As another trading week begins, investors are on the lookout for companies to track, and following the developments of this morning, the Xtra Energy Corp (OTC:XTPT) stock could be the one to follow. The antimony exploration company is in focus this morning after making a significant announcement. In this feature, we take a closer look.
The Announcement
The company hit the news wires after it announced the results from a mineralogical/petrological study of the rocks bearing antimony discovered at its Bernice Canyon project situated in Churchill County. As per the information revealed in the results, there were 3 types of antimony mineralization at the felsite dike and had been subjected to QSP (Quartzite sericite pyrite) alteration. It was a major new announcement from the company and one that could have a significant effect on its future direction as a leading antimony producer in the United States.
Further Information
The company also noted in the news release that the discoveries in Nevada are generally regarded as the pathfinder element related to gold deposits. The latest results provided the company with greater context about the higher grade of antimony that had been discovered and thereafter sampled at the project located at Bernice Canyon.
Management Quote
Consulting geologist for Xtra Energy Corp., Robert Johansing, M.Sc., PG & QP, observed, “The results from this study provide Xtra with additional context for the high-grade antimony mineralization mapped and sampled at their Bernice Canyon project. We are now confident that the extensive felsite dikes are the target unit and that the fluids responsible for the antimony deposits traversed the thick sequence of Triassic sediments via the throughgoing dike. Proposed drilling for 2025 will focus on these dikes at shallow (<100 m) depths”.
