23:49:22 EDT Thu 16 May 2024
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Vortex Energy Corp
Symbol VRTX
Shares Issued 70,633,437
Close 2023-09-12 C$ 1.15
Market Cap C$ 81,228,453
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Vortex Energy submits Robinsons exploration application

2023-09-12 15:52 ET - News Release

Mr. Paul Sparkes reports

VORTEX ENERGY SUBMITS DIAMOND DRILLING APPLICATION FOR EXPLORATION APPROVAL FOR THE ROBINSONS RIVER SALT PROJECT

Vortex Energy Corp. has submitted an application for exploration approval to the Mineral Lands Division, Department of Industry, Energy, & Technology, Newfoundland and Labrador, for the 23,500-hectare Robinsons River salt project. The permit application was submitted on Aug. 24, 2023, by Respec Consulting Inc., which is commissioned to conduct the proposed work on behalf of Vortex.

The commodity of interest on the property is halite (salt). A total of two drill sites are proposed with a max 2,500 metres drilled in 2023. Of the metres drilled, a maximum of 1,100 metres will be evaluated using downhole geophysical instrumentation. The company will utilize pre-existing gravel trails within the property boundary with less than four metres clearings for vehicles. These trails need little to no preparation to improve trail conditions. An additional less than kilometres of new access trails will need to be brushed; "brushing" will consist of clearing the trail of material for a skid-mounted rig to travel through and will not involve any line cutting. The pre-existing trails that will be utilized, and the new proposed new access trails necessary to operate can be found in figures available in the original version of this news release.

Two diamond core wells will be drilled to confirm the depth of the salt structures and attain the geological properties of the salt and non-salt rocks. As an integrated company, Respec will lead all required responsibilities to complete the scope of work, including project management, well design, cost estimates, procurement, active drilling management, data collection, testing and technical reporting.

Paul Sparkes, chief executive officer, commented: "We are pleased to have submitted our drilling permit application as a next step in the progress of the Robinson River salt project and look forward to selecting our drilling partner once we receive the necessary approvals. Given the previous work that had been completed on the property, we will have the benefit of using existing infrastructure which will minimize any potential disruption to the footprint."

Qualified person

The technical content of this news release has been reviewed and approved by Piotr Kulkialka, PGeo, who is acting as a consultant to the company and is a qualified person as defined by National Instrument 43-101.

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 composed of a total of 942 claims covering 23,500 hectares located approximately 35 linear kilometres south of the town of Stephenville in the province of Newfoundland and 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 also holds the Fire Eye project, which is located in the Wollaston domain of Northern Saskatchewan, Canada.

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