Mining
Thursday, January 18th, 2024 4:11 pm EDT
Key Points
Resumption of Core Drilling Program:
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- Vortex Energy Corp. announces the recommencement of the core drilling program at its Robinsons River Salt Project near Stephenville, Newfoundland & Labrador.
- The drilling program is conducted by Major Drilling Group International Inc. with support from RESPEC Consulting Inc.
- The current focus is on drilling core well two at the West structure of the Robinsons River Salt Project.
Objectives of the Drill Program:
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- The primary objective is to confirm the depth of the salt structure.
- Core samples obtained will be used for future analysis of geological and geochemical properties of both salt and non-salt rocks.
- The initial drill program successfully intersected salt rock at a depth of 581.5 meters in the Western Salt Structure.
Company Information and Forward-Looking Statements:
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- Vortex Energy Corp. is an exploration stage company engaged in mineral property acquisition, exploration, and development in North America.
- The Robinson River Salt Project, covering 23,500 hectares, is prospective for salt and hydrogen salt cavern storage.
- CEO Paul Sparkes expresses optimism about intersecting salt again and acknowledges the support of partners in the drilling program.
- The press release includes cautionary notes regarding forward-looking statements, emphasizing the inherent uncertainties and risks in exploration activities.
Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) (“Vortex” or the “Company“) is pleased to announce that the core drilling program has now recommenced at its Robinsons River Salt Project (the “Project”) located near Stephenville, Newfoundland & Labrador. The drilling program is once again being conducted by Major Drilling Group International Inc. (“Major Drilling”) under the support of the Company’s consultant partner, RESPEC Consulting Inc. (“RESPEC”). The Company is currently drilling core well two at the West structure of The Project.
The objective of the drill program is to confirm the depth of the salt structure and attain core which will be used for future analysis of geological and geochemical properties of the salt and non-salt rocks. During the drilling of core well one, the Company intersected salt rock top at a depth of 581.5 meters at the Western Salt Structure located within the Robinsons River Salt Project.
Paul Sparkes, Chief Executive Officer, commented, “We are excited to announce the recommencement of our drilling program. Having successfully intersected salt during our initial drill program, we are optimistic about once again intersecting salt at core well two. I would also like to thank our invaluable partners who have played a critical role in assisting Vortex with this drill program and wish them the best of luck for a safe and successful drilling program.”
Figure 1: Core Hole 2 Drill Rig
Figure 2: Core Hole 2 Drill Rig
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.
On Behalf of the Board of Directors
Paul Sparkes
Chief Executive Officer, Director
+1 (778) 819-0164
info@vortexenergycorp.com
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 Company’s exploration plans at the Project, including the nature and type of the Company’s exploration activities, the timing of such exploration activities and the aim and objectives of the Company’s exploration efforts; and the Company’s optimism regarding intersecting salt at core well two.
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 at the Project, including that it will be successful in carrying out such exploration activities on the anticipated timeline and that such exploration activities will yield the expected information and the desired outcomes; and that the results of the Company’s exploration activities to date are representative of the actual geological conditions and mineralization at 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 and on the timeline 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 mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; and that mineral exploration activities are often unsuccessful. The forward-looking information contained in this release is made as of the date hereof, and the Company is 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/728687d7-8b35-47f5-8c70-94a82e7f0b26
https://www.globenewswire.com/NewsRoom/AttachmentNg/cc3a9029-d994-4acf-b9e8-9248c98602de
Core Hole 2 Drill Rig
Figure 2
