Xtra Energy Corp. (OTC:XTPT) Stock Gains Momentum: Here Is Why

This morning, most investors are going to be looking keenly into those companies that had been in the news cycle on Monday, and hence, it is likely that Xtra Energy Corp. (OTC:XTPT) could come into focus. Yesterday, the company announced that it had received the lab results from its Sparks, Nevada-based third-party service provider, American Assay Laboratories.

The company revealed in its news release that the 16 rock samples in the study had been collected underground during the course of the exploration activity in October last year. The sampling program at the time had been headed by the geologist Keith Diegel. The main aim of the exploration and sampling program was to confirm that high-grade antimony was present at the Arrance Antimony Project, of which Xtra Energy Corp. owned 100%. The Arrance Antimony Project is also part of the American Antimony Project, the flagship project of Xtra Energy Corp., and is situated around 31 miles from Eastgate in Nevada.

The samples had been collected from five separate locations in the underground tunnel. The company also announced that the results would be used to plan and design future drilling programs. Xtra Energy Corp. also announced that it would also make an announcement about the additional targets it had earmarked for future exploration programs.

The Chairman and Chief Executive Officer of the company, Mac J. Shahsavar, spoke about the development as well. He noted that the findings from the latest report constituted highly exciting news for the company. The excitement was brought about by the fact that the testing proved the presence of high-level antimony that had been revealed in the XRF testing conducted by Xtra Energy Corp. Moreover, it also added validity to the satellite imagery results that had been disclosed recently. It could be a good move to keep an eye on the stock.