AUSTIN, TX / ACCESSWIRE / January 13, 2025 / Xtra Energy Corp. (OTC Pink:XTPT), a leading antimony exploration company, is pleased to announce the commencement of key permitting for its American Antimony Project located in the Bernice Canyon of Churchill County, Nevada. The company anticipates this significant milestone to mark the next phase in the project's development, positioning it as a pivotal asset in United States antimony production.
The initiation of the permitting process with Trinity Consultants - WestLand underscores the company's commitment to adhering to local and international regulatory standards while ensuring environmental stewardship and sustainable practices. Xtra Energy is working closely with environmental consultants, community stakeholders, and local government bodies to facilitate a smooth and transparent permitting process.
Xtra Energy anticipates that this process will encompass the restoration of the historic road leading to the Antimony King mine (See Figure 1.). The purpose of this recovery is to gain access to several sites within Bernice Canyon to drill and test the mineralized felsite dike near the Arrance, King Solomon, and Antimony King mines (See Figure 2.). A Reverse Circulation (RC) drilling program is likely to best address the need for quality samples along the felsite dike complex's strike.
Figure 1: Proposed road work to and within Bernice Canyon to establish vehicular access for proposed exploration. Mitigation of the several washouts will involve approximately 0.77 acres while the existing, historical mine road will only require minor clean-up activities.
Figure 2: Generalized geologic section across the felsite dikes in the general area of the King Solomon and Antimony King mines showing potential drill angles and depths.
In addition to facilitating exploration activities, gaining road access will enable Xtra Energy to test existing antimony stockpiles for potential third-party sale or supply agreements. This strategic move could provide an early revenue stream and strengthen the company's position in the antimony market. The company plans to evaluate the quality and quantity of these stockpiles to assess their commercial viability.
XTPT must obtain a permit from the BLM to achieve these goals. Given the projected physical impact of less than 5 acres, management anticipates completing a Notice of Intent (NOI) within a few weeks and receiving approval within 30 days of completion and submission.
Xtra Energy's Chairman and CEO, Mr. Mac J. Shahsavar, P.Eng., commented on the development:
"The commencement of the permitting process represents a critical step forward in advancing the American Antimony Project. This ensures that we continue to uphold our high standards of regulatory compliance and environmental responsibility. Moreover, the ability to access and test existing antimony stockpiles opens up exciting opportunities for potential third-party partnerships and early revenue generation."
The company anticipates completing the permitting process by Q1 2025 for targeting drilling in Q2 2025. This development will further de-risk the project and provide greater clarity on the timeline for moving into the next stages of exploration and development.
As new information becomes available, Xtra Energy will continue to keep stakeholders updated on the progress of the permitting process.
Contact & Learn More:
Xtra Energy Corporation
Phone: 512-412-3636
Corporate Website: https://americanantimony.com/
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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 100% ownership in a 203 lode claim, 4200 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.
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.
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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