Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3)
(“
Vortex” or the “
Company”) is
pleased to announce that the Company has received approval from the
Mineral Lands Division, Department of Industry, Energy &
Technology, Newfoundland and Labrador, of its Application for
Exploration Approval for the 23,500 hectare Robinsons River Salt
Project (the “
Property”). The permit application
was submitted on August 24th, 2023 by RESPEC Consulting Inc.
(“
RESPEC”) who has been commissioned to conduct
the proposed work on behalf of Vortex.
The drilling permit allows for two diamond cored
wells to be drilled on the Property (see Figure 1 below). The wells
are designed to confirm the depth of the salt rock structures and
attain the geological properties of the salt and non-salt rocks. As
an integrated company and an expert in salt cavern development,
RESPEC will lead all required responsibilities to complete the
planned exploration work, including project management, well
design, procurement, active drilling, core recovery and wireline
management, data collection, testing and technical reporting. The
Company will also provide core samples to the University of Alberta
for hydrogen testing and sampling as part of the recently announced
collaborative research partnership between Vortex and the
University of Alberta.
Paul Sparkes, Chief Executive Officer,
commented, “We are excited to move forward with this inaugural
diamond core drilling program on the Property. The Company will use
the funds that it was awarded under the Junior Exploration
Assistance Mineral Incentive Program towards this drilling
program.”
Sparkes continued, “We believe the Robinsons
River Salt project could become a cornerstone of economic growth in
the region and we look forward to continuing to liaise with the
local community with respect to the project.”
The Company is committed to working closely with
the local community and government agencies in an effort to ensure
that the Company’s exploration program on the Property meets all
environmental and safety standards.
Figure 1: Robinsons River Drill
Site A & B
Qualified Person
The technical content of this news release has
been reviewed and approved by Piotr Kulkialka, P.Geo, who is acting
as a consultant to the Company and is a “Qualified Person” as
defined by National Instrument 43-101.
About RESPEC Consulting
Inc.
RESPEC is a global leader in diverse
technologies and draws from a wide array of expertise, products,
and services to deliver world-class solutions for business, mining,
energy, water, natural resources, urban development,
infrastructure, and enterprise services. RESPEC’s subsurface
experts have evaluated over 1,000 caverns in nearly every major
cavern storage region in the world. RESPEC’s over 50-year history
underground has helped to pioneer in-house specialty software and
rock lab testing that focuses on designing solution-mined and
conventionally mined storage caverns. RESPEC also plays a similar
role with the ACES Delta in Utah, the world’s largest green
hydrogen project under construction.
About Vortex Energy Corp.
Vortex Energy Corp. 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 Robinsons River Salt Project comprised of a
total of 942 claims covering 23,500 hectares located approximately
35 linear kms south of the town of Stephenville in the Province of
Newfoundland & Labrador. The Robinsons 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 Corp. also holds
the Fire Eye Project, which is located in the Wollaston Domain of
northern Saskatchewan, Canada.
Cautionary Note Regarding
Forward-Looking Statements
Certain statements contained in this press
release constitute forward-looking information. These statements
relate to future events or future performance. The use of any of
the words “could”, “intend”, “expect”, “believe”, “will”,
“projected”, “estimated” and similar expressions and statements
relating to matters that are not historical facts are intended to
identify forward-looking information and are based on the Company’s
current beliefs or assumptions as to the outcome and timing of such
future events. In particular, this press release contains
forward-looking information relating to, among other things, the
exploration plans of the Company for the Property, including the
nature and type of the Company’s exploration activities, the timing
of such exploration activities and the aim of the Company’s
exploration efforts; the expected benefits of the Company’s use of
RESPEC to complete the proposed exploration activities; the
prospect of the Property becoming a cornerstone of economic growth
in the region; and the Company’s ability to comply with all
applicable environmental and safety standards.
Various assumptions or factors are typically
applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information, including, in
respect of the forward-looking information included in this press
release, assumptions regarding the Company’s ability to execute on
its exploration plans for the Property, including that it will be
successful in carrying out such exploration activities and that
such exploration activities will accomplish yield the expected
information and the desired outcomes; that the Company’s use of
RESPEC to carry out the exploration activities will yield the
anticipated benefits to the Company and the Property; that the
Company’s exploration and development activities on the Property
will be successful and that the Company will be successful in
developing the Property into an economically beneficial commercial
project; that the Company will be successful in its efforts to
comply with all applicable environmental and safety standards.
Although forward-looking information is based on
the reasonable assumptions of the Company’s management, there can
be no assurance that any forward-looking information will prove to
be accurate. Forward looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking information. Such factors include,
among other things, the risk that exploration at the Property does
not proceed in the manner currently contemplated, or at all; risks
inherent in the exploration and development of mineral deposits,
including risks relating to receiving requisite permits and
approvals, changes in project parameters or delays as plans
continue to be redefined, that mineral exploration is inherently
uncertain and that the results of mineral exploration may not be
indicative of the actual geology or mineralization of a project;
that mineral exploration may be unsuccessful or fail to achieve the
results anticipated by the Company; that the Company’s use of
RESPEC to carry out the Company’s exploration program may not yield
the anticipated benefits to the Company or the Property; that
mineral exploration and development activities are often
unsuccessful and that the Company may fail to develop the Property
into an economically beneficial commercial project; and that the
Company may not be successful in complying with all applicable
laws, whether as a result of changes in these laws or the
application of these laws or otherwise. The forward-looking
information contained in this release is made as of the date
hereof, and the Company not obligated to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing
statements expressly qualify any forward-looking information
contained herein.
The Canadian Securities Exchange (CSE) has not
reviewed, approved, or disapproved the contents of this press
release.
On Behalf of the Board of
Directors
Paul SparkesChief Executive Officer, Director+1
(778) 819-0164info@vortexenergycorp.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5716a38e-0b9e-4347-a197-ca891b075230
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