Windfall Geotek Announces Initiation of Exploration Program on Newly Staked Land Claims in Sobeski Lake Area of The Red Lake Mining Camp
DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
- Sobeski Lake Land Claims staked based on AI Targeting analysis of North Eastern Section of Red Lake mining camp
- Maiden field exploration work program initiated on 100% owned claims of Windfall Geotek with a NI 43-101 to be completed after all assays are received
- Windfall AI scan completed within Red Lake Camp that has identified multiple new areas of interest, with Sobeski Lake property being the first focus for the company
- Red Lake AI Gold Target Analysis based on more than 3.8 million data points over a 6,000 km2 area.
Brossard, Quebec - TheNewswire - May 19th, 2021 – Windfall Geotek (TSXV:WIN) (OTC:WINKF) (FSE:L7C2) (“Windfall” of the “Company”) a mining technology company and a leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques since 2005 announces it has initiated the preliminary work for a NI 43-101 in the vicinity of the Red Lake camp on its Sobeski Lake Property. The land claims were staked based on Windfall Geotek’s AI analysis of the Red Lake Mining Camp.
Dinesh Kandanchatha, Chairman commented, “The Sobeski Lake area in the Red lake camp is just one of the areas we are working on with our AI platform using public data. Our ability to process data at scale and generate insight using our algorithm promises to unlock value for our shareholders and shareholders of other projects in the future.”
Red Lake Camp Highlights
- Sobeski Lake Property is road accessible excellent infrastructure in the Red Lake area.
- Gold deposits in the Red Lake area are classified as orogenic gold deposits. The gold deposits are highly associated with brittle-ductile zones in favorable rock units
- Most of the Red Lake work is concentrated in Balmer Assemblage units which host the majority of gold produced from the area.
- Current Gold operators include Pure Gold Mining (Madsen Mine) and Evolution Mining (Red Lake, Campbell and Cochenour Mines)
- Several junior explorers are very active in the Red Lake camp including Pacton Gold Inc, AurCrest Gold Inc, Trillium Gold Mines Inc and Great Bear Resources with their recent discoveries of both the Dixie Hinge and LP fault zone
Nathan Tribble P.Geo, Director commented: “This is very exciting to have initiated Windfall’s first exploration program in the Red Lake camp, which is one of the most prolific gold camps in the world. After our recent Windfall AI system analysis on the entire camp, we were able to select our favorite targets that we deemed highly prospective through our internal targeting criteria. The land that was staked has favorable rock units, structures and high probability AI targets.”
Windfall Geotek Sobeski Lake Highlights
- Maiden field exploration work program initiated on 100% owned claims
- Sobieski Lake will be Windfall’s first highly prospective asset
- Multiple unexplored AI targets identified to be followed up with
- More land packages to be included in Windfall’s portfolio of assets in the coming months
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:
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).