Windfall Geotek Updates Successful Validation with Playfair Mining and New Business Model
Brossard, Quebec - TheNewswire - October 15, 2020 – Windfall Geotek (TSXV:WIN), (OTCQB: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, would like to share an update on the successful validation of both the AI targets and improved business model of Windfall Geotek. Playfair Mining (TSX.V: PLY), (Frankfurt: P1J1), (OTC: PLYFF) has successfully validated numerous CARDS generated AI targets on its RKV project in Norway through a detailed and rigorous soil sampling program identifying numerous base metals not known in these areas before. Windfall also continues to generate highly probable targets in the mining sector, proving the fact that its new business model is the path for adding value.
About Playfair Mining Contract and Successful Validation
- Playfair Mining contract was signed in March, 2019 to deliver highly probable VMS Cu-Zn style base metals targets and Ni-Cu Magmatic targets in Norway (296 km) on its RKV project
- CARDS analysis uses AI and data mining techniques to identify high-priority targets by combining all available data sets, including geophysical, drill hole and topography. The algorithm is designed to highlight areas of interest that are geologically similar to known copper and nickel deposits and mineralization in Norway.
- In this case a digital signature of over 20 mineral showings, 2 past producers and old VMS showings that dated back to more than 400 years ago were used
- Project has had multiple predecessors including Falconbridge (They found the Vakkerlien nickel-copper deposit in 1975)
- CARDS generated a total of 27 targets (Figure 1-3). CARDS Evaluation has focused exploration down to 2.5 km from the original 296 km
- 19 targets were generated from the VMS Cu-Zn model, where 7 of these VMS targets were rated high priority (Figure 1-3)
- 8 targets were generated from the magmatic Ni-Cu Magmatic model, where 4 of these Magmatic targets were rated high priority (Figure 1-3)
- 43 significant MMI soil samples in 15 grids with values over 50 times background in one or more of copper, nickel or cobalt were discovered on Windfall’s AI targets
- Using Windfall’s new business model and completing target generation for equity Windfall was able to achieve a quadruple evaluation on the initial Playfair Mining shares
- Windfall completed the work and received 2 million Playfair Mining shares at $0.05
Figure 1. Location of CARDS Artificial Intelligence Cu-Zn Base Metal VMS – Ni-Cu Magmatic targets generated for Playfair Mining’s RKV project in Norway
Figure 2. Location of CARDS Artificial Intelligence Base Metal VMS Cu-Zn targets generated for Playfair Mining’s RKV project in Norway with regional geology
Figure 3. Location of CARDS Artificial Intelligence Ni-Cu Magmatic targets generated for Playfair Mining’s RKV project in Norway with regional geology
Michel Fontaine President & CEO of Windfall Geotek states: “As we entered this current bullish mining cycle, we at Windfall knew that our new approach had the opportunity to deliver great returns for our shareholders and this is another story of our current success. Now that we have seen the potential and the power of this approach, we can foresee a bright future for our company and shareholders. Since the generation of high probable targets for Playfair Mining they have conducted more geological work such as MMI and confirmed soil mineralization on the CARDS targets and as a result, we have quadrupled our equity position with Playfair. Windfall Geotek believes this will also translate to its other equity positions with companies such as BTU, TGM, PAC, QPM, DGO, AGO, PUMA, CMX and will continue to approach the market using this shared risk approach moving 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 companies globally”.
The technical content of this news release has been reviewed and approved by Grigor Heba, P.Geo., Ph.D., Principal Geologist of the Company and a Qualified Person pursuant to National Instrument 43-101.
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/.
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President and CEO of Windfall Geotek
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