VANCOUVER, British Columbia, April 16, 2024 (GLOBE NEWSWIRE) — Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) (“Vortex” or the “Company”) is pleased to announce that it has shipped core samples from the initial hole drilled at the Robinsons River Salt Project to the University of Alberta.
The Company’s consultant, RESPEC Consulting Inc. (“RESPEC”), has conducted core logging on the cap rock and salt sections obtained from Core Hole 1 (VTX-West-23-1). The cap rock is predominantly anhydrite, intermixed with mudstones, while the salt rock is primarily composed of halite, featuring zones of intermixed mudstones and occasional potash salts such as carnallite and possibly sylvite. RESPEC has selected and shipped samples to the University of Alberta, which will perform various tests to delineate the material properties of the cap rock and salt. The planned tests include thin-section analysis using SEM (Scanning Electron Microscope) for visual mineral identification, EDS (Energy Dispersive X-ray Spectroscopy) for elemental composition and percentages, and XRD (X-ray Diffraction) for crystalline mineral identification and percentages. Additional tests will assess insoluble mineral percentages, diffusion, and various geomechanical tests to identify the exact minerals present in the core and determine the structural and mechanical properties of the formations.
The Company also announces that it has granted 1,000,000 restricted share units (“RSUs”) to certain directors, officers, and consultants of the Company pursuant to the Company’s equity incentive plan (the “Plan”).
Qualified Person
The technical content of this news release has been reviewed and approved by Piotr Kulkialka, P.Geo, who is acting as a consultant to the Company and is a “Qualified Person” as defined by National Instrument 43-101.
For a discussion of the Company’s data verification and Quality Control / Quality Assurance processes, please refer to the Company’s technical report entitled, “Independent Technical Report On The Robinsons River Salt Property”, which is posted to the Company’s SEDAR+ profile.
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 Directors
Paul Sparkes
Chief Executive Officer, Director
+1 (778) 819-0164
[email protected]
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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