WINKF - Windfall Geotek Updates Successful Validation with Playfair Mining and New Business Model
(TheNewswire)
Brossard, Quebec - TheNewswire -October 15, 2020 - Windfall Geotek (TSXV:WIN), (OTCQB:WINKF) a mining and technology services company and leader in the use of ArtificialIntelligence (AI) and advanced knowledge-extraction techniques since2005 in the mining sector, would like to share an update on thesuccessful validation of both the AI targets and improved businessmodel of Windfall Geotek. Playfair Mining (TSX.V: PLY), (Frankfurt: P1J1), (OTC:PLYFF) has successfully validated numerous CARDS generated AItargets on its RKV project in Norway through a detailed and rigoroussoil sampling program identifying numerous base metals not known inthese areas before. Windfall also continues to generate highlyprobable targets in the mining sector, proving the fact that its newbusiness model is the path for adding value.
About Playfair Mining Contract andSuccessful Validation
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- Playfair Mining contract was signed in March, 2019 to deliver highlyprobable VMS Cu-Zn style base metalstargets and Ni-Cu Magmatic targets in Norway (296 km 2 ) on its RKV project
- CARDS analysis uses AI and data mining techniques to identifyhigh-priority targets by combining all available data sets, includinggeophysical, drill hole and topography. The algorithm is designed tohighlight areas of interest that are geologically similar to knowncopper and nickel deposits and mineralization in Norway.
- In this case a digital signature of over 20 mineral showings, 2 pastproducers and old VMS showings that dated back to more than 400 yearsago were used
- Project has had multiple predecessors including Falconbridge (Theyfound the Vakkerlien nickel-copper deposit in 1975)
- CARDS generated a total of 27targets (Figure 1-3). CARDS Evaluation has focused exploration down to 2.5 km 2 from the original 296 km 2
- 19 targets were generatedfrom the VMS Cu-Zn model ,where 7 of these VMS targets were rated high priority (Figure 1-3)
- 8 targets were generatedfrom the magmatic Ni-Cu Magmaticmodel , where 4 of these Magmatic targets were rated highpriority (Figure 1-3)
- 43 significant MMI soilsamples in 15 grids with values over 50 times background in oneor more of copper, nickel orcobalt were discovered on Windfall's AI targets
- Using Windfall's new business model and completing target generationfor equity Windfall was able to achieve a quadruple evaluation on the initialPlayfair Mining shares
- Windfall completed the work and received 2 million Playfair Miningshares at $0.05
Figure 1. Location of CARDSArtificial Intelligence Cu-Zn Base Metal VMS - Ni-Cu Magmatic targetsgenerated for Playfair Mining's RKV project in Norway
Figure 2. Location of CARDSArtificial Intelligence Base Metal VMS Cu-Zn targets generated forPlayfair Mining's RKV project in Norway with regional geology
Figure 3. Location of CARDSArtificial Intelligence Ni-Cu Magmatic targets generated for PlayfairMining's RKV project in Norway with regional geology
Michel Fontaine President & CEOof Windfall Geotek states: "As we entered this current bullish mining cycle, we atWindfall knew that our new approach had the opportunity to delivergreat returns for our shareholders and this is another story of ourcurrent success. Now that we have seen the potential and the power ofthis approach, we can foresee a bright future for our company andshareholders. Since the generation of high probable targets forPlayfair Mining they have conducted more geological work such as MMIand confirmed soil mineralization on the CARDS targets and as aresult, we have quadrupled our equity position with Playfair. WindfallGeotek believes this will also translate to its other equity positionswith companies such as BTU, TGM, PAC, QPM, DGO, AGO, PUMA, CMX andwill continue to approach the market using this shared risk approachmoving forward. With the restriction for field work due to Covid-19,it has never been a better time for digital exploration and, as such,we have been engaging with exploration companiesglobally".
The technical content of this news release has beenreviewed and approved by Grigor Heba, P.Geo.,Ph.D., Principal Geologist of the Company and a Qualified Personpursuant to National Instrumen t 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 tocontinue the Land Mine detection application as a high priority. Windfall has played a part in numerous pastdiscoveries 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 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 LOOKING STATEMENTS This news release maycontain forward-looking statements. Forward looking statements arestatements that are not historical facts and are generally, but notalways, identified by the words "expects","plans", "anticipates", "believes","intends", "estimates", "projects","potential" and similar expressions, or that events orconditions "will", "would", "may","could" or "should" occur. Although the Companybelieves the expectations expressed in such forward-looking statementsare based on reasonable assumptions, such statements are notguarantees of future performance and actual results may differmaterially from those in forward looking statements. Forward-lookingstatements are based on the beliefs, estimates and opinions of theCompany's management on the date such statements were made. TheCompany expressly disclaims any intention or obligation to update orrevise any forward-looking statements whether as a result of newinformation, future events or otherwise. Neither TSX Venture Exchangenor its Regulation Services Provider (as that term is defined in thepolicies of TSX Venture Exchange) accepts responsibility for theadequacy of accuracy of this release
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