AUSTIN, TX / ACCESSWIRE / September 26, 2022 / Xtra Energy Corp. (OTC PINK:XTPT) is excited to share that after review of production records, maps, and geological reports on the recently announced acquisition of Arrance Prospect (see 9/20/2022 Company News), promising data on possible reserves were located.
What are possible reserves? Possible Reserves represent valuable mineralization not sampled enough to accurately estimate its tonnage and grade, or even verify its existence also called "inferred reserves." Located in a 1970 memorandum and property report by D.L. Evans "consulting geologist"(see July 19th, 1970 Memorandum) Xtra Energy is given detailed guidance on integral Antimony mines that made up the Bernice Canyon, Nevada.
Historical data and maps as authored by Geologist D.L. Evans indicates a total of 1,045,000 tons possible in the Arrance Prospect split between a south upper tunnel 20ft wide and lower tunnel 14ft wide. A total of 60,000 tons of that 1,045,000 tons marked as currently developed leaving the bulk behind. This historical evidence makes the ownership of this mine a substantial find. No records of further production have been noted since these 1970 reports leaving Xtra Energy confident this reserve is still present.
The historical production records that are accessible for Bernice, Nevada also give great insight into the purchase requirements of ore from this area. The lowest grade of ore purchased was 50% Sb as referenced by the Chapman Smelting Co. of San Francisco, California, the most frequently referenced purchaser of Antimony from claims in Bernice, Nevada see Chapman Smelting Co. History. Using this historical data Xtra Energy projects a possible 985,000 tons at a 50% Sb or higher grade present at its 100% owned Arrance Prospect. Today's average per ton price of Antimony ranges from $1,910.00 - $6,750.00 USD Averaging around $2,900 USD see Antimony Ore Market Report.
The XTPT Chairman Mac J. Shahsavar, P. Eng. commented "In our last release I stressed the importance of proving up a portfolio of antimony-rich assets to progress towards partnerships for supply. The Arrance Prospect is accomplishing exactly that with the introduction of an inferred reserve. In conjunction with progressing this reserve towards an indicated status we will strive to locate the many other antimony deposits hidden within the Bernice Mining District. The inferred reserve will also enable Xtra Energy to begin discussions with the appropriate parties for partnerships to develop and supply Antimony ore."
*Arrance Prospect index map from 1970 memorandum.
*ore reserves for the Arrance Prospect from 1970 memorandum
*Conclusions from 1970 memorandum
Contact & Learn More:
Xtra Energy Corporation
Phone: 512-412-3636
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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 40 lode claim, 825 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.
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