Mining
Wednesday, January 10th, 2024 3:58 pm EDT
Key Points
Drilling Commencement at Robinsons River Salt Project:
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- Vortex Energy Corp. has initiated drill and crew mobilization at its flagship property, the Robinsons River Salt Project.
- The drilling aims to commence at the second approved core well, following the success of the initial core well, which intersected salt rock at a depth of 581.5 meters.
- Contractors involved in the drilling of the first core well, namely RESPEC Consulting Inc., Major Drilling Group International Inc., and DGI Geoscience Inc., have been retained for the drilling of the second core well.
- The objective of drilling the second core well is to confirm the depth of salt rock structures and gather geological properties of both salt and non-salt rocks at the project.
Extension of Marketing Services Engagement with Financial Star News Inc. (FSN):
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- Vortex Energy Corp. has extended its engagement of Financial Star News Inc. for marketing services, as previously disclosed in various news releases throughout 2023.
- The extension is for an additional 45 days, commencing on January 10th, 2024, with the flexibility for management to further extend or shorten the term based on the efficiency of the marketing services.
- FSN will continue to provide marketing services, including creating campaigns, ad groups, text ads, display ads, keyword research, managing remarketing campaigns, and promoting the company’s business on theFinancialStar.com, email, Facebook, and Google.
- The Company will pay a fee of USD $300,000 (plus GST) for the extended marketing services, and no securities will be issued as compensation to FSN.
About Vortex Energy Corp. and Project Details:
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- Vortex Energy Corp. is an exploration stage company focused on acquiring, exploring, and developing mineral properties in North America.
- The Robinson River Salt Project, the company’s flagship property, covers 942 claims spanning 23,500 hectares, located approximately 35 linear kilometers south of Stephenville in Newfoundland & Labrador.
- The project is prospective for both salt and hydrogen salt cavern storage, and the company is actively evaluating technologies for efficient hydrogen or energy storage in salt caverns.
- Vortex Energy Corp. also holds the Fire Eye Project, situated in the Wollaston Domain of northern Saskatchewan, Canada.
Vortex Energy Corp. (CSE: VRTX | OTCQB: VTECF | FRA: AA3) (“Vortex” or the “Company“) is pleased to announce that drill and crew mobilization has begun at the Company’s flagship property, the Robinsons River Salt Project (the “Project”), to commence drilling at the second approved core well. The Company has retained the services of the contractors involved in the drilling of the initial core well at the Project, RESPEC Consulting Inc., Major Drilling Group International Inc., and DGI Geoscience Inc., to drill the second core well.
The drilling of the second core well is designed to confirm the depth of the salt rock structures at the Project and attain the geological properties of the salt and non-salt rocks present at the Project. The Company previously announced on December 14th, 2023, that it had intersected salt rock at its first core well at a depth of 581.5 meters.
Paul Sparkes, Chief Executive Officer, commented, “We are pleased to have intersected salt in the first core well which marked a significant milestone for the project. The outcome from the first core well gives us confidence in the potential of the discovery as we prepare to begin drilling on the second core well.”
The Company also announces, further to its news releases on April 28, 2023, June 23, 2023, July 21, 2023, September 1, 2023, October 20, 2023, and November 16, 2023, that it has further extended its engagement of Financial Star News Inc. (“FSN”) (address: 701 West Georgia Street, Suite 1500, Vancouver, British Columbia V7Y 1C6; email: info@thefinancialstar.com) for marketing services for up to an additional 45 days commencing on January 10th, 2024, provided that the term of the marketing services may be extended or shortened at the discretion of management depending on, amongst other things, the efficiency of the marketing services.
As previously disclosed, FSN has and shall continue to, as appropriate, create campaigns, ad groups, text ads, display ads, perform detailed keyword research, setup and manage remarketing campaigns, optimize keyword options, coordinate online advertisers and marketers corresponding to online marketing targets, create landing pages for ad campaigns and generally bring attention to the business of the Company. The promotional activity undertaken by FSN will occur on theFinancialStar.com and by email, Facebook and Google.
The Company will pay a fee of USD $300,000 (plus GST) for the extension. The Company will not issue any securities to FSN as compensation for its marketing services. As of the date hereof, to the Company’s knowledge, FSN (including its directors and officers) does not own any securities of the Company and has an arm’s length relationship with the Company.
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
