WINDFALL GEOTEK DELIVERS AI TARGETS FOR CAPELLA MINERALS COPPER – ZINC – GOLD – SILVER KJØLI VMS PROJECT IN NORWAY
DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
- A total of 24 targets found on the 150 km2 Kjøli VMS project reducing the exploration area by 90% to help focus on less than 10 km2
- Targets are proximal to the Killingdal mine, which produced 2,900,000 tons of Copper and Zinc while in operation (1)
- Windfall has now produced 50+ base metal and precious metal targets using public and customer data in Norway covering over 300 km2.
Brossard, Quebec / The Newswire / May 5th, 2021 – Windfall Geotek Inc. (the “Company”, or “Windfall” TSX-V: WIN, OTCQB: WINKF, FSE: L7C2) , a global leader in AI mineral exploration since 2005, is pleased to announce the delivery of high probability AI targets to Capella Minerals (TSX.V: CMIL, FRA: N7D2) for their Kjøli VMS Project in Norway. The AI targets (Figure 1 & 2) identify separate Copper-Zinc & Gold-Silver areas on the Kjøli VMS project located in the Røros mining district in central Norway.
- 13 Copper-Zinc targets with threshold of 1% for Cu & 0.5 % for Zn according to our algorithms
- 11 Gold-Silver targets with threshold of 0.2 g/t for Au & 5 g/t for Ag according to our algorithms
- Various extensions and trends identified near the known mineralization zones of the Killingdal and Kjøli past producing mines
- The precision AI targets reduce the exploration area by 90%, thereby reducing the need for excessive exploration and drilling.
About Capella Mineral’s Kjøli Project:
The Company’s Kjøli copper-rich massive sulfide (“VMS”) project represents a district-scale (150 square kilometers / 15,000 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 1 2.9 Mt @ 1.7% Cu + 5.5% Zn from one of Europe’s deepest (1.4 km) underground mines – to the former Kjøli copper mine
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 further work on these targets in our summer 2021 field exploration.
Simran Kamboj, President and CTO of Windfall Geotek commented: We are pleased to have identified high probability targets for our partners in the Capella Minerals project. Our tools and proprietary AI models perform well when it comes to base metals and we are excited for the Capella Mineral’s team to validate the targets to further the project one step closer to an operating mine. As the base metals demand goes up in the next decade, the supply chain will need more sources of sustainable battery minerals from projects like this one in Norway. We are confident Capella Minerals will benefit from our work and this joint effort will generate a great return for both of our shareholders.
Figure 1: Copper-Zinc targets on Kjøli Project in Central Norway
Figure 2: Gold-Silver targets on Kjøli Project in Central Norway
Figure 3: Windfall Geotek AI Target Generation Process
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 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:
Mr. Simran Kamboj President and CTO
Tel: 1 (450) 678-8882
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).
(1) Historic production figures are from Birkeland, A. (1986) Mineralogisk og geokjemisk undersokelseav Killingdal gruver, Sor-Trondelag. M. Scient. Thesis, University of Oslo in Geological Survey of Finland, Special Paper 53 pg. 86.