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Vortex Metals Inc
Symbol VMS
Shares Issued 60,080,057
Close 2024-03-11 C$ 0.09
Market Cap C$ 5,407,205
Recent Sedar Documents

ORIGINAL: Vortex Metal's Secures Community Approval for VMS Copper-Gold Zaachila Project

2024-03-12 09:48 ET - News Release

VANCOUVER, BC, March 12, 2024 /PRNewswire/ - Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) ("Vortex Metals" or the "Company") is pleased to announce that Santiago Astata Agrarian Community in Oaxaca, Mexico, has granted authorization to ACAGOLD S.A. de C.V. - Vortex's Mexican subsidiary, to carry out mineral exploration activities, including drilling holes on their lands. These activities will include geological reconnaissance, mapping, opening of trenches, sampling of sediments, soils rocks and core, as well as the rehabilitation of roads and trails, the carrying out of the geophysical study and installing 25 platforms for drilling. This significant milestone marks a pivotal step forward for the company's community relations practices in Oaxaca, Mexico.

Figure 1. Location of the Zaachila project in southern Oaxaca, Mexico. (CNW Group/Vortex Metals)

Furthermore, the company has committed to forming an environmental monitoring committee with active community participation to oversee the activities and ensure environmental protection throughout the exploration program.

This is a significant achievement as it marks a major step forward towards securing the drill permits on Zaachila project with high potential drill ready targets. To obtain drill permits, Vortex Metals needed to complete the Environment Impact Assessment (EIA) study on Zaachila project and receive the community approval. The Company has already completed EIA (Ref: Vortex Metal's new release dated September 6, 2023). With the community approval from Santiago Astata Agrarian Community, the Company now plans to submit the application to The Secretariat of Environment and Natural Resources or Secretaría del Medio Ambiente y Recursos Naturales: (SEMARNAT) for obtaining the necessary drill permits.

Led by Jorge Mario Rios, the community relations consultant, the Company has been working with local communities for over a year to build a strong foundation based on mutual confidence to advance the exploration project.   

"We are grateful for the trust placed in us by the Santiago Astata Agrarian Community," commented CEO Vikas Ranjan, "This authorization reflects our commitment to transparent communication, environmental stewardship, and fostering mutually beneficial relationships with local communities. We are determined to advancing the exploration and potential discovery of an entirely new copper-gold Volcanogenic Massive Sulphide (VMS) belt in the state of Oaxaca, Mexico."

About Vortex Metals 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.

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