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Windfall Geotek Inc Option its Ashuanipi Gold Project to Flow Metals Corp

by MikeyMike426
July 14, 2020
in Home Page, News Room, WIN, WIN News
0
Windfall Geotek Inc Option its Ashuanipi Gold Project to Flow Metals Corp

Brossard, Quebec – TheNewswire – February 25, 2020 – Windfall Geotek (TSXV:WIN), 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 they have signed an Option Agreement with terms, whereby Flow Metals Corp., reporting issuer preparing to list in Canada, can earn a 100% interest in the Ashuanipi Gold Property, located in Northern Quebec. The Ashuanipi property is located from 30 to 90 kilometers west and north-west of Schefferville, Quebec, and lies within the Ashuanipi Complex in the northeastern portion of the Superior Province.

To earn 100% interest in the Ashuanipi property, FM must make cash payments of $120,000 over three years, issue a total of *2,100,000 common shares over three years (*100,000 due immediately and 500,000 at company listing date  and also sign a contract for the use of Windfall Geotek CARDS AI tool (Value at $60,000 payable cash) on one of its properties  when the company will be listed. Windfall Geotek will retain a 2% NSR, one half (1%) which can be purchased by FM for $750,000. FM must also complete a minimum of $450,000 worth of exploration work on the property over the 3 years period.

In 2013, following the CARDS AI modeling of an area some 330 900 km2 in the northern portion of the Superior Province, an exploration effort carried out by a team of geologists working on CARDS targets over the Ashuanipi Property returned 12 samples with assay values above 1 g/t Au and 128 with values above 0.1 g/t Au. The three most significant results originated from newly discovered outcrops and yielded assays of 17.45, 12.25, and 8.13 g/t Au, respectively. The 17.45 g/t Au value was obtained from a one-meter wide quartz vein, while other elevated results were mainly encountered within the silicate facies horizon (pyrigarnite) of iron formation lenses.

A high-sensitivity helicopter-borne magnetic survey totaling 4 411-line kilometers at 50-meter line spacing was completed on the property in August 2018 and seven geophysical exploration gold target areas were selected based on thorough data processing. In September 2019, using the detailed survey, Windfall Geotek refined a new CARDS AI gold signature and generated 52 precise CARDS AI gold targets on the property. Based on combined CARDS AI and geophysical targets, Windfall Geotek selected 18 priority target zones for gold and reduced the property from 298 to 115 claims.

“We are excited to begin validating the targets provided by this iterative CARDS AI approach. The Ashuanipi project is an excellent fit for us, it is underexplored with strong structural control of the gold mineralization. Using the combined geophysical and CARDS targets we can start focused exploration of the project. In addition, we believe that CARDS AI can give us an edge on our other gold projects and see this agreement as the start of a long-term strategic partnership.”

Scott Sheldon CEO of Flow Metals

“We are pleased to have completed this agreement with Flow Metal Corp, A young and dynamic team that views our association as a strategic one, We are confident that the subsequent work and  analysis of our Ashuanipi Property will generate great results and confirm the efficiency of the AI CARDS system to produce precise gold targets. We believe the results will provide the foundation for the Company to find more alliance with other mining companies or investors”.

Michel Fontaine, President and CEO of Windfall Geotek

About Windfall Geotek – Powered by Artificial Intelligence (AI) since 2005

Windfall Geotek is a services company using Artificial Intelligence (AI) with an extensive portfolio of gold, copper and zinc properties in Quebec. Windfall Geotek can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence(AI), and mathematics. The Company’s objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining.

For further information, please contact:

Michel Fontaine

President and CEO of Windfall Geotek

Telephone: 514-994-5843

Email: michel@windfallgeotek.com

Website: www.windfallgeotek.com

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MikeyMike426

MikeyMike426

I am a 3rd generation miner who was born and raised in the silver capital of Canada, Cobalt, Ontario. For the last 10 years I have been invested in the mining sector and as a retail investor found it difficult gathering information on companies of interest. For this reason we created Insidexploration.com as a means to share our due diligence with investors all around the world. Disclosure The thoughts and opinions expressed in my articles and research reports are my own and do not represent those of the companies I write about. I often buy and sell the stocks I write about and may do so at any point in time without warning. Disclaimer My articles and research reports should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided is derived from sources believed to be accurate, but cannot be guaranteed. I do not take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. I am not a registered financial advisors and one should always do your own due diligence and consult a licensed investment adviser prior to making any investment decisions. Always reference www.SEDAR.com for important risk disclosures.

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Currently we have 2 porphyry systems identified by @GoldspotD at the #ReyLake & #LuckyMike areas which need further drilling. In addition, we now have over 20 target areas to focus on, giving the 120km² Project potential to host a cluster of deposits.

https://arcpacific.ca/news-releases/goldspot-identifies-24-targets-and-confirms-presence-of-porphyry-system-at-lmsl-copper-gold-molybdenum-silver-project/

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Lots of drill results coming for @DeltaResLimited $DLTA from Delta 2 projects this year!

Stay tuned for the first 36 holes in the coming weeks!

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