Seismic and gravity surveys have located at least two major salt structures that are potentially suitable for road salt exploration and hydrogen cavern development at the Robinsons River Salt Project, Newfoundland
Each Salt Cavern if developed could exceed a storage volume of over 2 million meters3
VANCOUVER, British Columbia, June 08, 2023 (GLOBE NEWSWIRE) -- Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) ("Vortex” or the "Company") along with its contracted consultant partners, has completed an analysis of the previously announced 2D seismic interpretation on the Robinsons River Salt Project (the “Project”), Newfoundland, Canada locating at least two salt structures prospective for halite exploration, the mineral form of sodium chloride or road salt, and potentially suitable for hydrogen salt dome cavern development.
Highlights:
- Seismic and gravity surveys have located salt structures below the property.
- Salt caverns exceeding a storage volume of 2 million m3 per cavern can be developed.
- At least two major salt structures that are potentially suitable for cavern development are identified within the property (Figure 1).
- The maximum thickness of the salt strata is identified to be 1,700-1,800 meters in both salt structures.
- RESPEC recommends that core wells be drilled at the locations where the salt is the thickest.
- RESPEC is currently working on creating a 3D geological model of the salt structures. The 3D model will show the core well locations, potential dimensions of the salt caverns, and the number of salt caverns that can be developed within the property.
This significant discovery is expected to play a pivotal role in advancing the hydrogen economy, providing a viable and sustainable solution for energy storage and transportation. The salt domes, located in a strategic area on the east coast of Canada, have been identified as natural formations with exceptional geological characteristics. Their unique structure and composition make them ideal for storing large quantities of hydrogen gas safely and efficiently. The proximity to major industrial centers and potential hydrogen production sites further enhances their significance in fostering the growth of the hydrogen economy. On May 31st, 2023, eight different companies pitched green hydrogen production projects in Newfoundland at the Energy NL Conference.
Paul Sparkes, CEO of Vortex, commented, "We are incredibly excited to have two potential salt structures that are suitable for halite exploration, which can potentially be developed into hydrogen salt caverns. As hydrogen gains traction as a clean fuel for various applications, including transportation and industrial processes, the availability of reliable storage facilities becomes paramount. These types of salt domes will act as strategic hubs, facilitation the distribution of hydrogen across the east coast and enabling its use in diverse sections, thereby reducing greenhouse gas emissions and fostering sustainable economic growth. Vortex will now shift its focus to drill targeting to advance exploration on the property."
Figure 1 – Robinsons River Salt Thickness Map
Qualified Person
The technical content of this news release has been reviewed and approved by Piotr Kukialka, P.Geo, who is acting as a consultant for the Robinsons River Salt Project, in accordance with regulations as defined by NI 43-101.
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
info@vortexenergycorp.com
Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to the Company's business and plans. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
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