DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Brossard, Quebec - TheNewswire - November 18, 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 announce positive validation of its CARDS 2D AI targets for both Gold and Copper at Chilean Metals Tierra De Oro project in Chile.
Highlights of 2020 Analysis at the Tierra De Oro Project
Click Image To View Full Size
Figure 1: Windfall Geotek CARDS Gold targets and Chilean Metals 2020 field results at the Tierra De Oro Project in Chile
Click Image To View Full Size
Figure 2. Windfall Geotek CARDS Copper targets and Chilean Metals 2020 field results at the Tierra De Oro Project in Chile
Learn more about the geologic context of this areas at http://chileanmetals.com/cmx2/tierra-de-oro/
Terry Lynch CEO of Chilean Metals Inc said, “We are excited to commence drilling on TDO. In particular we believe the AI guidance will focus our search and enhance our odds of drilling success. Chanchero the large IP anomaly was home of the “Chanchero Gold Rush” in Chile in the early 1900’s and we believe it is possible the large IP anomaly could be the causative source of that mineralization. It’s the type of drill hole Junior Miners dream about. We have de-risked it as much as we can and we now need to drill it”
Ximena Pérez Campos, Exploration Geologist Chilean Metals Inc. commented: “In April 2019, Chilean Metals Inc. contracted the artificial intelligence services of the Windfall Geotek with its CARDS AI product; which provides a new exploration tool to find new targets for the Tierra de Oro project. The first stage was the collection of existing information, such as geophysics, geochemistry, geological mappings, etc. The processing of this data using this technology resulted in 6 new areas to explore in search of new targets (Figure 1-2). After years of evolution in mining prospecting methods, the incorporation of AI technology opens a new era in exploration, identifying new study targets in areas where the algorithm finds the probability of success, based on the existing geological information in other areas and the similarity of this in other unexplored areas. In the Tierra de Oro project, CARDS gave us 6 targets, of which 3 were prioritized to go to the field and take samples in the first instance and check if there is interest to continue exploring. The field campaign for evaluation of the first targets delivered positive results that opens other prospects to the targets already recognized at a more advanced stage of exploration”.
Michel Fontaine President & CEO of Windfall Geotek states: “We are very pleased to once again see the positive results of using our CARDS AI technology for exploration companies such as Chilean Metals. These results are for sure conclusive and we hope it will continue to promote our technology in South America markets and across the world. We have seen a tremendous increase in demand during the Covid-19 pandemic as our digital exploration represents a great alternative to field work and is a safe way to advance projects quickly. The result for both Gold and Copper targets clearly shows the power of our CARDS AI technology and has to be seen as a clear pathway to continuing to build value for our shareholders and clients with these validations”.
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.
Dinesh Kadanchatha Chairman of Windfall Geotek which to inform that following the AGM held on Nov 17th, It was agreed that Michel Fontaine will be stepping down as CEO and President once a replacement can be found but will continue to act in this capacity until a replacement can be found. The board is starting a search for this role and will be looking to fill it as soon as the candidate is found. Mr. Fontaine will continue in a sales capacity once the right candidate is selected. The board thanks Mr. Fontaine for all his efforts as the CEO and President since 2017.
Windfall has played a part in numerous past discoveries utilizing its methodology as described at: https://windfallgeotek.com/clients-discoveries/
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