Source: Streetwise Reports 09/20/2024
Sampling results showed that this Chilean project could host high-grade copper and precious metal deposits, which would bode well for its economic viability. Find out why one newsletter writer believes this company is a Buy.
Preliminary results of Vortex Metals Inc.'s (OTC: VMSSF) recent surface sampling program at the brownfield Illapel copper project in Chile, indicate the presence of copper, silver, and gold mineralization, as announced in a news release.
"[The company] put out some fairly impressive soil sample results yesterday morning" Michael Ballanger of GGM Advisory Inc. wrote in a Sept. 18 article. "They were recovered from a brand new area of the Illapel property."
Vortex Metals Director Dr. John Larson and his team collected 13 surface samples from several key areas in the project concessions and sent them to ALS Global, a laboratory in Santiago, for multielement analysis. The team also collected bulk samples from which to produce standards for quality control in future drill core analysis.
Eight of the surface samples showed copper, gold, and silver mineralization. Some samples demonstrated elevated levels of associated elements, including iron, molybdenum, and cobalt. Some of the standout results showing high grades are:
0.62 grams per ton (0.62 g/t) gold and 1.33% copper in sample 1021
75.2 g/t silver and 4.31% copper in sample 1019
32.6 g/t silver, 0.21 g/t gold, and 5.85% copper in sample 1029
The findings overall confirm that the Illapel concessions may host at least two distinct styles of mineralization: mantos (predominantly copper-silver mineralization) and epithermal vein systems (copper-gold mineralization), the release pointed out. Illapel's potential to host high-grade copper and precious metals deposits suggests the economic viability of future projects, according to the company.
Diversified Exploration Portfolio
Vortex Metals is a copper-focused explorer-developer with a diversified portfolio of exploration projects in Chile and Mexico. The discovery-driven company believes there has never been a better time to invest in copper-gold exploration, it noted in its presentation.
The Illapel project comprises three mineral leases over about 6,000 hectares in Chile's Choapa province, not far from the community of Illapel. The area boasts sufficient infrastructure and is conducive to year-round drilling, noted Technical Analyst Clive Maund in a Sept. 9 report.* The fully permitted project is in "a most promising copper-rich area" and "can be said to have 'blue sky' potential."
Specifically, Illapel is near the fully operational Rio 27 copper-silver mine, from which favorable geology runs north and south. Rio-27 has been in production for more than 10 years and has processed 400,000 tons of high-grade copper (averaging 1.39%) and silver (about 7 g/t) ore, Ballanger wrote.
"This property is a favorite of ex-BHP Billiton Ltd. (NYSE: BHP) Chilean country manager John Larson, whose 16 years with the multinational giant afforded him many 'looks' at properties of merit in the Andean copper belt" he added.
Vortex holds an option to acquire up to an 80% interest in Illapel including right of first refusal on the Rio 27 mine and processing ...
