Windfall Geotek (TSXV: WIN) (OTC: WINKF) has secured a new contract with Quebec Copper & Gold (TSXV: QCCU) to provide its cutting-edge artificial intelligence targeting services for the Opemiska copper and gold project.
Additionally, Quebec Copper & Gold inked a purchase sale agreement for Windfall’s Chapais Property for 500,000 shares and a 2 per cent net smelter royalty subject to a 1 per cent buyback. The Chapais project increases the size of Quebec Copper & Gold’s Opemiska Project in the Chibougamau District of Quebec.
Windfall takes data from various sources to construct algorithms to find a high probability conclusion for where to find mineralization. A few examples include satellite, LIDAR, which is a remote sensing method using light in the form of a pulsed laser. Also it takes from public and private data sets, and soil sampling.
“What our algorithm does is take these data points and finds similarities between them. We map these data sources and look for comparisons,” said Dinesh Kandanchatha, chairman of Windfall Geotek, in an interview with Mugglehead.
The technology works for all metals, including copper, nickel, lithium, gold, silver, cobalt, platinum and uranium, among others.
“It allows mining companies to be more efficient with their capital,” said Kandanchatha.
The company also has a partnership with Draganfly (CSE: DRPO) to provide overland drone-oriented refining surveys.
Windfall Geotek is a technology company and not an explorer, Kandanchatha says. It partners with other companies like Quebec Copper & Gold and makes money off the back end through either cash, royalty, NSR or gross smelter royalty (GSR), or stock.
“The two use cases where we bring value are refining an existing land package so you can spend your dollars where you have the highest probability of success, and adding on to your land package through the processing of public data so you can maximize the market value of your discovery,” said Kandanchatha.
Windfall Geotek uses high value data sets to draw strong probabilistic conclusions
The Windfall Geotek AI system has generated significant targets for gold, copper and zinc, across the entire land package. Windfall will take all available data and conduct a large-scale AI targeting project over both Opemiska and Chapais Project’s which will then be owned by Quebec Copper & Gold.
“The Chapais Property is well situated in a prolific region that has produced over 1 billion pounds of copper and 1 million ounces of gold,” said Nathan Tribble, director of Windfall Geotek.
The Chapais property is large, with 36 claims over 1,560 hectares. It’s located 490 kilometers northwest of Montreal and road accessible with power grid access. The direct route to the property is through route 113 to provide access to the deposits. Route 113 is part of the Trans-Canada Highway. The access road provides diamond drill and personnel access to the site all year around.
It also includes a series of ATV trails for access.
Windfall Geotek shares closed at $0.065 on the TSX Venture Exchange. Also, Quebec Copper & Gold closed at $0.16 on the TSX Venture Exchange as well.