Windfall Geotek Corporate Update
Brossard, Quebec - TheNewswire - October 8, 2020 - Windfall Geotek (TSXV:WIN) (OTC:WINKF) a mining and technology services company and leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques since 2005 in the mining sector, is pleased to report highlights for the 2nd quarter of its fiscal year in 2020 and its outlook for the remaining of the year into 2021.
Michel Fontaine President & CEO of Windfall Geotek states: "It is with great pleasure that we wish to recap the sales progress Windfall Geotek has made during our very busy Q2 period, which has generated a lot of internal excitement during a bullish market in the mining sector. Indeed, it has never been a better time for digital exploration and, as such, we have been engaging with exploration companies globally."
Highlights of 2nd quarter (Signed contract for total value of $354,250 an increase of more than 250% over the same period last year)
- Signed a series of contracts to generate high probable gold targets in various projects in the Red Lake Mining camp. Companies include BTU Metals $50,000, Trillium Gold $100,000, and AurCrest Gold $33,000
- Signed contract with Durango Resources for $101,250 over its Windfall Lake Trove project in Quebec
- Signed contract with Flow Metals for $60,000 at their new Brenda project in BC
- Signed a contract with Playfair Mining for $10,000 to analyze an extension zone of their project in Norway
- Finalized agreements with representatives in Chile and Peru to develop a series of sales to create a pipeline in the entire district
- Windfall Geotek CARDS AI technology is now featured on www.axora.com, a new global platform that highlights innovation in the mining sector
- CARDS analysis generated high probability targets to BTU Metals & AurCrest Gold in the Red Lake mining camp of Ontario with more to follow
- Multiple clients are drilling and validating CARDS AI targets with substantial success (Canada Nickel Crawford project, Quebec Precious Metals Sakami projects)
In addition to our significant market traction for the CARDS AI-based digital exploration system, we were able to make significant progress regarding our land mine detection application as we received our first data set from testing in the desert of Arizona. The analysis of the first data set which was provided by drone-supported magnetic surveying resulted in highly-promising advancement of the projects. We have also added some new team members to our highly skilled team to help with the development of our land mine detection application as it is advancing rapidly. The addition of the new members will allow Windfall to dedicate a full-time person to this project without it affecting the workflow for our mining clients. Windfall is now on a path that will allow us to market this application that could lead to a major new revenue stream and an increase in returns for Windfall Geotek shareholders.
I wish to thank our existing shareholders for their support and confidence as we pivot the business to our new operating model and markets. Currently Windfall owns shares of multiple companies through business deals that has a total value of $1,350,000. It is clear that we are gaining momentum and are rapidly establishing ourselves as a leader in digital exploration.
About Windfall Geotek - Powered by Artificial Intelligence (AI) since 2005
Windfall is an Artificial Intelligence company that has been in business for over 15 years developing its proprietary CARDS analysis (AI) and data mining techniques. Windfall Geotek can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. It combines available public and private datasets including geophysical, drill hole and surface data. The algorithms designed and employed by Windfall are calculated to highlight areas of interest that have the potential to be geologically similar to other gold deposits and mineralization. The Company's objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining and to continue the Land Mine detection application as a high priority. Windfall has played a part in numerous past discoveries utilizing its methodology as described at: https://windfallgeotek.com/.
For further information, please contact:
President and CEO of Windfall Geotek
Additional information about the Company is available under Windfall Geotek's profile on SEDAR at www.sedar.com. Neither the TSX Venture Exchange nor does its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS This news release may contain forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release