Vortex Energy Completes High-Resolution UAV Magnetic Survey at the North Block of the Robinsons River Salt Project
December 03 2024 - 7:00AM
Vortex Energy Corp. (CSE:
VRTX | OTC:
VTECF | FRA:
AA3)
(“
Vortex” or the “
Company”) is
pleased to announce the successful completion of a high-resolution
UAV magnetic survey at the north block of the Company’s Robinsons
River Salt Project (“
The Project”) in southwestern
Newfoundland. Conducted by EarthEx Geophysical Solutions, the
survey marks the next step in advancing exploration.
The UAV survey utilized cutting-edge technology
to acquire high-resolution magnetic data across three target areas,
with 25-meter line spacing and precise terrain-following
capabilities. The results successfully identified magnetic
anomalies that reveal structural features across various parts of
the project. These findings suggest that magnetic surveys may be
able to effectively distinguish subsurface structures relating to
salt formations suitable for cavern storage development.
The success of this survey demonstrates the
value of magnetic studies in mapping structural features and
supports the case for expanding geophysical exploration at the
Project. Future magnetic studies, combined with complementary
techniques such as seismic and gravity surveys, could further
refine the understanding of salt deposit occurrences and enhance
targeting for cavern storage potential.
Figure 1 Location of the magnetic surveys in the
project area.
Figure 2 TOP LEFT: Residual magnetic intensity
using a linear colour stretch; TOP RIGHT: First vertical derivative
of the residual magnetic intensity using a linear colour stretch;
BOTTOM LEFT: Residual magnetic intensity with a non-linear colour
stretch; BOTTOM RIGHT: First vertical derivative of the residual
magnetic intensity with a non-linear colour stretch.
The scientific and technical content of this
news release has been reviewed, verified and approved by Jared
Suchan, Ph.D., P.Geo., Technical Advisor at the Company, and a
“Qualified Person” as defined by National Instrument 43-101.
Verification included a thorough review of the magnetic survey
methodologies, data acquisition parameters, and processed results
provided by EarthEx Geophysical Solutions.
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 also evaluating technologies to efficiently store
hydrogen or energy in salt caverns. The Company is also currently
advancing its Fire Eye Uranium Property in the Athabasca Basin, a
region globally renowned for its uranium deposits.
For further information, investors are
encouraged to review the Company’s filings available at
www.sedar.com.
On Behalf of the Board of Directors
Paul Sparkes CEO, Vortex Energy Corp.+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.
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, including that it will be successful in
carrying out the planned 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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0a262ac9-2dac-4e36-8e70-e50fc095cfd1
https://www.globenewswire.com/NewsRoom/AttachmentNg/cec57668-db44-4ea0-900c-bae33f0e7fc7
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