🇨🇦 Vortex Engages RESPEC to Advance its Robinsons River Salt Project in Newfoundland & Labrador, CANADA
Press release from Vortex
RESPEC is a highly experienced team of experts with a specialty in salt cavern exploration, development, mining and design, supporting companies such as ATCO, Air Liquide and PRAXAIR
/EIN News/ — VANCOUVER, British Columbia, May 09, 2023 (GLOBE NEWSWIRE) — Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) (“Vortex” or the “Company“) is pleased to announce that it has executed a Master Services Agreement (the “Agreement”) with RESPEC Consulting Inc. (“RESPEC”), a leader in engineering, data, geoscience and technological solutions for the salt industry. Pursuant to the Agreement, RESPEC will work directly with Vortex to explore and advance the Robinsons River Salt Project (the “Project”) by developing an exploration program for the Project designed to determine whether the Project shares similar geological characteristics to Atlas Salt’s Great Atlantic Salt Deposit, located approximately 15kms to the north of the Project.
RESPEC’s experts have evaluated over 1,000 caverns in nearly every major cavern storage region in the world. Their extensive history underground has helped them pioneer in-house specialty software and rock lab testing that focuses on analyzing solution-mined and conventionally mined caverns. RESPEC has the world’s largest rock laboratory dedicated to the underground storage industry and has experience with some of the largest scale Projects in North America, including Mitsubishi Power’s Advanced Clean Energy Storage Project in Utah, the ATCO Heartland Energy Centre in Alberta and seven other hydrogen storage projects worldwide.
The Project covers 17,139 hectares in the Province of Newfoundland & Labrador and is approximately 35km south of Stephenville. Previous work conducted on the Project includes a gravity and magnetic survey, which the Vortex team expects to leverage in designing the exploration program for the Project their data collection. Vortex is exploring the Project for potential similarities to Atlas Salts Great Atlantic Deposit.
“We are very excited to be moving ahead in partnership with RESPEC and their team of experts,” said Paul Sparkes, Chief Executive Officer of Vortex. “We believe that the multi-disciplinary team of geologists, geophysicists and engineers are exactly what Vortex needs to efficiently advance the Project. RESPEC is one of the only underground storage consultants with direct experience in hydrogen storage caverns globally and has many other related areas of expertise covered in-house. Vortex intends on deploying teams as quickly as it can to conduct the first stages of exploration as we work with RESPEC to develop a detailed drilling plan.”
Sam Voegeli, Energy Services Lead at RESPEC, comments “RESPEC is looking forward to working closely with the Vortex team to further explore the Robinsons River Salt Project. We’re excited to leverage our 50+ years of experience with underground storage and salt deposits to help bring the Project closer to development. The RESPEC team is eager to be involved in such an exciting project that has the potential to be positioned as a key global hydrogen hub in the energy transition.”
About RESPEC Consulting Inc.
RESPEC was founded in Rapid City, South Dakota in 1969 and operates in 14 states and two Canadian provinces. RESPEC’s projects and products have been completed for clients in seven continents and 50 countries. Underground. Aboveground. Natural. Technical. Digital. Inside. Outside. On-Site. No matter the market, RESPEC integrates solutions tailored to clients’ and communities’ needs. RESPEC unites engineering and applied sciences with technology, professional, and creative services so that everyone gets cutting-edge outcomes. RESPEC finds answers that work for the needs at hand. RESPEC’s diversified team can handle projects ranging from early-stage exploration to multi-disciplinary feasibility studies.
About Vortex Energy Corp.
Vortex Energy Corp. is an exploration stage company engaged principally in the acquisition, exploration, and development of mineral properties in North America. The Company is currently advancing its Robinson River Salt Project in Stephenville in the Province of Newfoundland & Labrador covering over 17,000 hectares. Leveraging the Robinson River Salt project, the Company is also exploring the development of technologies to efficiently store green Hydrogen in Salt Caverns. Vortex also holds the Fire Eye Project, which is located in the Wollaston Domain of northern Saskatchewan, Canada.
On Behalf of the Board of Directors
Paul Sparkes
Chief Executive Officer, Director
+1 (778) 819-0164
[email protected]
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the exploration plans of the Company for the Project, including the nature and type of the Company’s exploration activities, the timing of such exploration activities, the ability of the Company to leverage its exploration efforts to develop a drill plan for the Project and the aim of the Company’s exploration efforts; and the expected benefits of the Company’s partnership with RESPEC, including that RESPEC will assist the Company in advancing the Project. .
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, assumptions regarding the Company’s ability to execute on its exploration plans for the Project, including that it will receive all of the necessary permits to conduct such exploration activities, will be successful in carrying out such exploration activities and will accomplish the desired outcomes from such exploration activities; and that the Company’s partnership with RESPEC will be carried out in accordance with the Agreement and yield the anticipated benefits to the Company and the Project.
Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, the risk that exploration at the Project does not proceed in the manner currently contemplated, or at all; risks inherent in the exploration and development of mineral deposits, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; that the geology or mineralization of nearby projects may not be indicative of the geology or mineralization at the Project; that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company, including that the Company may fail to develop a drill plan for the Project; and that the Company’s partnership with RESPEC may not yield the anticipated benefits to the Company or the Project, including that the Company’s partnership with RESPEC may not be carried out pursuant to the Agreement, or at all, and may not assist in advancing the Project.. The forward-looking information contained in this release is made as of the date hereof, and the Company not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
Originally published on 9 May.
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