Vortex Metals Hires Drilling Contractor for Phase-1 Drilling at Copper Project in Chile
Rhea-AI Summary
Vortex Metals Inc. (TSXV: VMS, FSE: DM8, OTCQB: VMSSF) has hired GeoSupply, a Chile-based drilling company, for its 3,000-meter Phase-1 drilling program at the Illapel Copper Project in Chile's Choapa Province. GeoSupply offers flexible drilling services with depths up to 1,000 meters and has a strong track record in Chile. The Illapel concession surrounds the Rio 27 mine, which has processed about 400,000 tonnes of high-grade ore (1.39% Cu, 7g Ag) over ten years. This drilling program aims to evaluate high-priority targets to delineate a high-grade copper resource in a prolific copper-producing region. CEO Vikas Ranjan expressed excitement about partnering with GeoSupply, citing their flexibility and fast mobilization as key factors.
Positive
- Initiation of 3,000-meter Phase-1 drilling program at Illapel Copper Project
- Project location adjacent to an operational high-grade copper mine (Rio 27)
- Potential for delineating a high-grade copper resource in a prolific region
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, VMSSF declined NaN%, reflecting a moderate negative market reaction.
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GeoSupply has drilling equipment with core recovery oriented to provide drilling services from surface or subway workings, without angle restriction and with lengths or depths up to 1,000 meters. GeoSupply has its own staff of qualified personnel to meet the operational needs of the field and a stock of accessories, spare parts and systems capable of solving the different types and conditions of the rocks to be drilled. It has worked with several mining and exploration companies in
The Illapel Copper concession surrounds the Rio 27 mine, a fully operational copper mine in production for over ten years, which has processed approximately 400,000 tonnes of high-grade ore, with an average grade of
The phase one drilling program aims to systematically evaluate and advance several high-priority targets within the project area, marking a pivotal step toward the Company's objective to delineate a high-grade copper resource in one of the world's most prolific copper-producing regions.
"We are excited to find a suitable drilling services company for Phase-1 drilling program at Illapel," said President and CEO, Vikas Ranjan. We were looking for a reliable drilling partner that could provide us the type of drilling equipment with most flexibility and fastest mobilization time, which Geosupply provides. We are looking forward to organizing and commencing phase one drill program in coming weeks. We look forward to sharing updates as we progress."
About Vortex Metals Inc.
Vortex Metals Inc. is a copper focused exploration and development company with a diversified portfolio of exploration projects in
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.
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SOURCE Vortex Metals Inc.
FAQ
What is the scope of Vortex Metals' Phase-1 drilling program at the Illapel Copper Project?
Who has Vortex Metals hired for the drilling services at Illapel Copper Project?
What are the capabilities of GeoSupply, the drilling contractor hired by Vortex Metals (VMSSF)?
What is significant about the location of Vortex Metals' Illapel Copper Project?
