT) announced the completion of filing and recording a 2100-acre nickel and cobalt project in the Table Mountain District, Nevada. This property secures 100% ownership and is strategically located near historical production sites from 1882. The project is essential for ensuring a domestic supply of nickel and cobalt, critical for modern technologies and national security. The Chairman, Mac J. Shahsavar, emphasized the importance of these metals in avoiding global supply chain disruptions. This acquisition complements their existing Antimony and Lithium projects, completing their portfolio in critical battery metals.

Positive

• Secured 100% ownership of a 2100-acre nickel and cobalt project.
• Positioning in a historically productive area for nickel and cobalt.
• Emphasis on reducing global supply chain risks for critical metals.

Negative

• None.

CHICAGO, IL / ACCESSWIRE / March 28, 2023 / XCana Petroleum Corp. (OTC PINK:XCPT) announced today that it has completed the required filing and recording of a 2100 acre, 102 lode claim, 3.3sq mile project in the Table Mountain District of northern Churchill County, Nevada. Situated strategically in the historically documented "Cottonwood Canyon" where according to historical records was discovered by George Lovelock and Charles Bell in the year 1882. Production began shortly thereafter with early volumes of "Mineral Resources" containing notes on production. The larger part of early production started in 1883 and continued until about 1886 with about 200 tons of ore being shipped to England for refining. The general average of the 200 tons shipped to England was recorded to have been 12 percent nickel and 14 percent cobalt with at least one car of ore containing 26 percent nickel.

The recording of this 2100 acre property secures XCana Corp's 100% ownership interest. The XCPT Chairman Mac J. Shahsavar, P. Eng. commented "We are excited to complete this recording and begin our rapid plans of growth for XCana Corp. Nickel and cobalt are essential metals for modern technologies, and their availability is critical for national security. By having a domestic source of these metals, the United States can avoid potential disruptions in the global supply chain and ensure its national security. Located approximately 30 miles from our Antimony Project and approximately 600 miles from our Lithium Project we have completed our portfolio of critical battery metal exploring companies."

Historical Reference : https://pubs.nbmg.unr.edu/Nickel-deposits-Cottonwood-Can-p/b032.htm

*aerial map of XCana Corp. 102 lode claim project.

Contact & Learn More:
XCana Petroleum Corporation
+1 312-635-5432
xcanapetro@gmail.com
Corporate Website: xcanacorp.com
Corporate Linkedin: https://www.linkedin.com/company/xcana-corp/
Corporate Twitter: https://twitter.com/XcanaCorp

Forward-Looking Statements:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at: https://www.otcmarkets.com/stock/XCPT/disclosure

SOURCE: XCANA PETROLEUM CORP

View source version on accesswire.com:
https://www.accesswire.com/746109/XCana-Petroleum-Corp-Announces-the-Completed-Filing-and-Recording-of-a-2100-Acre-Nickel-Cobalt-Project-Disclosing-The-Location-of-the-Target-Deposit

FAQ

What is XCana Petroleum Corp's recent project announcement?

XCana Petroleum Corp announced the completion of a 2100-acre nickel and cobalt project in Nevada.

Where is the new project located?

The project is located in the Table Mountain District of northern Churchill County, Nevada.

What are the critical metals involved in this project?

The project focuses on nickel and cobalt, which are essential for modern technologies.

How does this project affect U.S. national security?

Having a domestic source of nickel and cobalt helps avoid disruptions in the global supply chain and supports national security.

What is the historical significance of the project location?

The site was historically productive, with early production starting in 1883 and significant ore shipments made to England.