Windfall Geotek Signs 2nd Contract in Norway with Capella Minerals

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(TheNewswire)



Brossard, Quebec -  TheNewswire -  January 14, 2021 – Windfall Geotek (TSXV:WIN) (OTC:WINKF), a mining services company and a leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques since 2005 in the mining sector, is pleased to announce that the Company has been commissioned by Capella Minerals Limited (“Capella”; TSX.V: CMIL, FRA: N7D2)  to deploy our proprietary CARDS Artificial Intelligence ("AI") system. The contract will identify VMS (Cu-Zn) exploration targets over Capella’s Kjøli project located in the northern extension of the Røros mining district in central Norway (Figure 1). The contract is valued at $110,000 CAD with the potential for Windfall Geotek to earn shares for targets staked outside the scope of the client’s project.

About Capella Mineral’s Kjøli Project:

The Company’s Kjøli copper-rich massive sulfide (“VMS”) project represents a district-scale (120 square kilometers / 12,000 Ha) land position on the northern extension of the Røros mining district in central Norway, which saw mining for over 300 years beginning in the mid-1600’s. The Kjøli Project (Figure 1) covers approximately 15 km strike length of highly-prospective stratigraphy extending north from the past-producing Killingdal mine - which operated from 1674 to 1986 and produced some 2.9 Mt @ 1.7% Cu + 5.5% Zn from one of Europe’s deepest (1.4km) underground mines - to the former Kjøli copper mine (Source: Capella Minerals website).

Capella Minerals data layers to be analyzed are:

  • - Surface rock samples database

    - Heliborne Magnetic-Electromagnetic-Radiometric 1999 survey data at 50m resolution (Figure 1).

    - Digital Elevation Model (DEM) at 10m resolution data from Geonorge-Kartkatalogen will be integrated into the modeling process to characterize the topography input.

    - All these data will be merged into a single dataset in order to evaluate the VMS (Cu-Zn) and Au-Ag mineral potential analysis with CARDS.

Eric Roth, President & CEO of Capella Minerals comments: " Working with Windfall Geotek allows us to accelerate our project while generating high probability targets during the low season for field work, We have been following with great interest the positive CARDS AI results being reported from Playfair Mining’s (TSX,V:PLY) RKV Project in central Norway, which lies in a similar geological setting and hosts similar deposit types to Kjøli. AI support in mineral exploration will be instrumental in the future successes in our industry and we look forward to working with Windfall."

Windfall Geotek CARDS analysis identifies areas of high exploration potential using several techniques listed below:

  • - Algorithms analyze each layer (Figure 2) of information for every drill hole/rock/soil sample and data site to create a unique signature for the mineralization that is being sought (gold, copper, kimberlites etc.).

    - The MCubiX data mining engine (with numerous supporting algorithms) analysis recognizes patterns of information among drill holes and other sample media. The system uses these algorithms to find the new patterns that are often not recognized by the naked eye.

    - CARDS analysis identifies locations of the new mineralization signature in the exploration area. Predictions are given a cell rating by percentage.

    - Millions of spatial data points and their relationships are analyzed, where a human brain cannot do as efficiently and quickly as a computer (Figure 3).

    - The CARDS System becomes trained and "cross validates" each model that CARDS generates. The cell rating percentage "weeds out" unwanted (low percentage cells) targets, leaving only the highest probability areas for the discovery of mineralization. In some regions this may be as low as 5% of total original project area (Figure 2).


Click Image To View Full Size

 

Figure 1: The Kjøli Project in Central Norway

Michel Fontaine, President and CEO of Windfall Geotek commented: “We are pleased to have added another major contract in Norway to collaborate with Capella Minerals and EMX Royalty. This will be our second project in Norway in the recent months, and we are extremely confident given the high quality of the data that the results will generate high probability targets. Our AI tool is exceptionally efficient when it comes to base metals and we expect to see the results reflect that in the context of the Kjøli project. We are confident Capella Minerals will benefit from our CARDS AI targeting and will generate a great ROI for both companies’ shareholders.”


Click Image To View Full Size

Figure 2: By combining various data types, data utilization is optimized, and prediction is maximized.


Figure 3: Millions of spatial data points and their relationships are analyzed.

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.

About Windfall GeotekPowered 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:

 

Michel Fontaine

President and CEO of Windfall Geotek

Telephone: 514-994-5843

Email: [email protected]

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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