AUSTIN, TX / ACCESSWIRE / April 17, 2023 / Xtra Energy Corp. (OTC PINK:XTPT) is pleased to announce the successfully completed 20 acre expansion to gain full ownership rights of the historical antimony producing Drumm Mine. The Drumm Mine is directly adjacent and west of our American Antimony #59 lode claim that holds our Far South Marguerite Prospect. This brings our total ownership rights to fourteen (14) historically documented antimony mines over 1425 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 Drumm mine is on the west side of a southeast-trending side canyon, which meets Bernice Canyon 3.8 miles from the mouth of the canyon, 500 feet above the canyon floor. The mine is developed by a 22-foot adit, 40-foot crosscut, and a 95-foot inclined winze. In 1940, 28 tons of ore averaging 52 percent antimony were produced. During 1941 and 1942, 57 tons of ore containing 48.2 percent antimony were produced. The country rock is brown shale dipping 80° E. A dense, brown sill crops out below the portal of the adit. It is highly sericitized, but apparently was composed of at least 10 percent feldspar phenocrysts in a groundmass of feldspar and quartz. A 6-inch quartz vein containing numerous pods of stibnite up to 10 by 24 inches in size is exposed in the adit. One limb of the vein strikes N. 25° E. and dips 15° E.; the other limb dips 35° to the west. The winze was sunk in the westward-dipping limb of the vein. A 6-inch wide sample of the easterly dipping limb assayed a trace of gold and 0.04 ounce of silver per ton, and 16.37 percent antimony. The width of the vein varies greatly in the winze, but at the bottom a brecciated zone up to 48 inches wide has been recemented by quartz containing pods and veinlets of stibnite. In both the adit and crosscut, small pods of stibnite are disseminated through the wall rock. The stibnite has been oxidized slightly to yellow antimony oxides."
On the expansion, Xtra Energy Corp. Chairman Mac J. Shahsavar, P. Eng. commented "By combining several smaller operations under a consolidated district a mining company can better manage these growing resources and ensure they are used in the most sustainable and responsible manner. A consolidation of a mining district can lead to improved efficiency, increased safety, better environmental management, improved regulatory compliance, and better resource management, all of which can contribute to a more sustainable and profitable mining industry."
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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 69 lode claim, 1425 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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