VANCOUVER, BC, May 25, 2023
/CNW/ - Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTC: VMSSF)
("Vortex" or the "Company") is excited to announce the initiation
of surface geological work at its Riqueza
Marina Copper project in Southern
Oaxaca, Mexico. The project comprises three mineral
concessions spanning a total area of 12,041 hectares. Geologic
activities are intended to provide better geologic context for the
historical work and the design of a drilling program.
Building upon a decade of previous work conducted by the late
David M. Jones, co-founder of
Vortex, and his field crew, which included geochemical sampling and
geophysics (as outlined in the Company's NI 43-101 report filed on
Sedar), Vortex has identified five highly prospective copper
mineralization targets at Riqueza Marina.
Following the recent community approval granted on April 19th, 2023, by the community of Santa Cruz
Tagolaba, Vortex Metals is now able to commence a surface
geological work, including trenching, over a large area
encompassing one of the critical target areas known as the
"Rhyolite Dome". This comprehensive investigation aims to enhance
the understanding of the gravity and magnetic surveys previously
conducted, which revealed a significant geophysical anomaly
adjacent to a rhyolitic dome. The Rhyolite Dome has been
prioritized as a drilling target due to its substantial size and
coincident magnetic and gravity highs along with anomalous copper
values (see figure) interpreted to reflect a concealed sulfide
deposit.
Vortex Metals remains committed to upholding responsible and
sustainable practices, emphasizing environmental stewardship and
community engagement.
Vikas Ranjan, Chief Executive
Officer of Vortex Metals, expressed his enthusiasm, stating, "The
commencement of our surface geologic studies at and around the
Rhyolite Dome target marks a pivotal milestone for Vortex, enabling
us to gain a more profound understanding of the area in preparation
for drilling permits." He added "The approval to conduct surface
geological work is a result of continuous engagement with local
communities and their leadership. This step will further enhance
Company's engagement with local communities as the stated work will
result in hiring local resources, further serving the
communities."
Qualified Person / Quality Control
and Quality Assurance
Robert Johansing, M.Sc. Econ.
Geol., P. Geo., is a qualified person ("QP") as defined by NI
43-101 and has reviewed and approved the technical content of this
press release.
About Vortex Metals Inc.
Vortex Metals Inc. is the parent company of Mexican subsidiary
Empresa Minera Acagold, S.A. de C.V., which is the owner of a 100%
interest in two drill-ready high-potential
copper volcanogenic massive sulfide (VMS) properties
(Riqueza Marina and Zaachila)
in the state of Oaxaca, and a third high-potential gold
property (El Rescate) in the state of Puebla.
The Oaxaca projects incorporate the most highly
prospective areas of high-grade copper mineralized surface
exposures ('gossans') and prominent gravity anomalies along an
emerging copper VMS belt that includes Minaurum Gold's
(TSXV:MGG) Santa Marta project.
Forward-Looking
Statements
This press release may contain forward looking statements that
are made as of the date hereof and are based on current
expectations, forecasts and assumptions which involve risks and
uncertainties associated with our business including permitting
approvals, any private placement financings, the uncertainty as to
whether further exploration will result in the target(s) being
delineated as a mineral resource, capital expenditures, operating
costs, mineral resources, recovery rates, grades and prices,
estimated goals, expansion and growth of the business and
operations, plans and references to the Company's future successes
with its business and the economic environment in which the
business operates. All such statements are made pursuant to the
'safe harbour' provisions of, and are intended to be
forward-looking statements under, applicable Canadian securities
legislation. Any statements contained herein that are statements of
historical facts may be deemed to be forward-looking statements. By
their nature, forward-looking statements require us to make
assumptions and are subject to inherent risks and uncertainties. We
caution readers of this news release not to place undue reliance on
our forward-looking statements as a number of factors could cause
actual results or conditions to differ materially from current
expectations. Please refer to the risks set forth in the Company's
most recent annual MD&A and the Company's continuous disclosure
documents that can be found on SEDAR at www.sedar.com. The
Company does not intend, and disclaims any obligation, except as
required by law, to update or revise any forward-looking statements
whether as a result of new information, future events or
otherwise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Vortex Metals