Previous work was conducted by the Vortex co-founder, the late
At the Rhyolite Dome target (Figure 1), Vortex completed a gravity and magnetic survey that produced an extensive geophysical signature adjacent to a rhyolitic dome that the Company identified by geologic mapping. Rhyolite Dome is a priority drill target given the scale and strength of the geophysical anomaly and coincident geochemical expression.
Geochemical surface sampling has also identified extensive exposures of oxidized copper-gold mineralization that can be interpreted as potential extensions of sub-surface mineralization. Within the West and East Gossan areas (Figure 1), 12 rock samples contained greater than 1% copper (up to 20.2% Cu) and an additional 34 samples contain greater than 1,000 ppm copper. Additionally, litho-geochemical studies conducted by renowned VMS expert and Vortex Technical Advisor, Dr.
Exploration to date within the
Several kilometers to the east of the East Gossan zone, the 'Rhyolite Dome' area occurs as an isolated hill surrounded by flat lowlands (Figure 1).
Areas of 'felsic' (quartz-eye rhyolite) volcanics, both widespread float and local outcrops, are widely altered including variable silicification and quartz veining. These rocks are believed to be intimately related to the hydrothermal/mineralizing system and are an important component in the VMS model. Additionally, the coincident strong gravity and magnetic anomalies observed adjacent to the 'Rhyolite Dome' prospect supports this relation (Figure 2).
Extensive sub-crops and/or outcrops of Cu-Au-bearing oxidized sulfides or 'gossan' occur along a 3km strike-length at the West and East Gossan targets (Figure 1). The gossans all consist of compact hematite-limonite-(goethite) without definitive box works, e.g. earthy and massive, but locally reveal a laminar structure or a cylindrical appearance suggestive of a sulfide vent or 'smoker' structure. Several sub-crops near the gossans are thin laminar sulfide horizons that are both inter-bedded with the sediments and cross-cutting them. Though the area between the West and East Gossan targets is covered by Quaternary alluvial/colluvial fill, it is likely that both 'gossans' are contained within the same geologic horizon.
Figure 1 reveals that all samples containing greater than 1,000 ppm Cu (n = 46) are within the East and West Gossan prospects with values up to 20.2% Cu. The gossan zones reveal moderate to very strong mineralization and likely reflect an assemblage composed of copper > lead + zinc sulfides; relict chalcopyrite has been observed. Less-well mineralized gossans extend several kilometers to the north and south and are typically associated with strong manganese oxides which appear to overprint pre-existing sulfides and likely represents a 'distal' pyrite-dominated sulfide sequence.
Geophysical studies have been conducted over portions of the
Within the
The gravity anomaly at the Gossan area is more subtle but corresponds to the currently defined distribution of oxidized sulfides or 'gossan' (Figure 1) including spectacular 'silica exhalite' and 'proto-gossans' including preserved 'black smoker' blocks (Figure 4). The stratigraphy here is not well understood but the gravity may represent multiple mineralized horizons. This gravity high projects to southwest ~1 km under valley fill and towards the West Gossan area.
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 a number of 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.sedar.com. 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.
Neither the
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