Vortex Energy Corp. Provides Update on Drilling at the Robinsons River Salt Project
February 07 2024 - 7:00AM
Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3)
("
Vortex" or the "
Company"),
provides an update on drilling of the second approved core well at
its Robinsons River Salt Project, located near Stephenville,
Newfoundland & Labrador.
The Company commenced drilling on the second
core well on January 16, 2024, which was drilled in the western
gravity anomaly at the Robinsons River Salt Project. The well
reached a depth of 275 metres without significant issues, with the
overlying strata up to this depth comprised of unconsolidated
sediments, siltstone, and mudstone. However, the Company was
required to halt drilling because of a hydraulic pump failure which
necessitated repairs. During the time drilling was halted, the open
hole's condition worsened as the soft sediments interacted with
water in the hole. The drilling rods were twisted off while reaming
and rehabilitating the unstable formation. Recovery efforts of the
rods were unsuccessful. The hole was ultimately abandoned because
of the obstruction caused by the broken rods, which rendered
further drilling unfeasible. The hole will be sealed with cement.
Vortex is assessing the feasibility of drilling a new hole at the
same location.
Paul Sparkes, CEO and director of Vortex,
commented, "While we encountered challenges during the drilling of
hole two, overall, we are pleased with the data accumulated and the
direction of the program. We are well funded for further
exploration and are revamping our second phase with updated
geological information."
Qualified Person
Piotr Kukialka, P.Geo, a consultant to the
Company and a qualified person as defined by National Instrument
43-101 - Standards of Disclosure for Mineral Projects, has reviewed
and approved the scientific and technical content of this press
release.
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 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.
On Behalf of
the Board of Directors
Paul 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.
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. 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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