Vortex Metals to begin phase 2 exploration at Illapel

Executive Summary

• Vortex Metals Inc. announces the initiation of Phase II exploration and airborne geophysics at its Illapel Copper-Silver Project in Chile, building on Phase I results that confirmed a geological model of low-resistivity sulphide mineralization.
• Phase II will cover the entire 180 square kilometre concession area, involving an airborne survey of approximately 2,000 line kilometres (Magnetics, VLF-EM, and radiometrics) to identify new drill targets.
• Phase I drilling identified high-grade, manto-style copper-silver mineralization and iron-oxide-copper-gold (IOCG) mineralization, with Hole DVM-08 showing a 1-meter wide high-grade intercept and six additional conductive targets identified by geophysical contractor Geodatos.

Key Details

• Phase II Exploration Scope: The program covers the full 180 sq km concession area, targeting multiple unexplored surface expressions of copper-silver mineralization.
• Airborne Geophysics: The survey will fly ~2,000 line kilometres using Magnetics, VLF-EM, and radiometrics to identify favourable structures and associated mineralization.
• Contractor Status: Discussions are underway to finalize the contract with a local geophysical contractor.
• Phase I Drilling Results:
  • Three fully completed holes (DVM-02, 03, and 08) tested the north-northeast trend of high-grade, manto-style copper-silver mineralization extending from the Rio 27 mine.
  • All holes intersected hydrothermal alteration and sulphide mineralization (disseminated pyrite, chalcopyrite, chalcocite, and bornite).
  • Hole DVM-08: Returned compelling results with high-grade mineralization in a 1-meter wide intercept, potentially representing the margin of a larger manto-style lens.
  • Geophysics: Downhole surveys revealed a broad zone of low resistivity coincident with sulphide-bearing intervals. Geodatos identified six additional conductive targets near DVM-08.
  • IOCG Mineralization: Observed in multiple holes, including DVM-08, characterized by iron oxides and disseminated sulphides within volcanic and sedimentary rocks.
• Project Location & Infrastructure: Located in Illapel, Choapa province, Chile (250 km north of Santiago). The project has paved roads, electricity, and is fully permitted for exploration.
• Regional Context: The El Espino copper-gold (IOCG) project is located ~14 km north, with a measured and indicated resource of 145 MT at 0.55% Cu and 0.22 g/t Au.
• Rio 27 Mine: Adjacent existing operation owned by Ventana Group, producing since 2010. Approximately 400,000 tonnes of mineralized material (avg 1.39% Cu) processed to date. Vortex holds a Letter of Intent (LOI) with a Right of First Refusal (ROFR) on the Rio 27 mine and processing facility.
• Qualified Person: Juan Carlos Fernandez, PGeo, reviewed and approved the technical content.

Notable Quotes

• "The phase I drill program confirmed our geological model. The phase 2 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.