Vortex Metals Commences Surface Geological Work at the Riqueza Marina Copper Project in Mexico
VANCOUVER, May 25, 2023 - 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."
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.
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.
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
For further information regarding this press release contact: Vikas Ranjan, Chief Executive Officer and Director, Email: email@example.com, Phone: 416-605-7024