Vortex Metals Announces Results from Surface Sampling Program at Illapel Project, Chile
Rhea-AI Summary
Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) has announced results from its recent surface sampling program at the Illapel Copper Project in Chile. The program, conducted in July 2024, yielded promising results with 8 out of 13 samples showing significant copper mineralization above 1.0%. Notable findings include:
- Sample 1021: 0.62 g/t gold and 1.33% copper
- Sample 1019: 75.2 g/t silver and 4.31% copper
- Sample 1029: 32.6 g/t silver, 0.21 g/t gold, and 5.85% copper
The results suggest potential for high-grade copper and precious metal deposits. The project area shows evidence of two distinct mineralization styles: Mantos (Cu-Ag) and Epithermal Vein Systems (Cu-Au). Elevated levels of iron, molybdenum, and cobalt were also identified.
Positive
- 8 out of 13 surface samples showed significant copper mineralization above 1.0%
- High-grade copper findings, with samples reaching up to 5.85% copper
- Presence of precious metals (gold and silver) in the samples
- Identification of two distinct mineralization styles: Mantos and Epithermal Vein Systems
- Elevated levels of associated elements (iron, molybdenum, cobalt) provide additional insights into mineralization
Negative
- None.
News Market Reaction – VMSSF
On the day this news was published, VMSSF gained 15.34%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - September 17, 2024) - Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) (" Vortex" or the" Company ") is pleased to announce results from the recent surface sampling program conducted at the Illapel Copper Project in Chile. The program, executed during the month of July, 2024, focused on evaluating mineralization across several key areas within the project concessions.
Program Highlights
Dr. John Larson, Director of Vortex Metals and former Manager of Latin America Exploration for BHP and BHP Billiton, led the fieldwork at Illapel. Dr. Larson and his team collected 13 surface samples, which were subsequently sent to ALS Laboratories in Santiago for multi-element analysis.
Preliminary results indicate significant copper mineralization, with 8 out of the 13 samples revealing significant copper mineralization above
Sample 1021: 0.62 grams per ton (g/t) gold and
1.33% copper.Sample 1019: 75.2 g/t silver, and
4.31% copper.Sample 1029: 32.6 g/t silver, 0.21 g/t gold, and
5.85% copper.
These results suggest that the Illapel project has the potential to host high-grade copper and precious metal deposits, highlighting its economic viability.
Fig 1. Location of samples collected in July, 2024, Illapel project.
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Table 1. Selected elements analyzed in the 13 surface samples.
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In addition to copper, gold and silver, the program identified elevated levels of associated elements such as iron, molybdenum, and cobalt, providing further insight into the style of mineralization within the project area. The results confirm that the Illapel concessions have the potential to host at least two distinct styles of mineralization:
Mantos - Predominantly Cu-Ag mineralization.
Epithermal Vein Systems - Characterized by Cu-Au mineralization. The Company has also collected bulk samples to produce standards for quality control in future drill-core analysis, ensuring the accuracy and reliability of exploration results.
Photo 1,2,3. Sample 1021, quartz barite vein - Sample 1028, specularite and oxidized copper veins, with malachite - Sample 1018, andesite agglomerate.
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Qualified Person / Quality Assurance and Quality Control (QAQC)
Juan Carlos Fernández, 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 Metals Inc.
Vortex Metals Inc. is a copper focused exploration and development company with a diversified portfolio of exploration projects in Chile and Mexico. Vortex holds an option to acquire up to
Contact Information:
Vikas Ranjan, President and CEO
vranjan@vortexmetals.ca
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.sedarplus.ca. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223511
FAQ
What were the key findings of Vortex Metals' surface sampling program at the Illapel Project in Chile?
What types of mineralization styles were identified at the Illapel Copper Project?
When was the surface sampling program conducted by Vortex Metals (VMSSF) at the Illapel Project?
Who led the fieldwork for Vortex Metals (VMSSF) at the Illapel Copper Project?
