Playfair Mining Extends Contract with Windfall Geotek to Generate New Targets on their newly added claims at the RKV Project in Norway using CARDS Artificial Intelligence
Brossard, Quebec - TheNewswire - July 21, 2020 – Windfall Geotek (TSXV:WIN) is a leader in the use of Artificial Intelligence (AI) in the mining sector for digital exploration and is pleased to announce that it has concluded a 2nd contract with Playfair Mining on its RKV project in Norway. Windfall will use CARDS AI to identify new high priority nickel, copper and cobalt targets on the new claims Block A (30 km2) on the RKV Project in Norway after the great initial results of CARDS AI technology on the main claims block.
Michel Fontaine President & CEO of Windfall Geotek states: “We are delighted to continue our relationship with Neil’s team at Playfair Mining. We now have strong validation of high priority targets in areas of untested ground at the RKV Project in Norway using CARDS AI and we think that this is going to start generating more positive attention for Windfall Geotek”.
Highlights of CARDS AI analysis at the RKV Project
- Generated 27 high probability targets, 19 VMS copper-zinc and 8 nickel-copper magmatic targets
- 14 of the 27 targets have had positive validation
- Highest MMI values in over 20 years within newly identified CARDS AI targets
- Values include 4,050 ppb Cobalt, 48,400 ppb Copper and 17,900 ppb Nickel.
Neil Briggs Vice-President Exploration commented: “Following a tremendously successful use of CARDS AI digital exploration on RKV project earlier this year, where Windfall Geotek technology had identified 27 high probability targets and 14 validated targets (Highest MMI results in 20 years). We are anxious to get more targets based on the same digital signature for our new claim’s extension, this will create more value for our entire property. The efficiency of CARDS AI target generation is exceptional, and we look forward to developing the mineral potential of the RKV project to its fullest and deliver value to our shareholders”.
Figure 1. Map view of new claims (Block A) where CARDS AI will be used following a successful phase 1 on the RVK project in Norway.
Dinesh Kandanchatha Chairman of Windfall Geotek states: “We are very pleased with the way that our CARDS AI is performing to date. The initial deal done with Playfair Mining is also seeing immediate value for Windfall Geotek and shareholders. The impact of the development of this project is delivering a high return (over 200%) and is illustrating the power of our new business model, which is truly reflected here”.
About Windfall Geotek – Powered by Artificial Intelligence (AI) since 2005
Windfall Geotek is a services company using Artificial Intelligence (AI) with an extensive portfolio of shares of its clients. Windfall Geotek can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. 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.
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