AUSTIN, TX / ACCESSWIRE / March 28, 2023 / Xtra Energy Corp. (OTC PINK:XTPT) is pleased to announce the successfully completed 80 acre expansion to gain full ownership rights of the historical antimony producing Lofthouse Mine. The Lofthouse is approximately 5 miles southwest of our American Antimony Project and was known to be the principal antimony property of the district alongside the Antimony King Mine. This brings our total ownership rights to nine (9) historically documented antimony mines over 1400 acres in the Bernice Mining District of Churchill County, Nevada.
As described in LAWRENCE, E.F., 1963, ANTIMONY DEPOSITS OF NEVADA; NBMG BULL. 61; "The Lofthouse mine is situated on the west flank of the Clan Alpine Mountains in Dyer Canyon, 1.4 miles from its mouth. A small amount of antimony ore reportedly was mined during World War I. In 1940, two tons of ore averaging 30 percent antimony were produced. In 1948, 40 tons of ore averaging 50 percent antimony were shipped to the Harshaw Chemical Co. in Los Angeles. The mine is developed by two adits each 100 feet long and a number of trenches. The veins are 2 to 30 inches wide; the main vein averages 10 inches in width. Both veins are composed principally of quartz with minor calcite. Pods, veinlets, and single crystals of stibnite occur in and with the quartz."
On the expansion, Xtra Energy Corp. Chairman Mac J. Shahsavar, P. Eng. commented "The Lofthouse and Antimony King were the most recognized antimony producers of the Bernice Mining District. To gain full ownership rights of one of those is a major step forward for Xtra Energy and our goals to revive the district back to its heights. From bullets to batteries the world is waking up to the vital role antimony plays in several industrial applications, making it an essential component in many manufacturing processes, and its various applications highlight its versatility and importance in modern industries going forward."
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About Xtra Energy Corp.
Xtra Energy Corp. is an antimony exploration company focused on developing its flagship project "American Antimony", approximately 31 miles northeast of Eastgate, Nevada. Xtra Energy Corp. holds a 100% ownership in a 68 lode claim, 1400 acre antimony project surrounding the historically documented Antimony King Mine and covering all other documented antimony producers of the Bernice Mining District. The Company is seeking to develop this expanding portfolio of antimony-rich assets to become a major supplier of antimony based products.
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 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.
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