The Company is mobilizing for the commencement of drilling activities at the Robinson River Salt Project’s second approved core well
VANCOUVER, British Columbia, Jan. 10, 2024 (GLOBE NEWSWIRE) -- 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
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 planned exploration activities, the timing of such planned exploration activities and the aim and objectives of the Company’s planned exploration efforts; the potential of the Project; and the expected term of the marketing activities contracted for by the Company.
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; that the results of the Company’s exploration activities to date are representative of the actual geological conditions and mineralization at the Project; the efficacy of the Company’s marketing program; and the Canadian Securities Exchange’s acceptance of the Company’s promotional program.
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; that mineral exploration activities are often unsuccessful; that the Company’s marketing program may not be as effective as anticipated by the Company and that the budget for the Company’s marketing program may not be sufficient to permit the marketing activities to continue for the anticipated term; and that the Canadian Securities Exchange may object to the Company’s promotional program and use its discretion to halt the Company’s promotional activities or impose other penalties on the Company. 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 has not reviewed, approved, or disapproved the contents of this press release.
