Xtra Energy Corp. Announces The Results of The Recently Completed Mapping and Sampling Program at The American Antimony Project Near Eastgate, Nevada
Rhea-AI Summary
Xtra Energy Corp. (OTC Pink:XTPT) has announced the results of a geological mapping and sampling program at its American Antimony Project near Eastgate, Nevada. The program, conducted between August 11th and 20th, 2024, revealed significant antimony mineralization along Bernice Canyon. Key findings include:
- Antimony values ranging from 98 ppm to 30.9% Sb
- Five grab samples of QSP-altered felsite with Sb values from 0.24 to 2.45%
- Four grab samples of felsite-hosted stibnite-rich veins with Sb values from 5.69-12.03%
- A northwest-to-north-trending felsite dike complex spanning 2.5 kilometers, closely associated with antimony mineralization
The company plans to secure permits for road repairs and undertake a drilling program to further explore the project's potential. CEO Mac J. Shahsavar expressed confidence in the project's long-term value for shareholders.
Positive
- High-grade antimony mineralization discovered, with values up to 30.9% Sb
- Extensive mineralization zone identified along a 2.5 km felsite dike complex
- Potential for large-scale antimony resource due to widespread disseminated mineralization
- Existing road infrastructure provides easy access for future drilling operations
Negative
- Further permits required for road repairs and drilling program, potentially causing delays
- No information provided on project timeline or expected costs for future exploration phases
News Market Reaction 1 Alert
On the day this news was published, XTPT gained 16.74%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AUSTIN, TX / ACCESSWIRE / September 23, 2024 / Xtra Energy Corp. (OTC Pink:XTPT) is pleased to announce the results of a geological mapping and sampling program completed on the American Antimony Project between August 11th and August 20th by Robert Johansing, MSc, PG, QP, a California-based consulting geologist with extensive experience in Nevada, the southwestern United States, and beyond.
Link to Full Technical Report :Click Here.
Bernice Canyon, which spans the property from northwest to southeast over several kilometers, features a series of historical antimony mines on both sides. A total of twenty-one samples were collected from dumps and stockpiles scattered along the canyon floor, along with several exposures of the felsite dike complex itself. Antimony values range from 98 ppm to
Figure 1 : Geologic map of the Bernice Canyon project area showing sample sites and antimony (Sb) values.
A northwest-to-north-trending felsite dike complex, which traces for at least 2.5 kilometers (1.55 miles), is closely associated with antimony mineralization. The dike is composite and may consist of up to three parallel splays; it dips steeply from 70 to 90 degrees, bends clockwise to the north in its northern extent, and varies in width from a few meters to roughly 10 meters (33 feet). The dike is fine-grained, pale-white in color, widely altered to quartz-sericite-pyrite ("QSP"), and invaded by stibnite (an antimony sulfide-Sb2S3), manifesting as spheroidal disseminations, sulfide veinlets, and quartz-stibnite-ankerite veinlets in fractures that reach widths of up to 5 centimeters (2 inches) each. The sub-horizontal and sub-vertical fracture-fill veinlets made of massive stibnite have the highest antimony grades. However, the disseminated mineralization style is widespread along the dike complex, and volumetrically, samples may be significant because they contain up to
There were no other metals present and the QSP change was widespread and continuous. This suggests a major hydrothermal event caused by magma rather than a more common low-temperature antimony system far away. The close spatial relation between the felsite dike complex and stibnite mineralization is clear and presents an important target for ongoing exploration along the more than 1.55-mile-long exposed strike of this dike complex.
The historical road along the canyon floor provides simple access to all of the important historical mines located along the flanks of Bernice Canyon. At stations along the road, initial drilling can be done to test the two main splays of this dike complex at different depths along its strike length. This will give a rough idea of how much antimony is contained. The company's exploration team will now focus on securing the necessary permits to repair sections of this road and undertake a drilling program.
Xtra Energy's Chairman and CEO, Mr. Mac J. Shahsavar, P.Eng., comments: "We are extremely pleased with the successful results of our recently completed mapping and sampling program at the American Antimony Project. The data collected reinforces our confidence in the project's potential and highlights significant mineralization zones that exceed our initial expectations. This achievement is a critical step forward in advancing our exploration efforts and underscores the long-term value this project holds for our shareholders. We are excited to move forward with further drilling and exploration phases to unlock the full potential of this promising resource."
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
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About Xtra Energy Corporation
Xtra Energy Corporation is an antimony exploration company focused on developing its flagship project "American Antimony", approximately 31 miles northeast of Eastgate, Nevada. Xtra Energy Corporation holds a
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 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.
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SOURCE: Xtra Energy Corp.
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