Xtra Energy Corp., Announces the Completion of Locating & Mapping of 825 Acre Antimony Property

Rhea-AI Summary

Xtra Energy Corp (OTC PINK:XTPT) has successfully identified the boundaries and mapped 40 targeted lode claims, covering 825 acres, for Antimony. The company is currently preparing these claims for recording with the Bureau of Land Management (BLM) and will subsequently disclose the exact location of the Antimony deposit. Antimony is gaining attention due to concerns over supply chain vulnerabilities, with recent congressional efforts addressing the U.S.'s reliance on Chinese imports. There are currently no domestic mines for antimony, highlighting the strategic importance of this mineral.

Positive

• Successfully identified and mapped 40 lode claims covering 825 acres of Antimony land.
• Antimony's growing importance due to geopolitical dynamics, increasing demand for domestic supply.

Negative

• Dependence on foreign (mainly Chinese) sources for Antimony, posing supply chain risks.
• No domestic production of Antimony, highlighting vulnerability in resource availability.

AUSTIN, TX / ACCESSWIRE / June 22, 2022 / Xtra Energy Corp. (OTC PINK:XTPT) announced today that it has completed identifying the boundaries, locating, and mapping 40 targeted lode claims making up 825 acres of well documented Antimony land. Xtra Energy Corp is now in the process of naming and prepping each claim for recording to the Bureau of Land Management (BLM). Once the recording to the BLM is completed Xtra Energy will disclose the exact location of our target Antimony Deposit.

Just last week Antimony received some mainstream attention. A rarity for this rather unknown critical mineral. "Antimony is now on the front lines of recent congressional efforts to shore up the strategic reserve of rare earth minerals, known as the national defense stockpile. The House Armed Services Committee took its first stab at addressing China's grip on the antimony supply chain in draft legislation it released Wednesday. A report accompanying the bill would require the manager of the national defense stockpile to brief the committee on the status of antimony by October while providing a five-year outlook of these minerals and current and future supply chain vulnerabilities. The committee is concerned about recent geopolitical dynamics with Russia and China and how that could accelerate supply chain disruptions, particularly with antimony, the report noted. "There is no domestic mine for antimony," according to a 2020 report from the U.S. Geological Survey, a government agency. China is the largest producer of mined and refined antimony and a major source of imports for the United States."

Reference Article :

https://www.defensenews.com/congress/budget/2022/06/08/the-us-is-heavily-reliant-on-china-and-russia-for-its-ammo-supply-chain-congress-wants-to-fix-that/

Contact:
Xtra Energy Corporation
Phone : 512-412-3636

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/XTPT/disclosure

SOURCE: Xtra Energy Corp.

View source version on accesswire.com:
https://www.accesswire.com/706061/Xtra-Energy-Corp-Announces-the-Completion-of-Locating-Mapping-of-825-Acre-Antimony-Property

FAQ

What recent developments has Xtra Energy Corp (XTPT) announced regarding Antimony?

Xtra Energy Corp has identified and mapped 40 lode claims totaling 825 acres, preparing them for recording with the Bureau of Land Management (BLM).

Why is Antimony significant in the current market?

Antimony is increasingly recognized due to supply chain vulnerabilities and congressional efforts to secure domestic resources amid geopolitical tensions.

What are the implications of the U.S. reliance on Antimony imports for XTPT?

The lack of domestic Antimony production creates potential supply chain risks for Xtra Energy Corp, emphasizing the strategic importance of their claims.