VANCOUVER, BC, Oct. 4, 2023
/CNW/ - Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTC: VMSSF)
("Vortex" or the "Company") is pleased to announce the initiation
of field studies at the Riqueza Marina project located in southern
Oaxaca (Figure 1). Work has
focused on the Rhyolite Dome area and has moved westward toward the
copper-bearing gossans of the Laminas zone (Figure 2) which may
represent a Cu-rich stringer zone in the footwall of a VMS deposit.
To date, six manually excavated trenches have been completed
totaling 188 meters and 117 rock chip samples, with the sampling
results anticipated in October.
Initial mapping has identified broad exposures of iron- and
manganese-rich exhalite horizons (Figure 2), silicified rhyolite
flows and altered metasediments across which the 6 trenches have
been excavated. The Company's near-term hope is to provide better
geologic context for the Cu-bearing gossan at Las Laminas (Figure
2) and the pronounced geophysical anomaly identified in the
Rhyolite Dome target area and beneath the adjacent corn fields
(Figure 4).
Ongoing compilation of the historic rock sampling in the Laminas
gossan (Figure 2), in conjunction with the preliminary geologic
map, suggest an easterly dip for the mineralized package (mapped as
'sedimentary rocks') and beneath the weakly metamorphosed volcanic
units hosting narrow, discontinuous silica exhalite lenses. Further
east, altered rhyolite flows of the Rhyolite Dome target area cap
the weakly metamorphosed Jurassic rocks. Figure 4 reveals the
surface geology surrounding the Rhyolite Dome along with the
trenches of Phase 1.
Figure 3 reveals a sectional view of the project area where the
Laminas gossan dips shallowly to the east and beneath the
exploration area, including the Rhyolite Dome target (Figure 4).
The dip of the prospective horizon is uncertain and surface
measurements suggest it may be flatter. The resumption of work here
will likely include additional mapping and
sampling, hyperspectral studies of the altered rocks and
geophysics. A more detailed analysis of the geochemical data will
be completed once the results are available.
Qualified Person / Quality Control
and Quality Assurance
Robert Johansing, M.Sc. Econ.
Geol., P. Geo., is a qualified person ("QP") as defined by NI
43-101 and has reviewed and approved the technical content of this
press release.
About Vortex Mines 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-gold 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-gold 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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SOURCE Vortex Metals