VANCOUVER, BC, Jan. 17,
2024 /CNW/ - Vortex Metals Inc. (TSXV: VMS) (FSE:
DM8) (OTCQB: VMSSF) is pleased to provide a summary of significant
2023 achievements and unveils its growth strategy for 2024, aiming
to enhance shareholder value.
2023 Highlights:
New Project Acquisition and Expansion of Asset
Portfolio
Illapel Copper Project Agreement: Vortex signed a
Definitive Agreement to acquire up to 80% ownership in the Illapel
Copper Project, in Chile's Choapa
province. The Definitive Agreement provides the Company with
exposure to a significant copper asset in a premier mining
jurisdiction.
Chile is the world's largest
copper producer and the Illapel project is in a known mining area
surrounded by multiple producers. Former BHP Latin America,
Exploration Manager for copper, and member of the board of
directors for Vortex Metals, Dr. John
Larson, will be overseeing the upcoming drill program at the
Illapel project.
Project & Environmental Work in Mexico
- Environmental Impact Assessments (EIA) Completion: At
the Riqueza Marina & Zaachila projects in Oaxaca, Mexico, comprehensive environmental
assessments have been completed. The assessments included detailed
trenching, sampling, and mapping Pending community approval, these
assessments, will form the basis of an Environmental Impact
Assessments (EIA) report, to be submitted to the Federal
Environmental Office, SEMARNAT for drill permits.
- Surface Geological Work Completion: At Riqueza Marina,
Vortex completed extensive geological work at the Rhyolite Dome
area and, on the copper-rich gossans to the east and west. A total
of six trenches measuring 188 meters and yielding 117 rock chip
samples were completed. The comprehensive program greatly enhanced
the understanding of the gravity and magnetic surveys previously
conducted, which revealed a significant geophysical anomaly
adjacent to a rhyolitic dome and multiple drill targets along the
5km gossan zone.
Community Engagement in
Mexico
The Company engaged well known Community Relations expert
Jose Mario Rios to engage with the
local communities at both Zaachila
and the Riqueza Marina Projects. As a result, stakeholders (in
seven communities and their authorities) have been engaged
regarding the proposed mineral exploration activities. Vortex
anticipates that both Assemblies will be in a position to address
the community approval required for obtaining drilling permits in
Q1/Q2.
Global Presence and Market
Expansion in 2023
Vortex participated in the CM-Equities Conference in
Munich, Germany, and the 121
Mining Conferences in New York and
London, providing an opportunity
to expand our shareholders and investor base.
The company obtained listing on the OTCQB market in the United States, as well as commenced
trading Germany on the FSE,
broadening our global outreach.
Looking Ahead in
2024
CEO Vikas Ranjan commented: "We
believe that 2024 will be a key year for Vortex, as the company
will be advancing towards permitting both VMS projects in
Mexico while advancing the highly
prospective brownfield Illapel project in Chile. The Illapel project is adjacent to the
Rio 27 mine, which has processed approximately 400,000 tonnes of
ore at an average grade of 1.39% copper. Our senior geologist
John Larson has identified highly
prospective drill targets adjacent to and along the strike from the
Rio 27 mine. We are excited to begin the process of first phase of
drilling once the transaction is approved by the TSX Venture
Exchange.
2024 Catalysts
Illapel Project Drill-Ready Targets: Vortex has
identified the first-phase drilling targets on the fully permitted
Illapel Project:
- North & South of Rio 27 Mine: Mineralization extending
along strike from the Rio 27 mine.
- Epithermal Gold-Copper Targets: Mapping and drilling of
epithermal veins in the concession's western portion.
Advancing Zaachila & Riqueza Marina
Projects: The Company will continue to engage with the
local communities at Zaachila and
Riqueza Marina. We are confident that it will lead to a strong
social license benefitting both the Communities and the company for
years to come as Vortex advances the exploration and potential
discovery of an entirely new copper-gold Volcanogenic Massive
Sulphide (VMS) belt in the state of Oaxaca, Mexico."
The Company also announces that it has granted 750,000 options
at a strike price of C$0.10 to
several consultants and to Independent Board Members. Management
will not be participating in this option grant. These options will
vest quarterly over a period of one year.
As we enter 2024, Vortex Metals is powered by a dedicated team
of scientists and executives, focused on delivering substantial
value to our stakeholders. We are grateful to our shareholders for
their continued trust and support in our journey towards a
prosperous future. Vortex intends to actively market the Company in
2024, a schedule of events will be released shortly.
About Vortex Metals 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 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 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 several 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.
The Company cautions that mineralization on, or production from,
neighbouring properties is no guarantee of the existence of similar
mineralization or a guarantee of future production from the Illapel
Project.
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