WINKF - Windfall Geotek Signs 2nd Contract in Norway with Capella Minerals
(TheNewswire)
Brossard, Quebec - TheNewswire - January 14, 2021 – Windfall Geotek(TSXV:WIN ) ( OTC:WINKF), a mining services company and a leader in theuse of Artificial Intelligence (AI) and advanced knowledge-extractiontechniques since 2005 in the mining sector, is pleased to announce that the Company has been commissioned by CapellaMinerals Limited (“Capella”; TSX.V: CMIL, FRA: N7D2) to deployour proprietary CARDS Artificial Intelligence ("AI") system.The contract will identify VMS (Cu-Zn)exploration targets over Capella’s Kjøli project located in the northern extension of theRøros mining district in central Norway (Figure1). The contract is valued at $110,000 CAD withthe potential for Windfall Geotek to earn shares for targets stakedoutside the scope of the client’s project.
About Capella Mineral’s Kjøli Project:
The Company’s Kjøli copper-rich massive sulfide(“VMS”) project represents a district-scale (120 square kilometers/ 12,000 Ha) land position on the northern extension of the Rørosmining district in central Norway, which saw mining for over 300 yearsbeginning in the mid-1600’s. The Kjøli Project (Figure 1) covers approximately 15 kmstrike length of highly-prospective stratigraphy extending north fromthe past-producing Killingdal mine - which operated from 1674 to 1986and produced some 2.9 Mt @ 1.7% Cu + 5.5% Zn from one of Europe’sdeepest (1.4km) underground mines - to the former Kjøli copper mine (Source: CapellaMinerals website).
Capella Minerals data layers to beanalyzed are:
-
- Surface rock samples database
- Heliborne Magnetic-Electromagnetic-Radiometric 1999survey data at 50m resolution (Figure 1).
- Digital Elevation Model (DEM) at 10m resolution datafrom Geonorge- Kartkatalogen will be integratedinto the modeling process to characterize the topography input.
- All these data will be merged into a single datasetin order to evaluate the VMS (Cu-Zn) and Au-Ag mineral potentialanalysis with CARDS .
Eric Roth, President & CEO ofCapella Minerals comments: " Working with Windfall Geotek allows us to accelerate ourproject while generating high probability targets during the lowseason for field work, We have been following with great interest thepositive CARDS AI results being reported from Playfair Mining’s(TSX,V:PLY) RKV Project in central Norway, which lies in a similargeological setting and hosts similar deposit types to Kjøli . AI support in mineral exploration willbe instrumental in the future successes in our industry and we lookforward to working with Windfall."
Windfall Geotek CARDS analysisidentifies areas of high exploration potential using severaltechniques listed below:
-
- Algorithms analyze each layer ( Figure 2 ) of information for everydrill hole/rock/soil sample and data site to create a unique signaturefor the mineralization that is being sought (gold, copper, kimberlitesetc.).
- The MCubiX data mining engine (with numeroussupporting algorithms) analysis recognizes patterns of informationamong drill holes and other sample media. The system uses thesealgorithms to find the new patterns that are often not recognized bythe naked eye.
- CARDS analysis identifies locations of the newmineralization signature in the exploration area. Predictions aregiven a cell rating by percentage.
- Millions of spatial data points and theirrelationships are analyzed, where a human brain cannot do asefficiently and quickly as a computer (Figure 3).
- The CARDS System becomes trained and "crossvalidates" each model that CARDS generates. The cell ratingpercentage "weeds out" unwanted (low percentage cells)targets, leaving only the highest probabilityareas for the discovery of mineralization. In some regions this may beas low as 5% of total original project area (Figure 2).
Figure 1: The Kjøli Project in CentralNorway
Michel Fontaine, President and CEO ofWindfall Geotek commented: “We are pleased to have added another major contract in Norway tocollaborate with Capella Minerals and EMX Royalty. This will be oursecond project in Norway in the recent months, and we are extremelyconfident given the high quality of the data that the results willgenerate high probability targets. Our AI tool is exceptionallyefficient when it comes to base metals and we expect to see theresults reflect that in the context of the Kjøli project. We are confident Capella Mineralswill benefit from our CARDS AI targeting and will generate a great ROIfor both companies’ shareholders.”
Figure 2: By combining various data types, datautilization is optimized, and prediction is maximized.
Figure 3: Millions of spatial data points and theirrelationships are analyzed.
The scientific and technical data contained in thispress release was reviewed and prepared under the supervision ofGrigor Heba, Ph.D., P.Geo., Principal Geologist and a Qualified Personas defined by National Instrument 43-101.
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 CARDSanalysis (AI) and data mining techniques. Windfall Geotek can count on a multidisciplinary team thatincludes professionals in geophysics, geology, ArtificialIntelligence, 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. The Company's objective is todevelop a new royalty stream by significantly enhancing andparticipating in the exploration success rate 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:
Michel Fontaine
President and CEO of Windfall Geotek
Telephone: 514-994-5843
Email: michel@windfallgeotek.com
Website: www.windfallgeotek.com
Additional information about the Company is availableunder 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-LOOKING STATEMENTS: This news release containsforward-looking statements, which relate to future events or futureperformance and reflect management’s current expectations andassumptions. Such forward-looking statements reflect management’scurrent beliefs and are based on assumptions made by and usinginformation currently available to the Company. Investors arecautioned that these forward-looking statements are neither promisesnor guarantees, and they are subject to risks and uncertainties thatmay cause future results to differ materially from those expected.These forward-looking statements are made as of the date hereof and,except as required under applicable securities legislation, theCompany does not assume any obligation to update or revise them toreflect new events or circumstances. All forward-looking statementsmade in this press release are qualified by these cautionarystatements and by those made in our filings with SEDAR in Canada(available at WWW.SEDAR.COM).
Copyright (c) 2021 TheNewswire - All rights reserved.