Vancouver, British Columbia--(Newsfile Corp. - September 10, 2024) - Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) (" Vortex" or the" Company ") is pleased to announce the commencement of its 3,000-meter, Phase 1 Drilling and Exploration Program at the Illapel Copper Project, located in the Choapa Province of Chile.
As previously announced, "GeoSupply," a Chile-based Geology & Diamond Drilling Services Company, will undertake the drilling program under the supervision of Vortex Metals' geologists.
The Phase 1 drilling program aims to evaluate and advance several high-priority targets within the project area, specifically: 1) the continuity of Cu-Ag mineralization to the north and south of the Rio 27 mine (sites 1, 2, 5 & 6 in Fig. 1) and; 2) the Tata 1 1/6 and Rio 7 1/20 concessions (sites 3 & 4 in Fig. 1), where sampling of veins in outcrops returned significant values in Cu & Au.
Figure 1. Illapel Phase-1 Drill Targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2778/222742_1f22c4a5140cdb80_001full.jpg
Vortex Metals' inaugural drill program will focus on high-priority targets identified during multiple field prospecting campaigns, including the most recent conducted in July of 2024. Dr. John Larson — Director of Vortex Metals and former manager of Latin America Exploration and Global Porphyry Exploration for BHP and BHP Billiton — led this latest fieldwork between July 4th and July 6th, 2024.
The Illapel Copper concessions surround the Rio 27 mine, a fully operational copper mine that has been in production since 2010. The mine has processed approximately 400,000 tonnes of high-grade ore, with an average grade of 1.39% Cu and approximately 7g Ag.
Vikas Ranjan, CEO of Vortex Metals, commented on the significance of this drilling program:"The commencement of this drill program at Illapel marks a pivotal moment for Vortex Metals. Our team has worked diligently to identify these high-priority targets, and this initial phase of drilling is crucial in advancing our understanding of the project's potential. We are committed to delivering results that justify our investors' patience and believe that a significant discovery at Illapel could greatly enhance shareholder value."
Qualified Person / Quality Control and Quality Assurance
Juan Carlos Fernández, 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 a copper-focused exploration and development company with a diversified portfolio of exploration projects in Chile and Mexico. Vortex holds an option to acquire up to 80% interest in the brownfield Illapel Copper Project in Chile and through its Mexican subsidiary Empresa Minera Acagold, S.A. de C.V., it owns 100% interest in two drill-ready high-potential copper-gold volcanogenic massive sulfide (VMS) properties, Riqueza Marina and Zaachila in Oaxaca, Mexico. The company emphasizes responsible exploration, community engagement, and environmental stewardship to meet the rising global demand for copper sustainably.
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 several 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.sedarplus.ca. 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.
The Company cautions that mineralization on, or production from, neighbouring properties is no guarantee of the existence of similar mineralization or a guarantee of future production from the Illapel Project.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222742
