Vortex Energy Announces Commencement of Drilling at the Robinsons River Salt Project
24 Juni 2024 - 2:00PM
Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3)
("
Vortex” or the "
Company") is
pleased to announce the commencement of drilling on the third core
well located at its Robinsons River Salt Project (the
“
Project”), located near Stephenville,
Newfoundland & Labrador. The drilling is being conducted by
Forage FTE Drilling (“
FTE”) and Major Drilling
International Inc, (“
Major
Drilling”) under the support and oversight of the
Company’s consultant partner, RESPEC Consulting Inc.
(“
RESPEC”), a leader in the design, development,
and operations of underground cavern storage.
The Company worked extensively with RESPEC and
the drilling contractors to design a more comprehensive and robust
well design and drilling program for the drilling of the third core
well. While the Company had anticipated commencing drilling in May,
2024, the more comprehensive drilling planned for the third core
well required the submission of an additional “Application for
Exploration Approval” , which was submitted by the Company on April
19th, 2024 and was subsequently approved by the Department of
Industry, Energy, and Technology, Newfoundland and Labrador, on May
31st, 2024.
The Company plans to drill one drill hole to a
total depth of 1,000 meters, using a combination of reverse
circulation and diamond drilling. The objective of the drilling is
to confirm the depth of the salt structures and attain the
geological and geochemical properties of the salt and non-salt
rocks. In addition to the testing and data collection that RESPEC
will complete on any core samples generated from drilling, the
Company will also provide any such core samples to the University
of Alberta for hydrogen testing and sampling. On April 29, 2024,
Vortex’s collaboration with the University of Alberta received
Alberta Innovates Funding totaling $1.2 million for the project
titled “Field Trial of Hydrogen Storage in Canadian Domal and
Bedded Salts.”
Paul Sparkes, Chief Executive Officer,
commented, "We are pleased to announce the commencement of drilling
on the third core well at the Project. We believe that our team and
contractors have created a plan that will address the geological
challenges encountered in the drilling of hole one and hole two. We
are optimistic that this third well will be successful and that it
will allow us to proceed with testing the salt mineralization
encountered during drilling for energy storage applications,
including hydrogen or compressed air energy storage.”
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 Robinson 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 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 Corp. also holds
the Fire Eye Project, which is located in the Wollaston Domain of
northern Saskatchewan, Canada.
On Behalf of the Board of DirectorsPaul
SparkesChief Executive Officer, Director+1 (778)
819-0164info@vortexenergycorp.com
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
Company’s exploration plans at the Project, including the planned
drilling at the Project, the aim and objectives of the drilling and
the generation of drill core from drilling that may be analyzed by
the Company, RESPEC and the University of Alberta; and the
Company’s belief that the design of the current drill program being
undertaken at the Project will address the geological challenges
encountered during the drilling of hole one and two.
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 drilling program, including that it will be successful in
carrying out such drilling and that such drilling will yield the
expected information and the desired outcomes.
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 Project does
not proceed in the manner and on the timeline 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; and that mineral exploration may be
unsuccessful or fail to achieve the results anticipated by the
Company, including as a result of factors beyond the Company’s
control, such as geological conditions. 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.
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