Business
Windfall Geotek Options Strategic Claims with Copper Targets in the Marshall Lake West Area, Ontario
(TheNewswire) DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN...
About this update from Windfall Geotek Inc.
[{"type":"text","content":"Windfall Geotek Options Strategic Claims with Copper Targets in the Marshall Lake West Area, Ontario\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n DOES NOT CONSTITUTE AN OFFER OF THE\nSECURITIES DESCRIBED HEREIN\n \n \n \n \n Brossard, Quebec - TheNewswire - May\n11th, 2022\n \n \n – Windfall Geotek\n \n \n (TSXV:WIN\n \n \n )\n \n \n ,\n \n \n (\n \n \n OTC:WINKF\n \n \n )\n \n \n ,\n \n \n (\n \n \n FSE:L7C2)\n \n \n a leader in\nthe use of Artificial Intelligence (AI) with advanced\nknowledge-extraction techniques since 2005 in the mining sector is\npleased to announce a new property option agreement to a private\nentity for claims in the Marshall Lake West area in Ontario. The\nclaims were acquired as a result of an internal AI target project\nconducted by Windfall Geotek that identified high probability Copper\ntargets in a key mining camp in Ontario. The option agreement provides\nthe private entity with a 90% earn in over a 4 year period subject to\na series of cash payments & spending requirements. Windfall Geotek\nretains a 2% NSR Royalty and 10% ownership in the mineral\nclaims.\n \n \n \n \n Dinesh Kandanchatha, Chairman of\nWindfall Geotek commented:\n \n \n “We continue to see interest in our properties from investors\nlooking to deploy capital. Our AI platform is unique as a due\ndiligence tool for prospectors, primary exploration companies and tier\n1 mining companies looking to extend mine operations. This is another\nvalidation of our technology for the discovery of base\nmetals.”\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Figure 1: Marshall Lake West Area -\nWindfall Geotek Claims in Red\n \n \n \n \n The scientific and technical data contained in this\npress release was reviewed and prepared under the supervision of\nGrigor Heba, Ph.D., P.Geo., Principal Geologist and a Qualified\nPerson as defined by National Instrument 43-101\n \n \n .\n \n \n \n \n Grant of Incentive Stock\nOptions\n \n \n \n \n The Company has granted, unders its Share Option Plan,\nincentive stock options to certain directors, officers, consultants\nand employees of the Company to purchase an aggregate of 1,655,000\ncommon shares exercisable for a period of up to five years from the\ndate of grant at a price of $0.075 per share.  This grant is subject\nto the acceptance for f...