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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 (A
About this update from Windfall Geotek Inc.
[{"type":"text","content":"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...