VANCOUVER, BC, March 7, 2023 /CNW/ - Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) ("Vortex" or the "Company") is pleased to provide a progress update on the environmental works completed to date at the company's flagship Riqueza Marina project in southern Oaxaca, Mexico. The Riqueza Marina project consists of 12,041 hectares and is located approximately 15 km from the Salina Cruz deep-water port on the Pacific coast of the Mexican state of Oaxaca.
Environmental works first began in February 2020, contracted by the company's co-founder, the late David Jones. Under the direction of Mexican environmental firm "ASSI", activities were carried out by a team of five specialists in fauna and flora, as well as a group of supporting field staff. Data was gathered on 7 land uses as defined by the National Institute of Statistics Geography (INEGI), and informatics.
After completing the fieldwork, the collected data was interpreted and organized according to predetermined formats required by "The Secretariat of Environment and Natural Resources" (SEMARNAT). The company is pleased to announce that 100% of the environmental work activities have now been completed, these include the following:
- Elaboration of 8 chapters of the EIA
- Maps
- Field work on flora and fauna
- Photographic survey
- Analysis and elaboration of correction measures
- Comparative analysis of impacts and effects on the environment
- Analysis of the environmental diagnosis of impacts with and without the "Environmental Gap" project
- Integration
- Assembly and printing of the text
The company's head geologist Robert Johansing has reviewed all chapters of the EIA and was satisfied with the information presented.
Additionally, as per the company's previous news release, Vortex Metals has been working diligently to engage community stakeholders and expects support to continue as a clear line of communication and beneficial relationship is established. Once the general assembly confirms and seals the agreements, the EIA application can be submitted to SEMARNAT, and a summarized version of the application will be circulated in the newspaper with the highest circulation. This will complete the delivery of the EIA and begins the process at the government agency.
Vikas Ranjan, Chief Executive Officer of VMS commented: "We are very pleased with the completion of environmental works at Riqueza Marina and are looking forward to the submission of the EIA application in the coming months. Along with support from local stakeholders, a favourable EIA outcome will enable Vortex to test the multiple high-grade targets identified by the late Dave Jones, our co-founder and world renown geologist."
About Vortex Mines 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.
SOURCE Vortex Metals
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For further information regarding this press release contact: Vikas Ranjan, Chief Executive Officer and Director, Email: vranjan@vortexmetals.ca, Phone: 416-605-7024