Windfall Geotek Generates AI Exploration Targets for Exploits Discovery Projects in Central Newfoundland

 

DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Brossard, QC – TheNewswire – June 28, 2023 – Windfall Geotek Inc. (TSX-V:WIN) (OTC:WINKF) (FSE:L7C2) a leader in the use of Artificial Intelligence (AI) with advanced knowledge-extraction techniques since 2005 in the mining sector and is pleased to announce it has provided and completed it’s AI Mineral Exploration targeting services for Exploits Discovery (TSX-V:NFLD) for it’s Exploits South District Property Package consisting of the True Grit, Great Bend & Middle Ridge Properties located in Central Newfoundland.

 

Windfall Geotek generated 12 AI Targets over the project area covering 1,208.75 km2 utilizing 4,942 gold assays. The AI target analysis provides significant upside for new discoveries beyond the scope of known gold mineralization on the project.

Jeff Swinoga, President and CEO, comments, “As we advance our new Horseshoe gold discovery and target development further to the north at our Gazeebow claims, we are pleased that this new technology was able to assist us with identifying numerous gold targets within our relatively unexplored southern claims. We were very impressed with Windfall’s predictive AI technology and its ability to highlight the potential for significant upside for new discoveries beyond the scope of known gold mineralization on these properties.”

 

Dinesh Kandanchatha, Interim CEO and Chairman, “We are excited about the opportunity to continue our exploration activities in Newfoundland. Mr. Swinoga has been a strong partner as we continue to expand our data set and validate our models for gold.”

Geological Context (https://exploitsdiscovery.com)

 

The Great Bend-Middle Ridge Project area (Figure 2) located in the Gander River Ultramafic Belt (GRUB) regional structure is thought to be very important in the mobilization and concentration of gold mineralization in the province of Newfoundland, Canada.

 

The Great Bend property is situated within the Dunnage Zone and encompasses (from west to east), the Newfoundland Geological Survey mapped Coy Pond Complex (CPC), Baie d’Espoir Group (BDG), and the Davidsville Group. Lithological units are diverse across the property and consist of Cambrian to Ordovician ophiolitic ultramafics (CPC), Ordovician felsic to intermediate island-arc volcanics and siliciclastic sediments (BDG), as well as Davidsville Group Ordovician marine siliciclastic sediments. The southwest property margin contains the northeast edge of the Early Ordovician Partridgeberry Hills granite which truncates the ophiolite and siliciclastic packages.

 

The Middle Ridge property straddles a significant regional structure of the Dunnage Zone called the Gander River Ultramafic Belt, (GRUB), a regional scale trans-compressional thrust fault marked by a discontinuous belt of ophiolitic rock that forms the south easternmost boundary of the Exploits Subzone. The GRUB Line is believed to be a potential conduit for deep seated fluid flow and a pathway for the transportation of gold bearing fluids. This structure is spatially associated with significant gold deposition across the belt focused in secondary and tertiary structural splays from the GRUB Line, which is hosted in the Silurian siliciclastic sediments of the Exploits Subzone.

   

Windfall Geotek AI Gold Target List

Nr	Target ID	X (Center) Nad83 UTM21	Y (Center) Nad83 UTM21	Area (km2)	Perimt. (km)	NTS Sheet	Lithology (NFLD)
1	AI_Exploit_GB_MR_Au_01	598912	5362870	1.129	4.533	002D05	Plutonic ultramafic / Plutonic mafic (Coy Pond Complex)
2	AI_Exploit_GB_MR_Au_02	598246	5362260	0.114	1.371	002D05	Plutonic ultramafic / Plutonic mafic (Coy Pond Complex)
3	AI_Exploit_GB_MR_Au_03	598121	5361870	0.132	1.455	002D05	Plutonic ultramafic / Plutonic mafic (Coy Pond Complex)
4	AI_Exploit_GB_MR_Au_04	598133	5360910	0.434	2.790	002D05	Plutonic mafic (Coy Pond Complex)
5	AI_Exploit_GB_MR_Au_05	599620	5359430	0.473	2.773	002D05	Plutonic felsic (Partridgeberry Hills Granite) / Plutonic mafic (Coy Pond Complex)
6	AI_Exploit_GB_MR_Au_06	602085	5359150	0.145	1.523	002D05	Volcanic mafic marine (Coy Pond Complex)
7	AI_Exploit_GB_MR_Au_07	601318	5365620	0.215	1.873	002D05	Plutonic ultramafic (Coy Pond Complex)
8	AI_Exploit_GB_MR_Au_08	606342	5361360	0.367	2.463	002D05	Siliciclastic marine (Baie d’Espoir Group)
9	AI_Exploit_GB_MR_Au_09	608805	5368860	0.383	2.528	002D05	Siliciclastic marine (Baie d’Espoir Group)
10	AI_Exploit_GB_MR_Au_10	609007	5367950	0.415	2.579	002D05	Siliciclastic marine (Baie d’Espoir Group)
11	AI_Exploit_GB_MR_Au_11	608224	5367000	0.093	1.222	002D05	Siliciclastic marine (Baie d’Espoir Group)
12	AI_Exploit_GB_MR_Au_12	598864	5364710	0.048	0.877	002D05	Plutonic ultramafic / Plutonic mafic (Coy Pond Complex)

        

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Figure 1: Map showing the distribution of AI Gold Targets of Exploits Discovery Project

 

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Figure 2: Windfall Geotek AI Process Overview

 

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 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 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:

Email: [email protected]

Website: www.windfallgeotek.com
Phone: 1-855-946-5145

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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