DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Highlights:
- – Validation of Windfall Geotek’s AI target (GOLD) produced from public data in 2010
– Discovery is 50m of surface and mineralization is open in all directions
– 24.85 metres (“m”) of 1.4 grams-per-tonne gold (“g/t Au”); including 4.25 m of 3.6 g/t Au.
Brossard, Quebec – TheNewswire – March 30, 2021 – Windfall Geotek Inc. (the “Company”, or “Windfall” (TSXV:WIN), (OTC:WINKF), (FSE:L7C2) is pleased to announce successful drilling results on a new gold discovery in the Bachelor Lake area of the Urban Barry Mining Camp occurring on Windfall’s A.I. Targets generated back in 2009 using publicly available data from the Quebec Government. These drilling results highlight the high accuracy of the Company’s A.I. system used for generating mineral exploration targets. The AI targets were sold to Metanor resources in 2009 (Original press release date November 18, 2009); due to confidentiality the name of the current claim owners can not be mentioned. Windfall has been providing high probability AI exploration targets for mineral exploration in the mining industry since 2005.
The following drilling results recently reported in March of 2021 occurred within previously defined targets of the Company’s AI System in 2010 – (See Figure 1 below)
- – Drill Hole (EB20-008) – 24.85 metres of 1.4 g/t gold; including 4.25 metres of 3.6 g/t gold
– Drill Hole (EB21-021) – 18.3 metres of 0.9 g/t gold; including 10.5 metres of 1.3 g/t gold; and,
– Both results occur within 50 metres of surface
Nathan Tribble board member of Windfall Geotek commented: “It is excellent to see a Windfall AI system target that is almost 10 years old still able to be validated in 2021. I have personally worked on this project in 2018-2019 and was very impressed initially by the gold signature created by the Windfall AI system on the Moroy Deposit. It is nice to see the validation of the same target on the eastern side of the O’Brien intrusion that speaks to how big the mineralized system is at the Bachelor Lake area”
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Figure 1. Map of the Windfall AI targets near Bachelor Lake
Validations:
- – Drill Hole (EB20-008) – 24.85 metres of 1.4 g/t gold; including 4.25 metres of 3.6 g/t gold
– Drill Hole (EB21-021) – 18.3 metres of 0.9 g/t gold; including 10.5 metres of 1.3 g/t gold; and,
– Both results occur within 50 metres of surface
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Grigor Heba, Ph.D., P.Geo., Principal Geologist and a Qualified Person as defined by National Instrument 43-101.
Grant of Stock Options and appointment of Simran Kamboj
Windfall is pleased to announce the grant of 1,000,000 stock options to its directors, management team and consultants. The stock options entitle their holders to purchase the same number of common shares of Windfall at a price of $0.295 per common share for a period of 5 years, namely March 29, 2026 (the “Options”).
Windfall’s directors and management team were granted 500,000 Options, and two consultants of Windfall were granted 500,000 Options.
Windfall is also pleased to announce the appointment of Simran Kamboj to its board of directors.
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 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:
Simran Kamboj
President & CTO
Email: simran@windfallgeotek.com
Website: www.windfallgeotek.com
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 contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and using information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and they are subject to risks and uncertainties that may 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, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
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