Vortex Metals Announces the Initiation of Phase II Exploration and Airborne Geophysics at Its Illapel Copper-Silver Project in Chile
Vortex Metals Announces the Initiation of
Phase II Exploration and Airborne Geophysics
at Its Illapel Copper-Silver Project in Chile
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2026) - Vortex Metals Inc. (TSXV: VMS) (FSE:
DM8) (OTCQB: VMSSF) ("Vortex" or the "Company") is pleased to announce that it will begin Phase II
of its exploration at the Illapel project, Chile. Phase II builds on the first phase of exploration drilling that
successfully located low-resistivity sulphide mineralization extending northward from the Rio 27 copper-
silver mine along the favourable structural corridor.
"The Phase I drill program confirmed our geological model. The Phase II program will expand on
the past program by using the knowledge obtained on the structural controls and will be
combined with the geophysical signatures obtained from the upcoming geophysics program.
We will then design a drill program around the results.
Having numerous copper surface
expressions, multiple geophysical targets, indications of an IOCG target and gold-bearing vein
systems, we believe Illapel has significant discovery potential,"
stated, Michael Williams, Co-
founder and Interim chief Executive Officer.
Phase II represents a significant expansion of exploratory work, and will cover the entire 180 square km
of the concession area, including multiple unexplored surface expressions of copper-silver
mineralization. The airborne survey will fly approximately 2,000 line-km with Magnetics, VLF-EM and
Radiometrics, and will provide direct information on favourable structures, and the possible associated
mineralization, thus generating new drill targets. Discussions are underway to finalize the contract with a
local geophysical contractor.
Project Overview
The Illapel Copper Gold project is located in the Commune of Illapel, Choapa Province of the Fourth
Region of Chile and is 250 km north of Santiago. The nearest town is the mining centre of Illapel located
35 kilometres away. The project has excellent infrastructure connecting paved roads, electricity, and mild
climate favourable to year-round exploration. Illapel is fully permitted for exploration, and drilling may
commence following the identification of targets.
The region surrounding Illapel has seen extensive mining activity, both past and present. Of particular
note, the El Espino copper-gold (IOCG) Project (Measured and Indicated geologic resource of 145MT at
0.55% Copper and 0.22 g/t Gold; engineering feasibility complete; awaiting environmental permits.
Source:
www.pucobre.cl
) is located approximately 14km to the north and is presently planned for
development by Pucobre. Several small gold and copper mines also operate in the immediate area.
Rio 27 Mine
The Illapel Project is adjacent to an existing mining operation owned by Ventana Group and known as
the Rio 27 mine.
The Rio 27 mine has been in production since 2010 with its near-site processing plant.
Ventana has advised that to date, approximately 400,000 tonnes of mineralized material with an
average grade of 1.39% copper has been processed at site. The LOI provides a right of first refusal
(ROFR) on the Rio 27 Mine and processing facility.
Drilling Highlights- Phase I Drilling
Initial drilling at Illapel yielded encouraging results, providing strong geological evidence of a mineralized
system that warrants further investigation. To date, only three fully completed holes (DVM-02, 03, and 08)
have tested the north-northeast trend of high-grade, manto-style copper-silver mineralization extending
from the historic Rio 27 Mine. All holes intersected hydrothermal alteration and sulphide mineralization—
including disseminated pyrite, chalcopyrite, chalcocite, and bornite—indicating the presence of a
potentially extensive mineralized structure.
Hole DVM-08, in particular, returned compelling results with high-grade mineralization in an intercept one
metre wide, that may represent the margin of a larger manto-style lens. This interpretation is supported
by a downhole geophysical survey, which revealed a broad zone of low resistivity—coincident with the
sulphide-bearing interval—and consistent with off-hole extensions. Geophysics contractor GEODATOS
has now identified six additional conductive targets near DVM-08, providing encouragement for follow-
up drilling.
In addition to the manto-style copper system, the company also observed
Iron Oxide Copper Gold
(IOCG) mineralization
in multiple holes, including DVM-08. This mineralization-characterized by iron
oxides and disseminated sulphides-occurs within a sequence of volcanic and sedimentary rocks, similar
to the setting of the
El Espino deposit
(150 Mt @ 0.55% Cu, 0.22 g/t Au), located just 13 km to the
west-northwest.
Discussion of Phase II Exploration
Previous work at the Illapel project has confirmed the importance of generally N-S trending structures,
and cross-cutting structures with ocoite dykes, in localizing copper-silver mineralization. Mineralization
encountered in drill holes, and at Rio 27 mine, and forms large halos of sulphide-bearing rock. Based on
the down-hole geophysical survey, these halos have been proven to form zones of low-resistivity
mineralization that respond to EM.
With this improved knowledge of structural control and the geophysical response, exploration may now
expand to cover the entire concession area where numerous localities of copper-silver mineralization
have been identified along structures. It is anticipated that the airborne magnetic, VLF-EM and
radiometric survey will identify additional targets for follow-up by IP geophysical survey and/or drilling.
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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-gold focused exploration and development company with a diversified
portfolio of exploration projects in Chile and Mexico. Vortex holds an option to acquire up to 80% interest
in the brownfield Illapel Copper Project in Chile and through its Mexican subsidiary Empresa Minera
Acagold, S.A. de C.V., it owns 100% interest in two drill-ready high-potential copper-gold volcanogenic
massive sulfide (VMS) properties, Riqueza Marina and Zaachila in Oaxaca, Mexico. The company
emphasizes responsible exploration, community engagement, and environmental stewardship to meet
the rising global demand for copper sustainably.
For further information regarding this press release contact:
Vikas Ranjan,
President and Director
Email:
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, neighboring 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.
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