WINKF - Windfall Geotek is Accepting Binding Offers for Property in Copper Producing Region of Chapais Area Quebec
(TheNewswire)
DOES NOT CONSTITUTE AN OFFEROF THE SECURITIES DESCRIBED HEREIN
Highlights of the ChapaisProperty:
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- Large property consisting of 36 claims and 1,560 hectares
- From 1953-1991 the Chapais region produced over 1 billion pounds ofcopper and 1 million ounces of gold
- Windfall Geotek AI system has generated significant targets forgold, copper and zinc across the entire land package that are roadaccessible and have grid power access (Figures 3 to 8)
Brossard, Quebec - Th e Newswire - April 8, 2021 – Windfall GeotekInc. ( the “Company”, or “Windfall”) ( TSXV:WIN ) , ( OTC:WINKF ) , ( FSE:L7C2) is pleased to announce theopening of a bidding process for its asset near Chapais, Quebec. TheChapais Property lies within the Chapais mining district andChapais-Chibougamau mining camp. Regional mineralization styles foundin this district include but are not limited to the Opemiska typecopper-gold systems.
Location, Access and Infrastructureof the Chapais Property:
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- The Windfall Geotek’s Chapais Property is located 490 km northwestof Montreal, 2 km west of the town of Chapais and 40 km southwest ofChibougamau in northern Quebec (NTS map sheet 32G/15).
- Property is comprised of 36 claims, covers 1,560 hectares of surfacearea and is located 490 km’s NW of Montreal, Quebec, Canada (Figure2).
- Road accessible & grid power access. Direct road access to theChapais Property is via route 113 to provide access to the deposits.Route 113 is a paved regional highway that is part of the Trans-CanadaHighway. The road begins 2.5 km south of the community of the town ofChapais. The access road is currently used for diamond drill andpersonnel access to the site all year around. A series of ATV trailsprovide access to the property. Close access to the provincialelectrical transmission grid is available along Route 113 near thetown of Chapais that runs through the Chapais Property Land Claims.(Figure 2 - Quebec Route 113 & Electric Transmission Grid Wires)
- Coordinates for the center of the Project site are latitude 49?48’ 16’’ N and longitude -74? 54’ 37’’ W (506480mE,5516890mN) at an elevation of 332 m.
Nathan Tribble P.Geo, Directorcommented: “The Chapais Property is well situated in aprolific region that has produced over 1 billion pounds of copper and1 million ounces of gold. It's exciting to see the large CARDS AIgenerated targets within favorable rock types that were host to thehistoric Perry and Springer mines adjacent to our land package. Duringthis new supercycle of electrification metals this is a fabulousproject that should gain a lot of attention here in short order.”
Dinesh Kandanchatha, Chairman &Interim CEO commented: “As we engage with our strategicreview, the management team of Windfall is looking to maximize thevalue of the company’s resource assets. With the demand for Copperand other base metals, Windfall is looking to develop this asset withthe right operational partner. This property and AI targets reflectour commitment to our business plan of focusing on battery metalopportunities that can drive long term royalties for shareholders.”
Geological & Historicalcontext
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- The Chapais area is host to four past producing mineswhich from 1953 to 1991 producing well over 1 billion pounds of copperand 1 million ounces of gold (Sigeo m, MRN a nd Figure 1)
- The Chapais property is located in the upper part ofthe stratigraphic volcanic sequences of northeastern Abitibi volcanicbelt, where the ultramafic Cumming Complex intrudes mafic and felsicrocks of the Waconichi Formation and mafic rocks of the upper RoyGroup.
- Mineralization on the Chapais property may be ofOpémiska style copper-gold vein type, particularly given itsproximity to the Springer and Perry mines. The mineralized veins ofthe Springer mine are restricted to fracture networks contained in theophitic parts of the gabbroic Venture sill, which continues into theChapais property.
Figure 1 .Historial Producing Mines in the Chapais Area, Quebec
Figure 2 . Satellite Imagery ofChapais Land Claims
CARDS Target Maps - Gold, Copper,Zinc
CopperTargets
Figure 3. PlanView of CARDS AI Copper Targets with Satellite Imagerybackground
Figure 4. PlanView of CARDS AI Copper Targets with Regional Geology
GoldTargets
Figure 5. PlanView of CARDS AI Gold Targets with Satellite Imagery background
Figure 6 . PlanView of CARDS AI Gold Targets with Regional Geology
ZincTargets
Figure 7. PlanView of CARDS AI Zinc Targets with Satellite Imagery background
Figure 8. PlanView of CARDS AI Zinc Targets with Regional Geology
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 .
About Windfall Geotek – Powered byArtificial Intelligence (AI) since 2005
Windfall is an Artificial Intelligence company that has been inbusiness for over 15 years developing its proprietary CARDS analysis(AI) and data mining techniques. Windfall Geotek can count on amultidisciplinary team that includes professionals in geophysics,geology, Artificial Intelligence, and mathematics. It combinesavailable public and private datasets including geophysical, drillhole and surface data. The algorithms designed and employed byWindfall are calculated to highlight areas of interest that have thepotential to be geologically similar to other gold deposits andmineralization. Windfall Geotek AI increases shareholder value byreducing both time & exploration costs while reducing theenvironmental impact from mineral exploration. Windfall Geotek looksforward to leveraging it’s AI technology to find both precious andbase metals which will play a critical part in the future ofelectrification & reducing the world's carbon footprint. TheCompany's objective is to develop a new royalty stream bysignificantly enhancing and participating in the exploration successrate of mining and to continue the UXO detection application as a highpriority. Windfall has played a part in numerous past discoveriesutilizing its methodology as described at: https://windfallgeotek.com/
For further information, please contact:
Simran Kamboj
President & CTO
Email: info @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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