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Vortex Energy Corp
Symbol VRTX
Shares Issued 62,669,254
Close 2023-06-23 C$ 1.23
Market Cap C$ 77,083,182
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Vortex Energy outlines two salt structures at Robinsons

2023-06-23 06:45 ET - News Release

Mr. Paul Sparkes reports

VORTEX ENERGY UNVEILS 3D GEOLOGY MODEL OF THE ROBINSONS RIVER SALT DOME PROPERTY

Vortex Energy Corp. has completed the 3-D geology model of the Robinsons River salt project. The work was completed by the company's contracted consultant partner, Respec Consulting Inc., a global leader in geology, geophysical and engineering work with direct experience in underground hydrogen storage caverns.

Based on its interpretation of the ground gravity and seismic data related to the project, Respec generated a 3-D geology model to represent the extent and thickness of the salt structures. Based on this 3-D geology model, both the East salt structure and the West salt structure have the potential capacity to hold salt caverns with storage volume exceeding two million cubic metres per cavern.

The company notes Respec is currently working on estimating the total number of caverns that can be solution mined in these salt structures and the potential total hydrogen storage capacity of the cavern field.

Highlights:

  • Seismic and ground gravity data were used to interpret the evaporite geology at the project.
  • The data confirmed the presence of two major salt structures with a maximum thickness of at least 1,800 metres.
  • The estimated thickness of these salt structures is comparable with the thickness of the world's largest hydrogen project under construction -- the Aces delta in Utah.
  • The East salt structure spans an area of approximately 7,000 metres by 3,400 metres, whereas the West salt structure spans an area of approximately 7,100 metres by 3,600 metres.
  • Both salt structures have the potential capacity to hold salt caverns with storage volume exceeding two million cubic metres per cavern.

Vortex is planning to drill core wells in each of these salt structures and perform laboratory testing to: (1) identify the variations in the stratigraphy in the potential cavern interval; and (2) confirm the quality of salt. Information obtained from the core well and laboratory testing programs is expected to provide valuable insight into the planning and designing of the subsurface cavern field.

Paul Sparkes, chief executive officer of Vortex, commented: "We are very pleased with the results of Respec's 3-D mapping. Respec has a unique ability to draw from world-class projects, including those being developed on the U.S. Gulf Coast, home to hundreds of storage caverns, and apply it to the project. Based on the findings of the 3-D mapping exercise, we believe that Vortex is well positioned to become a leader in the hydrogen storage space in Canada."

Qualified person

The technical content of this news release has been reviewed and approved by Tabetha Stirrett, PGeo, who is acting as a consultant for the Robinsons River salt project, in accordance with regulations as defined by National Instrument 43-101. Ms. Stirrett is currently a professional geologist (No. 10699) registered in Saskatchewan and is currently awaiting her professional registration with the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL). With extensive experience in salt and potash evaluation projects for brine, cavern and solution mining properties worldwide, she is a specialist in exploration planning. Her expertise lies in assessing the feasibility of evaporite projects for development.

About Vortex Energy Corp.

Vortex Energy 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, located approximately 35 linear kilometres south of the town of Stephenville in the province of Newfoundland and Labrador covering over 17,000 hectares. Leveraging the Robinson River salt project, the company is also exploring the development of technologies to efficiently store green hydrogen in salt caverns. Vortex also holds the Fire Eye project, which is located in the Wollaston domain of Northern Saskatchewan, Canada.

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