VANCOUVER, BC, March 7,
2023 /CNW/ - Vortex Metals Inc. (TSXV: VMS) (FSE:
DM8) ("Vortex" or the "Company") is pleased to provide a progress
update on the environmental works completed to date at the
company's flagship Riqueza Marina project in southern Oaxaca, Mexico. The Riqueza Marina project
consists of 12,041 hectares and is located approximately 15 km from
the Salina Cruz deep-water port on
the Pacific coast of the Mexican state of Oaxaca.
Environmental works first began in February 2020, contracted by the company's
co-founder, the late David Jones.
Under the direction of Mexican environmental firm "ASSI",
activities were carried out by a team of five specialists in fauna
and flora, as well as a group of supporting field staff. Data was
gathered on 7 land uses as defined by the National Institute of
Statistics Geography (INEGI), and informatics.
After completing the fieldwork, the collected data was
interpreted and organized according to predetermined formats
required by "The Secretariat of Environment and Natural Resources"
(SEMARNAT). The company is pleased to announce that 100% of the
environmental work activities have now been completed, these
include the following:
- Elaboration of 8 chapters of the EIA
- Maps
- Field work on flora and fauna
- Photographic survey
- Analysis and elaboration of correction measures
- Comparative analysis of impacts and effects on the
environment
- Analysis of the environmental diagnosis of impacts with and
without the "Environmental Gap" project
- Integration
- Assembly and printing of the text
The company's head geologist Robert
Johansing has reviewed all chapters of the EIA and was
satisfied with the information presented.
Additionally, as per the company's previous news release, Vortex
Metals has been working diligently to engage community stakeholders
and expects support to continue as a clear line of communication
and beneficial relationship is established. Once the general
assembly confirms and seals the agreements, the EIA application can
be submitted to SEMARNAT, and a summarized version of the
application will be circulated in the newspaper with the highest
circulation. This will complete the delivery of the EIA and begins
the process at the government agency.
Vikas Ranjan, Chief Executive
Officer of VMS commented: "We are very pleased with the completion
of environmental works at Riqueza Marina and are looking forward to
the submission of the EIA application in the coming months. Along
with support from local stakeholders, a favourable EIA outcome will
enable Vortex to test the multiple high-grade targets identified by
the late Dave Jones, our co-founder
and world renown geologist."
About Vortex Mines
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 a number of 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.
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.
SOURCE Vortex Metals