Xtra Energy Corp., Announces the Third Group of Historical Antimony Mines Recently Claimed by Expansion

Rhea-AI Summary

Xtra Energy Corp. (OTC PINK:XTPT) has announced the successful acquisition of a third group of historical antimony mines through a 495-acre claim expansion. This brings the total number of historically documented antimony mines under 100% ownership within its American Antimony project to eight. Key locations include the Last Hope Prospect, Spring Creek Prospect, and Marguerite No. 1 Prospect, all of which have confirmed antimony deposits. Chairman Mac J. Shahsavar emphasized the ongoing growth and the intent to consolidate historical antimony producers, positioning the company for potential large-scale funding and development.

Positive

• Acquisition of three more historically documented antimony deposits, increasing total ownership to eight.
• Completion of a 495-acre claim expansion demonstrates successful growth strategy.
• Chairman emphasizes commitment to securing funding for large-scale development.

Negative

• None.

AUSTIN, TX / ACCESSWIRE / January 30, 2023 / Xtra Energy Corp. (OTC PINK:XTPT) is pleased to announce the details of a third group of historical antimony mines claimed by Xtra Energy Corp. Xtra Energy recently completed the required filing and recording of a 495 acre, 24 lode claim expansion (10/12/2022 Company News) intent on targeting more historically documented antimony deposits. The continued mapping program proves to be successful with the confirmed ownership of three additional historically documented antimony mines on this 495 acre expansion. The "Last Hope Prospect" located at the NW corner of our American Antimony #43 lode claim, the "Spring Creek Prospect" located on the SW border of our American Antimony #49 lode claim and lastly the "Marguerite No. 1 Prospect" located at the NW corner of our American Antimony #58 lode claim. This brings Xtra Energy Corp's total to eight historically documented antimony mines under 100% claim within our "American Antimony" project. Locations can be referenced in the aerial map below.

The Last Hope Prospect as described by Lawrence, Edmond., in "Antimony Deposits of Nevada"; nbmg bull. 61 "is along the north side of Bernice Canyon 3.3 miles from the mouth of the canyon and just east and below the Marguerite No. 2 prospect. An adit cuts reddish-brown sandstone. Twenty-one feet from the portal there is a 2- to 3-inch quartz vein striking N. 60° E. and dipping 70° NW. Small pods, veinlets, and single crystals of stibnite occur in the quartz. In the 24-foot vertical winze, the vein widens to 20 inches. of quartz containing stibnite. A sample of this vein assayed 0.20 ounce of silver per ton, no. gold, and 11.50 percent antimony. One pod, 20 by 48 inches, contains approximately 35 percent antimony."

The Spring Creek Prospect as described in"Antimony Deposits of Nevada"; nbmg bull. 61 "is on the northside of Bernice Canyon, 3.8 miles from its mouth, and high on the hillside some 1,500 feet from the canyon bottom and the road. One open cut and a caved adit were found. No antimony mineralization was seen on the surface, but approximately 200 pounds of ore averaging 15 percent antimony were seen on the dump. A sample grabbed from the dump assayed 6.48 percent antimony, 0.08 ounce of gold and 0.28 ounce of silver per ton, and a trace of selenium."

The Marguerite No. 1 Prospect as described in"Antimony Deposits of Nevada"; nbmg bull. 61 "is along the south side of Bernice Canyon, 4.3 miles from the canyon mouth, some 800 feet above its floor. An open cut exposes a 14- to 18-inch vein, striking N. 5° E. and dipping 30° E. The vein is composed of 8 to 10 inches of quartz and 6 to 8 inches of gouge. Small pods up to 1 by 2 inches, blebs, and single crystals of stibnite occur in the quartz. The stibnite is almost completely altered to yellow antimony oxides. The vein, also, is exposed in an 18-foot inclined shaft. Here the vein strikes N. 20° E. and dips 30° SE. It is 10 to 14 inches wide and composed of gouge with only traces of stibnite and yellow antimony oxides."

The XTPT Chairman Mac J. Shahsavar, P. Eng. commented "With this news we successfully confirmed the addition of three more well documented antimony deposits. We continue our rapid growth with the goal of 100% Xtra Energy ownership and consolidation of all historical antimony producers that once made up the Bernice Mining District. As our portfolio of antimony-rich assets increase we will continue to prove up this portfolio until the most shareholder beneficial partner is found for large scale funding, development and supply."

Contact & Learn More:
Xtra Energy Corporation
Phone: 512-412-3636

Corporate Website: https://americanantimony.com/
Corporate Linkedin: https://www.linkedin.com/company/xtra-energy-corp/
Corporate Twitter: https://twitter.com/xtra_corp
Corporate Instagram :https://www.instagram.com/xtraenergycorp/

About Xtra Energy Corp.

Xtra Energy Corp. is an antimony exploration company focused on developing its flagship project "American Antimony". Known in historical records as the "Antimony King Mine" located approximately 31 miles northeast of Eastgate, Nevada. Xtra Energy Corp. holds a 100% ownership in a 64 lode claim, 1320 acre antimony project surrounding the historical Antimony King and covering several documented antimony producers. The Company is seeking to develop this portfolio of potentially antimony-rich assets to become a major supplier of antimony based products.

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/737192/Xtra-Energy-Corp-Announces-the-Third-Group-of-Historical-Antimony-Mines-Recently-Claimed-by-Expansion

FAQ

What recent developments has Xtra Energy Corp. announced regarding historical antimony mines?

Xtra Energy Corp. recently confirmed the acquisition of three additional historical antimony mines as part of a 495-acre claim expansion, bringing their total to eight.

How does the recent claim expansion impact Xtra Energy Corp.'s operations?

The claim expansion enhances Xtra Energy Corp.'s portfolio by confirming ownership of historically documented antimony deposits, which could lead to increased exploration and potential revenue.

What is the significance of the historical antimony mines for Xtra Energy Corp. and shareholders?

The acquisition of historical antimony mines signifies Xtra Energy Corp.'s strategy to consolidate valuable assets, potentially attracting larger investments for future development.

What is the total area claimed by Xtra Energy Corp. for its antimony project?

Xtra Energy Corp. now holds a 100% claim on a total of 1320 acres within its 'American Antimony' project.