Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3)
("
Vortex” or the "
Company") is
pleased to announce that it has submitted an “Application for
Exploration Approval” to the Mineral Lands Division, Department of
Industry, Energy, & Technology, Newfoundland and Labrador, for
the 23,500 hectares Robinsons River Salt Project. The permit
application was submitted on August 24th, 2023 by RESPEC Consulting
Inc. (“
RESPEC”) who is commissioned to conduct the
proposed work on behalf of Vortex.
The commodity of interest on the property is
halite (salt). A total of two (2) drill sites are proposed with a
max 2,500 meters drilled in 2023. Of the meters drilled, a maximum
of 1,100 meters will be evaluated using downhole geophysical
instrumentation. The Company will utilize pre-existing gravel
trails within the property boundary with <4 meters clearings for
vehicles. These trails need little to no preparation to improve
trail conditions. An additional <2 kilometers of new access
trails will need to be brushed; “brushing” will consist of clearing
the trail of material for a skid-mounted rig to travel through and
will not involve any line cutting. The pre-existing trails that
will be utilized, and the new proposed new access trails necessary
to operate can be found on Figure 1 and Figure 2.
Two diamond core wells will be drilled to
confirm the depth of the salt structures and attain the geological
properties of the salt and non-salt rocks. As an integrated
company, RESPEC will lead all required responsibilities to complete
the scope of work, including project management, well design, cost
estimates, procurement, active drilling management, data
collection, testing and technical reporting.
Paul Sparkes, Chief Executive Officer,
commented, “We are pleased to have submitted our drilling permit
application as a next step in the progress of the Robinson River
Salt project and look forward to selecting our drilling partner
once we receive the necessary approvals. Given the previous work
that had been completed on the property, we will have the benefit
of using existing infrastructure which will minimize any potential
disruption to the footprint.”
Figure 1: Vortex Property
Information
Figure 2: Robinson River Drill
Site A
Figure 3: Robinson River Drill
Site B
Qualified Person
The technical content of this news release has been reviewed and
approved by Piotr Kulkialka, P.Geo, who is acting as a consultant
to the Company and is a “Qualified Person” as defined by National
Instrument 43-101.
About RESPEC Consulting
Inc.
RESPEC is a global leader in diverse
technologies and draws from a wide array of expertise, products,
and services to deliver world-class solutions for business, mining,
energy, water, natural resources, urban development,
infrastructure, and enterprise services. RESPEC’s subsurface
experts have evaluated over 1,000 caverns in nearly every major
cavern storage region in the world. RESPEC’s over 50-year history
underground has helped to pioneer in-house specialty software and
rock lab testing that focuses on designing solution-mined and
conventionally mined storage caverns. RESPEC also plays a similar
role with the ACES Delta in Utah, the world’s largest green
hydrogen project under construction.
About Vortex Energy Corp.
Vortex Energy Corp. is an exploration stage company engaged
principally in the acquisition, exploration, and development of
mineral properties in North America. The company is currently
advancing its Robinson River Salt Project comprised of a total of
942 claims covering 23,500 hectares located approximately 35 linear
kms south of the town of Stephenville in the Province of
Newfoundland & Labrador. The Robinson River Salt Project is
prospective for both salt and hydrogen salt cavern storage. The
company is actively evaluating technologies to efficiently store
hydrogen or energy in salt caverns. Vortex Energy Corp. also holds
the Fire Eye Project, which is located in the Wollaston Domain of
northern Saskatchewan, Canada.
Cautionary Note Regarding
Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future
events or future performance. The use of any of the words “could”,
“intend”, “expect”, “believe”, “will”, “projected”, “estimated” and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on the Company’s current beliefs or
assumptions as to the outcome and timing of such future events. In
particular, this press release contains forward-looking information
relating to, among other things, the exploration plans of the
Company for the Project, including the nature and type of the
Company’s exploration activities, the timing of such exploration
activities, the ability of the Company to leverage its exploration
efforts to develop a drill plan for the Project and the aim of the
Company’s exploration efforts; and the expected benefits of the
Company’s partnership with RESPEC, including that RESPEC will
assist the Company in advancing the Project.
Various assumptions or factors are typically applied in drawing
conclusions or making the forecasts or projections set out in
forward-looking information, including, in respect of the
forward-looking information included in this press release,
assumptions regarding the Company’s ability to execute on its
exploration plans for the Project, including that it will receive
all of the necessary permits to conduct such exploration
activities, will be successful in carrying out such exploration
activities and will accomplish the desired outcomes from such
exploration activities; and that the Company’s partnership with
RESPEC will be carried out in accordance with the Agreement and
yield the anticipated benefits to the Company and the Project.
Although forward-looking information is based on the reasonable
assumptions of the Company’s management, there can be no assurance
that any forward-looking information will prove to be accurate.
Forward looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include, among other
things, the risk that exploration at the Project does not proceed
in the manner currently contemplated, or at all; risks inherent in
the exploration and development of mineral deposits, including
risks relating to receiving requisite permits and approvals,
changes in project parameters or delays as plans continue to be
redefined, that mineral exploration is inherently uncertain and
that the results of mineral exploration may not be indicative of
the actual geology or mineralization of a project; that the geology
or mineralization of nearby projects may not be indicative of the
geology or mineralization at the Project; that mineral exploration
may be unsuccessful or fail to achieve the results anticipated by
the Company, including that the Company may fail to develop a drill
plan for the Project; and that the Company’s partnership with
RESPEC may not yield the anticipated benefits to the Company or the
Project, including that the Company’s partnership with RESPEC may
not be carried out pursuant to the Agreement, or at all, and may
not assist in advancing the Project. The forward-looking
information contained in this release is made as of the date
hereof, and the Company not obligated to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing
statements expressly qualify any forward-looking information
contained herein.
The Canadian Securities Exchange (CSE) has not reviewed,
approved, or disapproved the contents of this press release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ee35762b-5fd8-4364-8e97-442f6a805aed
https://www.globenewswire.com/NewsRoom/AttachmentNg/c26f04f1-1f44-482f-aa50-7db8483bc640
https://www.globenewswire.com/NewsRoom/AttachmentNg/ecb5a4b8-da57-407e-9fb4-78d0b68a4096
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