WINKF - Amended: Windfall Geotek Announces New Gold Discovery on AI Gold Targets Near Bachelor Lake in the Urban Barry Mining Camp of Quebec
(TheNewswire)
DOES NOT CONSTITUTE AN OFFEROF THE SECURITIES DESCRIBED HEREIN
Highlights:
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- Validation of Windfall Geotek’s AI target (GOLD) produced frompublic data in 2010
- Discovery is 50m of surface and mineralization is open in alldirections
- 24.85 metres ("m") of 1.4 grams-per-tonne gold ("g/tAu"); including 4.25 m of 3.6 g/t Au.
Brossard, Quebec - TheNewswire -March 30, 2021 – Windfall Geotek Inc.( the “Company”, or “Windfall” ( TSXV:WIN ) , ( OTC:WINKF ) , ( FSE:L7C2) is pleased to announcesuccessful drilling results on a new gold discovery in the BachelorLake area of the Urban Barry Mining Camp occurring on Windfall’sA.I. Targets generated back in 2009 using publicly available data fromthe Quebec Government. These drilling results highlight the highaccuracy of the Company’s A.I. system used for generating mineralexploration targets. The AI targets were sold to Metanor resources in2009 (Original press release date November 18, 2009); due toconfidentiality the name of the current claim owners can not bementioned. Windfall has been providing high probability AI explorationtargets for mineral exploration in the mining industry since 2005.
The following drilling results recently reported in March of 2021occurred within previously defined targets of the Company’s AISystem in 2010 - (See Figure1 below)
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- Drill Hole (EB20-008) -24.85 metres of 1.4 g/t gold; including 4.25 metres of 3.6 g/t gold
- Drill Hole (EB21-021) - 18.3metres of 0.9 g/t gold; including 10.5 metres of 1.3 g/t gold; and,
- Both results occur within 50 metres of surface
Nathan Tribble board member ofWindfall Geotek commented : “It is excellent to see a Windfall AIsystem target that is almost 10 years old still able to be validatedin 2021. I have personally worked on this project in 2018-2019 and wasvery impressed initially by the gold signature created by the WindfallAI system on the Moroy Deposit. It is nice to see the validation ofthe same target on the eastern side of the O’Brien intrusion thatspeaks to how big the mineralized system is at the Bachelor Lakearea”
Figure1. Map of the Windfall AItargets near Bachelor Lake
Validations:
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- Drill Hole (EB20-008) -24.85 metres of 1.4 g/t gold; including 4.25 metres of 3.6 g/t gold
- Drill Hole (EB21-021) - 18.3metres of 0.9 g/t gold; including 10.5 metres of 1.3 g/t gold; and,
- Both results occur within 50 metres of surface
The scientific and technical data contained in this press release wasreviewed and prepared under the supervision of Grigor Heba, Ph.D.,P.Geo., Principal Geologist and a Qualified Person as defined byNational Instrument 43-101 .
Grant of Stock Options andappointment of Simran Kamboj
Windfall is pleased to announce the grant of 1,000,000 stock optionsto its directors, management team and consultants. The stock optionsentitle their holders to purchase the same number of common shares ofWindfall at a price of $0.295 per common share for a period of 5years, namely March 29, 2026 (the “ Options ”).
Windfall’s directors and management team were granted 500,000Options, and two consultants of Windfall were granted 500,000 Options.
Windfall is also pleased to announce the appointment of Simran Kambojto its board of directors.
About Windfall Geotek – Powered byArtificial Intelligence (AI) since 2005
Windfall is an Artificial Intelligence company that hasbeen in business for over 15 years developing its proprietary analysis(AI) and data mining techniques. Windfall Geotekcan count on a multidisciplinary team that includes professionals ingeophysics, geology, Artificial Intelligence, and mathematics. It combines available public and privatedatasets including geophysical, drill hole and surface data. Thealgorithms designed and employed by Windfall are calculated tohighlight areas of interest that have the potential to be geologicallysimilar to other gold deposits and mineralization. The Company's objective is to develop a new royalty stream bysignificantly enhancing and participating in the exploration successrate of mining and to continue the Land Mine detection application asa high priority. Windfall has played a part innumerous past discoveries utilizing its methodology as described at: https://windfallgeotek.com/ .
For further information, please contact:
Simran Kamboj
President & CTO
Email: simran @windfallgeotek.com
Website: www.windfallgeotek.com
Additional information about the Company isavailable under Windfall Geotek’s profile on SEDAR at www.sedar.com . Neither the TSXVenture Exchange nor does its Regulation Services Provider (as thatterm is defined in the policies of the TSX Venture Exchange) acceptresponsibility for the adequacy or accuracy of this release.
FORWARD-LOOKINGSTATEMENTS: This news release contains forward-looking statements,which relate to future events or future performance and reflectmanagement’s current expectations and assumptions. Suchforward-looking statements reflect management’s current beliefs andare based on assumptions made by and using information currentlyavailable to the Company. Investors are cautioned that theseforward-looking statements are neither promises nor guarantees, andthey are subject to risks and uncertainties that may cause futureresults to differ materially from those expected. Theseforward-looking statements are made as of the date hereof and, exceptas required under applicable securities legislation, the Company doesnot assume any obligation to update or revise them to reflect newevents or circumstances. All forward-looking statements made in thispress release are qualified by these cautionary statements and bythose made in our filings with SEDAR in Canada (available atWWW.SEDAR.COM).
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