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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.
XCana Petroleum Corp. (OTC PINK: XCPT) has successfully mapped and identified 102 lode claims covering approximately 3.3 square miles in a significant nickel and cobalt district. The company is preparing to record these claims with the Bureau of Land Management (BLM). CEO Mac J. Shahsavar expressed optimism about the nickel project, citing a 54% increase in spot nickel prices since September, indicating strong demand in the sector. Future updates will include the precise location of the target deposit once recording is complete.
XCana Petroleum Corp. (OTC Markets: XCPT) has entered a definitive agreement with Red Beryl Mining Company and accredited investors to acquire a 2000-acre mining property in the U.S., targeting a nickel deposit. This acquisition aims for 100% ownership, with specifics withheld until ownership is secured. The International Energy Agency projects a significant nickel demand increase by 2030, especially for electric vehicle batteries. The deal involves 25,000,000 restricted common shares with no cash payment.