Vortex Metals Provides Exploration and Geophysics Update
Rhea-AI Summary
Vortex Metals (TSXV: VMS, OTCQB: VMSSF) has completed Phase 1 exploration at the Illapel Copper Project in Chile, consisting of eight diamond drill holes totaling 2,025 meters. The program targeted copper-silver mineralization near the Rio 27 mine and copper-gold-bearing veins on the southwestern border.
All holes intersected lower grade sulphide mineralization and hydrothermal alteration, with multiple intercepts of disseminated pyrite, chalcopyrite, chalcocite and bornite. Notably, hole DVM-08 encountered strong chalcocite and bornite mineralization over 0.60m width, consistent with high-grade copper-silver mantos at Rio 27 mine.
The company is conducting down-hole electromagnetic geophysics to test for lateral extensions. The project shows Iron Oxide Copper Gold (IOCG) mineralization and is located in the same sequence as the El Espino IOCG Deposit (150 million tonnes at 0.55% copper and 0.22 gpt gold) situated 13 km WNW.
Positive
- Discovery of strong chalcocite and bornite mineralization in hole DVM-08
- Project location in same geological sequence as significant El Espino IOCG Deposit
- Successful completion of Phase 1 exploration program with mineralization found in all holes
Negative
- Most drill holes showed only lower grade sulphide mineralization
- Core sample results still pending, no confirmed grades available
News Market Reaction 1 Alert
On the day this news was published, VMSSF gained 1.82%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - February 6, 2025) - Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) ("Vortex" or the "Company") is pleased to announce that it has completed Phase 1 exploration, with eight holes diamond drill program for a total of 2,025 m, at the Illapel Copper Project located near Illapel, Chile.
Four holes targeted copper-silver mineralization along strike from the Rio 27 mine and four holes tested the area of cooper-gold-bearing veins on the southwestern border of the concession package. Lower grade sulphide mineralization and hydrothermal alteration were intersected in all holes, with multiple intercepts of disseminated pyrite, chalcopyrite, chalcocite and bornite. The drill cores have been sampled, some cores have been sent to the laboratory and sampling is in the process, results are pending.
The initial intercepts constitute disseminated mineralization, however, in hole DVM-08 an intercept of strong chalcocite and bornite mineralization was encountered over a width of 0.60 m. This is consistent with the high-grade copper-silver mantos found at the Rio 27 mine. This intercept may represent the edges or borders of a larger manto-style lens, and a program of down-hole electromagnetic geophysics is underway to test for lateral extensions away from the hole. Results are pending.
The Illapel Copper Project has multiple exposures of copper mineralization at surface in association with NNE-trending structures and cross-cutting ocoite dykes. Based on hole DVM-08 and upon the evaluation of geochemical and geophysical results, and additional field-mapping, additional drilling is currently being planned.
Iron Oxide Copper Gold (IOCG) mineralization was observed in the initial drill holes within a sequence of volcanic and sedimentary rocks. The Company also sampled the IOCG target area located approximately 4km to the northeast. Additional geological sampling and geophysics are planned to determine drill targets. The Vortex IOCG target is located in the same sequence of rocks as the 150 million tonne, El Espino IOCG Deposit grading 0.55 % copper and 0.22 gpt gold, located 13 km to the WNW.
"The initial drilling has shown that our geological model is correct. We now need to focus on vectoring toward the cross-cutting features as seen at the Rio 27 Mine. I am also pleased that we are developing drill targets on the key IOCG zone," said President, Co-Founder and CEO, Vikas Ranjan.
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
For further information regarding this press release, contact:
Vikas Ranjan,
Chief Executive Officer and Director
Email: 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/239838
FAQ
What are the initial drilling results from Vortex Metals' (VMSSF) Illapel Copper Project?
How many meters were drilled in Vortex Metals' (VMSSF) Phase 1 exploration?
What is the significance of the El Espino IOCG Deposit to VMSSF's Illapel Project?
What type of mineralization was found in VMSSF's hole DVM-08?
