VANCOUVER, BC, Oct. 4, 2023 /CNW/ - Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTC: VMSSF) ("Vortex" or the "Company") is pleased to announce the initiation of field studies at the Riqueza Marina project located in southern Oaxaca (Figure 1). Work has focused on the Rhyolite Dome area and has moved westward toward the copper-bearing gossans of the Laminas zone (Figure 2) which may represent a Cu-rich stringer zone in the footwall of a VMS deposit. To date, six manually excavated trenches have been completed totaling 188 meters and 117 rock chip samples, with the sampling results anticipated in October.
Figure 1. Location of the Riqueza Marina concession and project, southern Oaxaca. (CNW Group/Vortex Metals)
Figure 2. Preliminary geologic map of the Rhyolite Dome/Laminas VMS system showing historical copper-in-rock samples. (CNW Group/Vortex Metals)
Figure 3. Preliminary geologic section across the Laminas – Rhyolite Dome project area showing Jurassic volcano stratigraphic sequence and the postulated position of the Laminas mineralized zone. The red box denotes additional detail locating the geophysical anomaly north of the Rhyolite Dome (Figure 4). (CNW Group/Vortex Metals)
Figure 4. Results of the gravity and magnetic surveys over the Rhyolite Dome prospect located in the eastern sector of the Riqueza Marina block. Trenches 1 through 3 were excavated in the altered rhyolite flows while Trenches 4 through are located in the metavolcanics hosting exhalite lenses and strong iron > manganese oxides. (CNW Group/Vortex Metals)
Initial mapping has identified broad exposures of iron- and manganese-rich exhalite horizons (Figure 2), silicified rhyolite flows and altered metasediments across which the 6 trenches have been excavated. The Company's near-term hope is to provide better geologic context for the Cu-bearing gossan at Las Laminas (Figure 2) and the pronounced geophysical anomaly identified in the Rhyolite Dome target area and beneath the adjacent corn fields (Figure 4).
Ongoing compilation of the historic rock sampling in the Laminas gossan (Figure 2), in conjunction with the preliminary geologic map, suggest an easterly dip for the mineralized package (mapped as 'sedimentary rocks') and beneath the weakly metamorphosed volcanic units hosting narrow, discontinuous silica exhalite lenses. Further east, altered rhyolite flows of the Rhyolite Dome target area cap the weakly metamorphosed Jurassic rocks. Figure 4 reveals the surface geology surrounding the Rhyolite Dome along with the trenches of Phase 1.
Figure 3 reveals a sectional view of the project area where the Laminas gossan dips shallowly to the east and beneath the exploration area, including the Rhyolite Dome target (Figure 4). The dip of the prospective horizon is uncertain and surface measurements suggest it may be flatter. The resumption of work here will likely include additional mapping and sampling, hyperspectral studies of the altered rocks and geophysics. A more detailed analysis of the geochemical data will be completed once the results are available.
Qualified Person / Quality Control and Quality Assurance
Robert Johansing, M.Sc. Econ. Geol., 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 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-gold 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-gold 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.
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SOURCE Vortex Metals
regarding this press release contact: Vikas Ranjan, Chief Executive Officer and Director, Email: [email protected], Phone: 416-605-7024
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