12:44:57 EDT Mon 20 May 2024
Enter Symbol
or Name
USA
CA



Vortex Metals Inc
Symbol VMS
Shares Issued 79,449,468
Close 2024-04-30 C$ 0.12
Market Cap C$ 9,533,936
Recent Sedar Documents

Vortex Metals receives cond. OK for Illapel interest

2024-05-01 10:28 ET - News Release

Mr. Vikas Ranjan reports

VORTEX METALS SECURES CONDITIONAL APPROVAL FOR ILLAPEL COPPER PROJECT

Vortex Metals Inc. has received conditional approval from the TSX Venture Exchange for its proposed acquisition of up to an 80-per-cent interest in the Illapel copper project in Chile. This milestone follows the letter of intent (LOI) signed on June 27, 2023, and the definitive agreement executed on Nov. 20, 2023.

The company remains engaged with the exchange to address any remaining queries and will promptly inform the market upon receiving final approval.

Upon securing final approval, Vortex will initiate a first-pass exploration program, which includes:

  • Immediate testing of high-priority, drill-ready targets north and south of the Rio 27 mine;
  • Detailed mapping, sampling and drilling of the epithermal vein targets in the western concession area;
  • Initiation of mapping and sampling across promising structures, including ocoite dikes and proximal copper sulphides and which have been identified throughout the project area.

This program aims to swiftly evaluate high-priority targets while expanding the company's regional geological exploration to discover new drilling sites.

Vortex is committed to continuous collaboration with the exchange to secure final approval and will keep its shareholders and the broader market informed, underscoring the company's commitment to enhancing shareholder value through this strategic acquisition.

Qualified person: All technical information in this press release has been reviewed and approved by Robert J. Johansing, (BSc, geology, MSc, economic geology, QP MMSA, a certified professional geologist) who is a qualified person for purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Johansing is independent from the company.

About Vortex Metals Inc.

Vortex Metals is the parent company of Mexican subsidiary Empresa Minera Acagold SA de CV, which is the owner of a 100-per-cent interest in two drill-ready high-potential copper volcanogenic massive sulphide (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 volcanogenic massive sulphide belt that includes Minaurum Gold's Santa Marta project.

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