Vortex Energy Announces Drilling Update and $115,500 Grant Award At The Robinsons River Salt Project

The Company has finalized drillhole three planning and is pleased to announce the receipt of the Mineral Incentive Program – Junior Exploration Assistance grant of $115,500

VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) (“Vortex” or the “Company”) is pleased to announce the completion of drill planning for the third exploration drillhole at the Robinsons River Salt Project (the “Project”). The Company is currently   preparing for drill mobilization, scheduled to commence in April 2024. Furthermore, Vortex has been awarded a $115,500 grant from the Government of Newfoundland and Labrador, Department of Industry, Energy and Technology Mineral Incentive Program – Junior Exploration Assistance program. This grant is in recognition of prior exploration expenditures made on the Project.

Under the geological support and operational management of Respec Consulting Inc. (“RESPEC”), FTE Drilling (“FTE”) and Major Drilling Group International Inc. (“Major”) have been engaged to conduct drilling activities. The Company plans to drill a 1,000-meter deep core hole at the Project. Mobilization is anticipated to commence in mid-April, subject to road and weather conditions, and conclude by late April. Drilling operations are expected to commence in the first two weeks of May.

Paul Sparkes, CEO of Vortex Energy Corp., commented, “We are thrilled to be advancing our exploration efforts at the Project. RESPEC has designed a conservative plan which we believe will yield the best chances of success in our salt exploration efforts while maintaining well integrity for potential future energy storage applications. We are grateful for the support from the Government of Newfoundland and Labrador and are looking forward to mobilizing in the coming weeks.”

The Company plans to utilize two drilling companies and drill rigs to drill hole three. FTE will drill and case the hole to a depth of 350 meters into the anhydrite caprock over the salt. Major will then put their coring drill rig over the cased hole and lower their rods to the bottom of the casing and begin coring from 350 meters to a depth of 1,000 meters. This strategic approach is expected to help to avoid the challenging geologic zones experienced in core hole one and two and enhance overall project success.